Tim McDaniel To Lead In New Position, Mary Beth Koester Named Director of Rea & Associates Business Valuations Practice
Dublin, Ohio – Rea & Associates, a regional accounting and business consulting firm, announces that Mary Beth Koester, CVA, has been promoted to lead the firm’s business valuations team. Tim McDaniel, CPA/ABV, ASA, CBA, will continue to offer his expertise in a new role within the business valuations team.
In her new role, Koester will oversee the firm’s business valuation practice, will help business owners understand the true value of their businesses and will provide clients with continued education and proven strategies designed to minimize risk while increasing cash flow. She previously worked as a senior manager on the team.
With 12 offices across the state of Ohio, Koester is committed to ensuring that all valuation clients continue to receive exceptional service in every stage of their ownership journey.
“I am happy to hand the reins over to Mary Beth. She has been an asset to our business valuation division and will continue to be a great leader. In fact, I would even say that hiring her was one of the best decisions I’ve made during my 30-year career. She is more than ready for this role,” said McDaniel. “In the meantime, I’m excited to transition into my new role. This move will allow me to help accelerate the growth of our firm’s dedicated consulting group.”
In his new role, McDaniel will help business owners develop strategies that will allow them to successfully transition out of their ownership roles. Additionally, in his new role, McDaniel will help business owners determine ways to increase their business’s value, analyze various exit strategy alternatives, set up succession plans and conduct ESOP feasibility studies.
“My new role with the firm will allow me to focus on working with business owners on developing the best strategies and methods to allow them to exit their business on their own terms,” explained McDaniel. “I love working hand-in-hand with the business owner in their journey to find the best plan for their situation. With 30 years in the business valuation and consulting field, I have seen it all on how business owners exit their business.”
The consulting team at Rea & Associates is committed to working closely with owners of privately held and family-owned businesses to determine the ideal destination for owners in search of ways to preserve their businesses and their legacies.
Koester began her career with Rea & Associates in 2016 as a manager on Rea’s business valuations team. Since joining the firm, she has been instrumental on numerous valuation projects for business planning purposes, sales, gifting and partnership transitions. She specializes in providing veterinary, dental, and medical practice valuations.
After earning her bachelor’s degree in accounting and international business from Cleveland State University, Koester went on to work as a business valuation professional in various capacities. She earned the Certified Valuation Analyst designation in 2017 and, in June, Koester was presented the 40 Under Forty Award by the National Association of Certified Valuators and Analysts (NACVA).
In addition to being an active NACVA member, Koester is a consultant with VetPartners and a member of the Ohio Society of CPAs and Columbus Young Professionals. She also regularly provides thought leadership pieces on the topic of business valuations and has been featured in Veterinarian’s Money Digest, Sageworks, and Forbes. She also writes regularly for Rea & Associates and has appeared on the firm’s award-winning podcast, unsuitable on Rea Radio.
McDaniel started his career at Rea & Associates in 1999. Since joining the firm, he has worked on business valuations, succession and exit planning, business strategy development and business investments. He specializes in business valuations and strategic planning with regards to true business value.
McDaniel earned his bachelor’s degree in accounting from Bowling Green State University and has been actively involved in over 2,500 valuations and succession projects throughout his 30 year career. He is an active member in the Ohio Society of CPAs, American Society of CPAs, Institute of Business Appraisers and the American Society of Appraisers. In addition to his various professional development memberships, McDaniel is the former Westerville Central Lacrosse treasurer, the former strategic planning advisor for International Friendships Inc. and has been on the Master’s degree advisory board for Ohio Northern University. He is also the author of Know and Grow The Value of Your Business: An Owners Guide to Retiring Rich which highlights the importance of understanding a business’s true value and the steps business owners can take to increase their business’s value.