John P. Ellsworth, CPA, CVA, MBA – Shareholder
Waterdam Commons Office Park
157 Waterdam Road, Suite 280
McMurray, PA 15317
P. "Jack" Ellsworth is shareholder in the Peters Township office of Cottrill, Arbutina & Associates. With Big Four experience, he is a certified public accountant and certified valuation analyst and has spent more than two decades in the profession. He is experienced in assisting owners of closely held businesses with exit planning, valuations and litigation support, as well as conducting annual audits for non-profit and government clients needing to be compliant with stringent reporting requirements. He has been admitted as an expert witness on valuation matters by the Court of Common Pleas of Allegheny County, Pennsylvania.
In the area of exit planning and valuations, Mr. Ellsworth specializes in guiding business owners through a planning process for a transition away from their firm and onto the next phase of their lives. He and his colleague Tod Arbutina are co-editors of the firm's Exit Planning Review newsletter. They also have authored the foreword to the book, How to Run Your Business So You Can Leave It in Style, by John H. Brown, featuring the Seven Step Exit Planning Process®. This is a road map for unlocking wealth within the enterprise, converting that value into cash, and making a sale to the buyer of their choice, at the fair price they desire, at the time of their choosing.
Mr. Ellsworth is adept at helping clients manage the emotions of the process and in becoming “unstuck” in their thinking. Among his clients has been a construction business owner looking to transfer ownership to a group of employees, and the owner of a racehorse training facility who sold his business to a third party.
For clients in the medical device, manufacturing, engineering and aviation fields,
Mr. Ellsworth has served as an interim or part-time chief financial officer/controller. He assists small business owners with business planning, budgeting, financial projections and forecasts. He also serves clients in the Marcellus Shale, oil and gas, and hazardous waste industries. In the litigation support arena, his services are used in situations of business disruption, economic damages, divorce and partner disputes.
In the not-for-profit and government sectors, Mr. Ellsworth leads annual audits that focus on financial reporting, internal controls and compliance with governmental regulations. As many clients receive large federal grants, he works to verify their adherence with the rigorous reporting requirements required for such grant recipients. He and the firm devote a substantial amount of time to this niche, and enjoy sharing best practices and advice on recommended processes and adjustments with clients.
Prior to joining Cottrill Arbutina, Mr. Ellsworth was corporate controller for a publicly-traded medical device company. Earlier, he worked in the healthcare industry as director of financial accounting and reporting for one of the largest healthcare systems in Pennsylvania. He began his career with the Pittsburgh office of Coopers & Lybrand.
Mr. Ellsworth is a member of the American Institute of Certified Public Accountants, Pennsylvania Institute of Certified Public Accountants, the National Association of Certified Valuation Analysts and has served as a board member of the Pittsburgh Chapter of the Institute of Management Accountants. He received his bachelor of arts from Duquesne University and an MBA from the University of Pittsburgh Katz Graduate School of Business.
He serves on the board of Angels’ Place, Inc., a non-profit organization providing services to single, low-income student parents and their children. He has been interviewed on television about the roles CPAs play with their business clients. He is a member of the Peters Township Chamber of Commerce, the McMurray Chapter, Professional Referral Exchange and the speakers bureau of the PICPA.