Creating Value

We believe that shareholder value is created in three ways: growth in operating cash flow (EBITDA), retirement of debt, and increasing the multiple which the market will pay for a business. Typically this last method comes from making fundamental changes to the growth prospects, earnings consistency or balance sheet characteristics of the company. Since 1989, Goldner Hawn has worked to create value in each of these three ways. The relative means of value creation have been as follows: