Anthony Festa is a Director with Cushman & Wakefield’s Valuation & Advisory practice, specializing in the valuation of machinery and equipment.
Since 1997, Mr. Festa has performed valuations of machinery and equipment for multiple financial statement and tax reporting purposes. These include Accounting Standards Code (ASC) 805 (formerly SFAS 141R), ASC 350 (SFAS 142), and ASC 360 (SFAS 144), as well as Internal Revenue Code Sections 861, 382, and 704(c). In addition, he also has experience performing valuations for internal management planning and consulting purposes as they relate to leasing and structured finance, property tax, litigations, bankruptcies and reorganizations such as fresh-start accounting and C to S corporation conversions, asset-based lending and insurable replacement cost studies.
Mr. Festa has valued machinery and equipment in numerous industries including, but not limited to: automotive, mining and milling, pulp and paper, semiconductor, aerospace and defense, textiles, broadcast and communications, chemicals, infrastructure, entertainment, food production, health care, hospitality, pharmaceutical, restaurants, telecommunications and financial services. His experiences in valuing machinery and equipment have taken him to over 40 U.S. states, as well as over 15 countries spanning across Western Europe, the Caribbean, Mexico, and Brazil.
Prior to joining A&M, Mr. Festa spent about six years with the valuation practice of Alvarez & Marsal, where he most recently served as a Senior Director in New York. There, he was responsible for conducting and overseeing the execution, and performing technical reviews of, all machinery and equipment valuation assignments in the region and the Midwest, as well as assisting in all regional and certain nationwide go-to-market activities. Before joining Alvarez and Marsal, he spent over seven years with the machinery and equipment valuation groups of both American Appraisal Associates and Ernst & Young’s Capital Equipment Group located in New York City.