Lindsey Lee, CPA/ABV, ASA, CFA
Vice President
vCard and email: llee@hfbe.com
Lindsey has over 25 years experience providing valuation, financial advisory, accounting and legal services to private, closely held businesses, venture backed, emerging growth companies and publicly traded corporations. He has participated in valuations and advisory opinions for estate, gift and income tax requirements, financial reporting, fairness opinions, litigation support, mergers and acquisitions and private placements. His experience includes preparing valuations, and reviewing valuations prepared by third parties, for purchase price allocation under FAS 141, goodwill impairment testing under FAS 142, setting exercise prices for employee stock options in compliance with IRC 409A and determining the fair value of stock options under FAS 123(r). Subject industries have included manufacturing, wholesale/distribution, retail, energy services, power, telecommunications and information technology, among others.
Experience
2007 to Present
Howard Frazier Barker Elliott, Inc.
Houston, Texas
Position: Vice President
Duties: Leader of valuation for financial reporting practice. Manages the execution of financial analysis and evaluation of corporation securities and partnership interests of private and closely held companies as well as publicly traded corporations for financial advisory and valuation projects.
2005 to 2007
UHY Advisors FLVS, Inc.
Houston, Texas
Position: Senior Manager, Forensic, Litigation, Valuation Services
Duties: Provided valuation services of business entities, securities, ownership interests and intangible assets for transactions, tax compliance and reporting, accounting compliance and financial reporting. Assisted audit department with review of measurements of fair value for financial reporting prepared by third parties. Provided litigation support services, including calculating economic damages.
2001 to 2005
Hein & Associates, LLP
Houston, Texas
Position: Senior Manager, Litigation, Valuation Advisory Services
Duties: Provided valuation services of business entities, securities, ownership interests and intangible assets for transactions, tax compliance and reporting, accounting compliance and financial reporting. Assisted audit department with review of measurements of fair value for financial reporting prepared by third parties.
1999 to 2001
Polaris Group, Inc.
Houston, Texas
Position: Vice President
Duties: Provided mergers and acquisition advisory services to emerging growth companies.
1996 to 1999
Bond, Taylor & Lee LLP
Houston, Texas
Position: Partner
Duties: Provided corporate and transactional legal services to emerging growth companies and owner-operated businesses.
1992 to 1996
McFarland, Grossman & Company
Houston, Texas
Position: Associate Director
Duties: Provided investment banking and corporate finance services for rapidly growing private and public companies and for businesses in consolidating industries.
1988 to 1990
Sugarland Properties
Houston, Texas
Position: Internal Auditor
Duties: Provided internal audit services for developer of First Colony.
1986 to 1988
Kenneth Leventhal & Company
Houston, Texas
Position: Semi-Senior Auditor
Duties: Provided audit, tax and due diligence consulting services to public and private companies in the real estate industry.
1983 to 1986
Sytech Corporation
Houston, Texas
Position: Controller
Duties: Controller and data processing operations manager for privately held seismic data processing center.
1982 to 1983
Arthur Anderson & Co.
Houston, Texas
Position: Staff Consultant
Duties: Provided information technology consulting services to Fortune 500 clients.
Education
May 1991
South Texas College of Law
Juris Doctorate
American Jurisprudence Award, Torts II
December 1983
The University of Texas at Austin
Master of Business Administration
May 1980
The University of Texas at Austin
Bachelor of Arts with Honors, Government College of Liberal Arts Dean’s Distinguished Graduate
Professional Designations
Accredited Senior Appraiser, American Society of Appraisers
Accredited in Business Valuation, American Institute of Certified Public Accountants
Chartered Financial Analyst, CFA Institute
Attorney (Licensed in the State of Texas)
Certified Public Accountant (Licensed in the State of Texas)
Professional Affiliations and Community Activities
American Institute of Certified Public Accountants
Texas Society of Certified Public Accountants
Houston CPA Society – Litigation and Valuation Services Committee
American Society of Appraisers
CFA Institute
CFA Society of Houston
State Bar of Texas – Business Law Section
Rotary Club of Houston
Rouse House Concerts
Selected Speaking Engagements
"Measuring Economic Damages: An Overview of Texas Law for Accountants", Texas Society of Certified Public Accountants, Houston Chapter, July 27, 2005.
"Measuring Economic Damages in Commercial and Consumer Cases”, Houston Bar Association Commercial and Consumer Law Section, January 2005.
"Texas Economic Damages Update: Accounting and Valuation Trends”, Accounting and Valuation in Law – Essentials and Current Legal Issues, University of Houston Legal Foundation, November 12, 2004.
"Proving and Measuring Economic Damages”, Zimmerman, Axelrad, Meyer, Stern & Wise, P.C., October 11, 2004
"Basic Valuation Concepts for Attorneys and Accountants”, American Association of Attorney-Certified Public Accountants — Houston Chapter, May 9, 2003.
Published Articles
"Considering Forecasts of the Economy’s Long-Term Growth Rate When Determining a Firm’s Stable Growth Rate”, CPA Expert, Fall 2006.
"In All Fairness: Why Directors Should Retain Independent Advisers for Transactions”, The Daily Deal, May 15, 2006, co-author with Jeffrey M. Botvinick.
"Section 409A: IRS Makes New Rules for Valuing Stock Options”, Houston Business Journal, June 5, 2006.
"Using Accounting Data to Estimate Credit Adjusted Risk Free Rate”, CPA Expert, Summer 2005.
"Which Time Factor to Apply to a Terminal Value When Using the Mid-Year Discounting Convention: A
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