Tangible Asset Valuations
Tangible Asset Valuation
DLS Marine (DLS), an affiliate of The McLean Group, provides marine appraisal, surveying, and claims services worldwide. Established in 1968, DLS has assembled a technical staff comprised of the largest concentration of NAMS certified surveyors and ASA certified marine appraisers in the industry. DLS is headquartered in New Orleans, LA and has offices in Houston, TX, Tampa, FL, and Norfolk/Hampton Roads, VA. Learn more: www.DLSmarine.com
Team Leaders
Harry Ward
Harry Ward has more than 30 years of senior executive and M&A advisory experience across a range of industrial and technology sectors. He has advised on both buy side and sell side transactions, including the sale of 3 Phoenix to Ultra Electronics, AOCE to CAE, and the divestiture of GlobalTrak to Orbcomm. His buy side clients have included NASA, defense contractors, and companies in the aviation, SATCOM, and maritime technology industries.
Mr. Ward has extensive experience with the creation of ESOPs, notably advising on the sale of Linxx Global Solutions to a private equity funded leveraged ESOP, and regularly assists clients in evaluating strategic alternatives. He also brings a strong background in managing and growing small to mid-sized companies, as well as technical expertise in technology and maritime segments. Over a three-year period, he led a West Coast distribution company through the development and execution of a growth plan, culminating in its successful sale to a strategic buyer.
Based in the Hampton Roads, Virginia area, Mr. Ward frequently travels throughout the East Coast, Gulf of Mexico region, Southern California, and Huntsville, Alabama, the nation’s space and missile hub. He regularly publishes industry M&A reports and serves as a guest speaker and panelist for business and civic organizations. A graduate of the U.S. Naval Academy, Mr. Ward served multiple deployments from both U.S. coasts as a Navy helicopter pilot and survival instructor (SERE School). He earned an MBA in finance from San Diego State University.
Professional Credentials
- Certified Exit Planning Advisor
- FINRA Series 63, 79
- Accredited Senior Appraiser (ASA) – Marine vessels and equipment
Harry Ward
Managing Director
Investment Banking
Representative Engagements
More About DLS
Related News
The Value of a QofE Beyond Standard EBITDA Normalizations
A Quality of Earnings review delivers value well beyond confirming normalized EBITDA.A Quality of Earnings review delivers value well beyond confirming normalized EBITDA. While standard adjustments address non-recurring items, a rigorous QofE examines revenue quality, customer concentration, working capital trends, and accounting policy risks that directly influence enterprise value and deal structure. For buyers, this analysis sharpens the basis for purchase price and surfaces integration risks before close. For sellers, a sell-side QofE strengthens credibility, accelerates diligence timelines, and reduces the likelihood of price chips late in the process. In middle market transactions, where financial reporting is often less formal, the depth of a QofE can be the difference between a clean close and a renegotiated deal. […]
PCC Elections for Private Company Acquisitions: What PE Sponsors, Portfolio Company CFOs, and Their Advisors Need to Know Before Making the Call
Private Company Council (PCC) accounting elections offer PE-backed companies a meaningful opportunity to reduce the scope and cost of purchase price allocation work, but the decision carries long-term implications that extend well beyond the close. Under ASU 2014-02, private companies may amortize goodwill on a straight-line basis over up to 10 years, eliminating the burden of annual impairment testing. Under ASU 2014-18, customer-related intangibles and noncompetition agreements may be subsumed into goodwill rather than separately recognized and valued. Together, these elections can streamline acquisition accounting and lower ongoing audit and compliance costs, but they also introduce restatement risk if the portfolio company later pursues an IPO or is acquired by a public buyer. For PE sponsors, the decision should be evaluated in the context of the fund’s exit thesis and applied consistently across portfolio companies. […]
Revenue Looks Strong on Paper – But ASC 606 Compliance in Construction Tells a Different Story
Revenue looks strong on paper – but ASC 606 compliance in construction tells a different story. In this case study, The McLean Group’s Financial Consulting and Transaction Due Diligence teams walk through a real construction services engagement where a project-level ASC 606 review surfaced a pattern of revenue recognition issues that materially changed the earnings picture. We examine the KPIs that matter most, including cost-to-complete accuracy, change order approval rates, and over and under billing trends, and explain why ASC 606 compliance deserves the same rigor in diligence as working capital analysis or debt-like items. […]