Leonard P. Devaney, ASA is a Director in the Valuation & Financial Opinions Group. His concentration is in Machinery & Equipment Appraisal. Mr. Devaney has over 20 years of valuation consulting experience and is well versed in a variety of valuation issues concerning the domestic and international markets. He has provided valuation and consulting services for numerous purposes including, but not limited to federal income tax compliance, purchase price allocation (SFAS 141), ad valorem tax, leasing and financing. Mr. Devaney has significant valuation experience in a wide range of industries and has provided valuation consulting services in Europe, Asia, Canada and Latin America. Mr. Devaney has conducted valuations of the fixed assets of several major industries of a Latin American country in order to assist that government in its privatization efforts. He has also determined the liquidation value of an ethanol production facility; the appraisal was used as a negotiation tool between Department of Energy officials and representatives of a major lending institution. In addition, Mr. Devaney has conducted numerous valuations of railroad infrastructure, right-of-way and personal property for purchase price allocation and ad valorem tax purposes. Prior to joining our firm, Mr. Devaney was a senior manager with Deloitte & Touche LLP s Financial Advisory Services Group. In this position, Mr. Devaney played a key role in establishing an off-shore tangible asset valuation practice and was active in several committees for improving and standardizing valuation training, practices and procedures. Mr. Devaney earned a Bachelor of Science in Civil Engineering from the University of Illinois at Urbana-Champaign. He is an Accredited Senior Appraiser (ASA) in the Machinery and Technical Specialties discipline.