2020 Year In Review

January 13, 2021
Thank You and Happy New Year!

All of us at Chaffe are very grateful for our clients, friends, and colleagues who contributed to a successful 2020. Thank you to all the business owners, advisors, entrepreneurs, and management teams that trusted us with their business needs. Our entire team wishes you a happy and successful New Year and fewer Zoom calls in 2021!


Chaffe was lead financial advisor on five transactions for an aggregate deal value of more than $175 million. The deals spanned five different industries, including industrial services, produce distribution, beverage distribution, healthcare, and energy services.

Sunrise Fresh Produce, LLC

Insulations, Inc.

ENNH (Southern Scripts)

Purveyors of Fine Wine

Stone Oil’s Acquisition of MEGA Lubricants


Possible Tax Changes under a Biden Administration – Business Owners Should Act Now!
Capital Gains Tax
The Biden administration proposes increasing the long-term capital gains tax rate from 20% to 39.6% which would substantially reduce the after-tax proceeds on the sale of a business. It is an opportune time for business owners to recapitalize or sell their businesses.

Estate and Gift Taxes
The Biden tax plan also contemplates a reduction in the exclusion amount for estate and gift taxes, from $11.58 million per person to $3.5 million ($23.6 million per married couple reduced to $7 million) and an increase in the tax rate from 40% to 45%. Advisors should encourage clients to use the maximum amount of their exemption in 2021. There are many effective long-term estate planning strategies currently available that take advantage of low interest rates including: Grantor Retained Annuity Trusts (GRATs), Charitable Lead Annuity Trusts (CLATs), and sales to Intentionally Defective Grantor Trusts (IDGTs).

Litigation is Heating Up in the New Year
Business Interruption Claims
Enduring weeks of forced government shutdowns is difficult for any business to withstand. Many businesses will have to file business interruption insurance claims to be made whole. Chaffe & Associates, Inc. regularly prepares and reviews calculations of lost revenue and profits. Our professionals have the experience and qualifications to provide schedules used for substantiating claims that can withstand scrutiny.

Shareholder Disputes
Economic uncertainty and forced business closures depress business values. While these circumstances are generally viewed as unfavorable, lower values may present an opportunity for shareholder redemptions and restructuring. Chaffe & Associates, Inc. has decades of experience in business valuations and expert witness testimony in these matters.

It is anticipated that there will be an uptick in divorce filings as a result of the pandemic. Often the value of a privately held company is the largest area of dispute in the property partition. Chaffe & Associates, Inc. has decades of experience in business valuations and expert witness testimony to assist your client with their needs.

Increased Scrutiny and Battles Surround Intellectual Property
Resulting Chaos from Pandemic Increases Impairment Charges

Few companies were left unscathed from the uncertainty and volatility in the markets over the past year from the pandemic. As a result, increased impairment charges are likely to be taken this year as companies evaluate the downward pressure on business values and investments. Chaffe’s CPA/ABV, ASA-BV/IA, and CEIV certified professionals have the required expertise for impairment testing.

Intellectual Property Litigation on the Rise
Intellectual property (IP) is often a company’s or individual’s most significant asset. In disputes over the ownership or an alleged infringement of an IP asset, the owner of the IP may be entitled to monetary damages. Whether the IP is a trademark, patent, trade secret or other form, Chaffe can assist in preparing damages calculations and expert testimony.

Mergers and Acquisitions Post-Pandemic: Can troubled businesses survive?
Was your business perfectly positioned for sale before the pandemic hit, and now it is left scrambling for capital to meet debt payments or pay expenses? Not all hope is lost. There is capital available for middle-market companies. For those who are not ready to exit, there is a silver lining! Read on to learn more.


Vanessa Brown Claiborne joined the Bureau of Governmental Research (“BGR”) Board of Directors in 2020. BGR is a non-profit dedicated to informed public policy making and the effective use of public resources for the improvement of government in the New Orleans metropolitan area.

Gay Le Breton has been elected Chair of the Board of Directors of Greater New Orleans, Inc., which is the regional economic development organization serving the ten-parish region of Southeast Louisiana.

Riley Busenlener has been selected to serve on the Appraisal Standards Board for the Appraisal Foundation, which is responsible for writing, amending and interpreting the Uniform Standards of Professional Appraisal Practice.

Nene Glenn Gianfala has been appointed to the Accredited in Business Valuation (ABV) Credential Committee for the American Institute of Certified Public Accountants (AICPA). This committee develops and maintains the qualification requirements, examinations and initiatives to recruit and retain credential holders.

If you are interested in learning more on a topic via electronic newsletter, please submit your suggestions info@chaffe-associates.com.
Did you know Chaffe contributes a monthly article to New Orleans CityBusiness? Catch up on Louisiana’s merger and acquisition activity here.

Chaffe professionals are seasoned speakers on a variety of topics, who have presented in front of large and small audiences at conferences across the United States and on nationally broadcasted webinars for organizations such as the American Society of Appraisers, American Institute of Certified Public Accountants, Association of Corporate Growth, Society of Louisiana Certified Public Accountants, Business Valuation Resources, Vistage, as well as industry conferences.

We are happy to speak at conferences, participate in panel discussions or on webinars for organizations throughout the United States. Please contact nene@chaffe-associates.com to discuss topics and speaker availability.