- When was your firm founded?
- Who founded your firm?
Michael Ceschini, CPA, CCIFP, CM&AA, Managing Member
- Where is your firm based?
Offices in Miller Place, NY (Suffolk County) & Manhattan
- How big is your firm?
- Is the company a family-owned business?
- What type of subcontractor are you?
Professional Services / CPAs
- What have been some of the firm’s major accomplishments; major projects?
We assisted a long-time specialty subcontractor prepare their company for sale by assembling an experienced M&A advisory team to maximize the value of the company and cash to the owner at closing. Key Points:
- Determined a realistic supportable range of value for the company so as to manage the owners expectations
- Enhanced the value of the company prior to sale by focusing on core competencies, streamlining processes, and reduction of certain expenses
- Presented the company’s financials and future projections so that the prospective buyers had a good sense of the company’s earning potential
- Prepared the Due Diligence documents in a complete and organized system using a cloud-based data room so that we could prepare a high-quality business summary—also known as a CIM (Confidential Information Memorandum).
- Transaction resulted in a $65 million sale with very income tax favorable terms to the seller so as to net more cash to the seller
- Where does Your firm operate-just NY or other areas?
NYC, Long Island, New Jersey & CT
- What have been some of the unique traits of the firm?
What makes our firm unique is that we are a boutique entrepreneurial firm offering a more intimate experience for our clients. In what is quickly becoming a pond of large firms, through mergers and acquisitions, we at Ceschini CPAs are confident that by continuing to offer this boutique experience we remain a beacon for those who prefer one-to-one service.
- How has your firm been involved in the construction industry? (Associations, etc.)
We are members of the CFMA – Construction Financial Management Association, the ICCIFP – Institute of Certified Construction Industry Financial Professionals, and the AM&AA – Alliance for Mergers & Acquisitions Advisors.
- What are some challenges the firm has overcome?
Ironically, what has been our challenge has also been our strength—being a smaller firm has its challenges in that we might not be as visible as some of the other large firms. On the flip side, we are garnering interest from many in the construction industry who have used a larger firm and were dissatisfied due to lack of personal service, which has directly benefited us.
- What does the firm think it’s legacy has been for the NY construction industry?
Serving this industry for almost 20 years has allowed us to provide the construction industry and its professionals with business-wise accounting solutions to the many issues contractors face with succession planning, cash flow management, tax planning, minimization strategies, merger and acquisition due diligence and many other strategies in order to help construction contractors and subcontractors run their businesses with a holistic approach.
- Why did you join the Subcontractors Trade Association?
To be able to provide financial insight and thought leadership to those in the field of construction, helping those professionals navigate the many new financial challenges they are facing amidst these unprecedented world events.
- We will include your mailing address, location, contact information – but please let us know of anything else you would like to include in your STA new member profile:
Ceschini CPAs was recently included in Construction Executive’s Top 50 Construction Accounting Firms Executive Insights Special Section in their 200th anniversary issue.