Franklin Nova Group Gains Valuation Certification from PA Public Utility Commission
Franklin Nova Group announced it has qualified as a certified Pennsylvania Utility Valuation Expert. The certification, granted by the Pennsylvania Public Utility Commission, permits Franklin Nova Group’s valuation team to assess and assign fair market values to municipality-owned utility systems, including water delivery and wastewater treatment systems. Brian Sarkis, Franklin Nova Group founder and executive director, made the announcement.
Under legislation signed by Pennsylvania Governor Tom Wolfe in 2016, municipalities electing to sell their utility assets to a recognized and regulated utility can retain a certified valuation firm to determine fair market value of their respective systems, including potential income that would be generated from such systems. The legislation’s intent is also to protect potential buyers, which prior to the legislation becoming law, had to solely bear the risk of such acquisition without reasonable expectation of how such an investment would perform.
“This certification allows Franklin Nova to perform this highly-specialized service, and adds to our already established valuation portfolio,” stated Sarkis. “We seek to leverage this certification to provide transparent solutions to both municipalities and utility companies considering these complex transactions.”
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Brian Sarkis - 412.206.1486