KATS M & E Appraisals

Welcome to KATS Machinery & Equipment Appraisals

Trusted valuations of commercial and industrial machinery & equipment

Site Content


Crawler Crane

  • Competitive Advantages
  • Capabilities Overview
  • Industry Experience

Appraisal Services

Automated Foundry

  • Equipment Appraisal
  • Appraisal Review
  • Inventory Appraisals

Team Members

Joel D. Gonia, ASA

  • Appraisal Team Members
  • Qualifications
  • Brief Bios 


What our Clients say

  • What our clients say
  • Professionalism - Credibility
  • References

Past Projects

KATS M & E Past Projects

  • List of Past Projects
  • Local, National, International
  • Middle Market to Fortune 500

Request for Proposal

Data Request to Submit Proposal

  • Requested Data to Submit Proposal
  • Project Specific
  • Appraisal Services, Consulting

About Us

Coal Transfer Systems

Competitive Advantages

We live in a world of supply and demand, where to estimate value we analyze risks and associated benefits. Valuation is simply a measure of risk within specific market criteria. It is the understanding of these market conditions and the correct employment of appropriate valuation methodologies that separate one appraiser from another. 

KATS M & E’s Competitive Advantages include:

  • Solid reputation for providing real world values
  • Competitive Fees -- Majority of our work is competitively bid
  • Timing -- Most projects completed within 2 – 3 weeks
  • USPAP Compliance for ALL work
  • Multidisciplinary Team Leadership
  • Ability to ramp up and / or customize your Project -- One location or many, few assets or thousands, we have the necessary support in-house
  • Communication -- Our Senior Appraiser is directly involved in each project and either he or our Team Leader is available to discuss all aspects of your project before, during, and afterward    

American Society of Appraisers

Capabilities Overview

  • Senior Appraiser: Joel D. Gonia, ASA – ARM & MTS / M & E
    • ASA - Appraisal Review and Management
    • ASA - Machinery Technical Specialties
    • Accredited Since 1989
    • Compliance with USPAP
    • 30 + Years Experience
  • True Team Approach utilizing a multidisciplinary office
  • Annual M&E appraised valuations in excess of $1 Billion
  • Over 100 Projects Annually
  • General Expertise (All Industries) vs. Specific
  • Competitive Fees
  • Most projects completed within 2 – 3 weeks
  • Core Services
    • Equipment Appraisals
    • Appraisal Review
    • Inventory Appraisal
    • Consulting
  • Clientele 
    • Commercial Lending 
    • Financial Reporting 
    • Tax Appeal 
    • Portfolio Management 
    • Estate Planning 
    • Litigation Support 
  • Projects located throughout U.S., Canada, Mexico

Information Technologies Equipment

Industry Expertise

  • Aggregate 
  • Automotive 
  • Construction 
  • Food & Beverage 
  • Healthcare & Medical 
  • Manufacturing - Metal, Plastic, Rubber, Glass, Wood
  • Mining and Oil & Gas 
  • Power Generation – Bio-Diesel, Coal, Gas, Nuclear 
  • Processing: Chemical, Pharmaceutical, Paper, Steel, Waste
  • R & D and IT Systems 
  • Rail Road 
  • Specialty - High Tech  
  • Telecommunications 
  • Textiles 
  • Transportation


Appraisal Services

Coal Transfer & Storage Systems

Equipment Appraisals

According to the agreed Scope of Work, we will perform valuation services to render a professional opinion of value for Subject assets. Procedures employed during this process include:

  • Site Visit and personal observation (if requested)
  • While on site, we will confirm / verify all data provided by the client, literally observing each major asset to record  pertinent data
  • When necessary, corrections will be made to the descriptive data
  • Photographs are taken and stored in our project file for each major asset and actual ID Plate, and are available upon request
  • Reconcile the individual asset data within whatever listings provided
  • Additionally, we will
    • Discuss atypical installation costs
    • Discuss typical / actual asset use 
    • Discuss maintenance procedures
    • Discuss overhauls and rebuilds
    • Discuss potential / actual hazardous substances on site
  • Once the field work is complete, we will
    • Create / Modify the Spreadsheet Data representing Asset Details
    • Research Cost New, Used Retail, Wholesale and Auction as appropriate
    • Develop Value Analyses considering the Sales Comparison, Cost and Income Approaches
    • Reconcile all relevant data to indicate our Conclusion of Value
  • A Preliminary Draft will be submitted to the client in an attempt to reconcile the asset listing and discuss / disclose the appraisal process and preliminary findings
    • Upon receipt of comments and / or additional data, we will modify the appraisal as appropriate and submit the Final Report 

Communication and coordination are critical – If necessary, we will visit multiple locations simultaneously by use of several teams, each lead by one of our principal appraisers. Timing will dictate our approach / strategy to complete the necessary tasks – We will dedicate the appropriate manpower at each stage to accomplish all tasks on time in a professional manner.

Upon further disclosure and understanding of the Scope of Work, we will submit a detailed itinerary to identify who – where – when - how to accomplish the tasks.


All appraisals completed by KATS M& E, LLC comply with the Uniform Standards of Professional Appraisal Practice – Most recent edition effective January 1, 2018. Authorized by the US Congress, USPAP is issued by the Appraisal Foundation to provide standards for developing and communicating appraisals within  the United States. 

Commercial Agriculture Equipment

Appraisal Reviews

Appraisal review services allow the client to better understand the original appraiser’s perspective, analyses and conclusions of value. The review appraiser may, upon request, provide his own independent opinion of value.

Typical applications include:

  • USPAP Compliance 
    • We will verify the original report was performed in accordance with professional valuation standards
  • Opinion of Value
    • Upon request, we will provide an opinion of value based on an independent analysis of subject assets and market data 
  • Peer Review 
    • An independent analysis and opinion for internal purposes   

Automotive Stamping

Inventory Appraisals

 A combination of accounting, physical audit, and conventional valuation methodologies, inventory appraisals provide a current value estimate for raw materials, WIP, and finished goods.  Procedures utilized include:  

  • Total Inventory in stock: (Total qty of items / Total line items / Total printed pages) 
  • Initial Price: The total “(price, cost, value)” of the inventory in $ 
  • Reported Value: (Represents Owner’s estimate of Market Value) tracked by accounting / inventory software (May or may not be appropriate!) 
  • Item Disbursement: (FIFO (First in, First out)) and as required 
  • Average Turn-over duration: (months / days / years) 
  • Average Shelf Life: (months / days / years) 
  • Average Age: Median age is (months / days / years) 
  • Product Mix: (Most common manufacturers and types of items) 
  • Obsolescence: (How is obsolescence computed / is it at all?) 
  • Locations of Inventory items: (Where is the Inventory physically located) 
  • Date of most recent Physical Audit: (Who did it / When was it done / Where was it done / % verified)
  • Customer Base: (Who are they / What type of businesses / Where are they located)
  • Inventory Accounting: (Manual / Automatic – If automatic, need Name, Mfg. and version of software) 
  • Audit Procedures 
  • Accounting / Tracking Procedures: (Complete description of how items are tracked and accounted for, including a full description of the software, if used) 

Team Members

Joel D. Gonia, ASA

Joel D. Gonia, ASA

Accredited Senior Appraiser ( ASA ) by the American Society of Appraisers 

since 1989, within the valuation discipline of Machinery / Technical Specialties – Industrial Machinery & Equipment and Appraisal Review & Management. 

Joel is one of the few professional appraisers to spend his entire career within the valuation industry, 30 + years and counting. His expertise as a “generalist” appraiser within the Machinery & Equipment field began with a contract with the US Small Business Administration providing equipment appraisals to update their portfolio – Over 600 loans on all types of assets. Over the years he has gained considerable knowledge regarding numerous types of equipment and established a solid reputation for providing straight-forward “real world” values. 

Jeffrey L. Burton

Jeff is primarily involved with the overall management of the 

company, including oversight of multiple divisions. 

Providing appraisal services full time since 1991, Jeff is active with Real Estate, Machinery & Equipment and Business Valuation 

Michael Gonia

Michael spent over 25 years as a licensed representative in Financial Services, working for International brokerages and banks as well as smaller, regional firms. His experience in financial and investment analysis and his extensive contacts throughout the business sector make him ideally qualified to serve as principal researcher for the firm over the last ten years. Michael’s ability to not just look at the equipment, but to engage people in conversations about their business, leads to gaining a much more accurate picture of the assets and markets being inspected. 

Michael has become a specialist in research and market analysis within the Machinery & Equipment industry with exposure to a variety of asset types and uses. 

J. Brian O'Connell, ASA

Accredited Senior Appraiser ( ASA ) by the American Society of Appraisers 

within the valuation discipline of Machinery / Technical Specialties – Industrial Machinery & Equipment and Inventory.

After serving as chief appraiser at two large banks, Brian brings more than thirty years of appraisal and banking experience to clients. Brian was the first of only two in the U.S. to attain the designation of senior appraiser in inventory from the American Society of Appraisers (ASA).  He was presented with the Harry H. Chen Memorial Instructor Awards of Excellence from the Commercial Finance Association. Brian developed the original National Inventory Certification exam for the ASA.

Brandon Keel

Brandon brings over 20 years of manufacturing experience to our team, including hands-on process engineering, product development and equipment purchasing.

Brandon assist with the appraisal of various types of industrial and commercial equipment and is actively seeking his Accreditation with the ASA. 

James D. Satterwhite

Jim is nationally recognized as an expert in the valuation of railroad locomotives and rolling stock for both passenger and freight. 

He has owned the marketing company, Coastline Rail Service, and the leasing company, JNS Marketing Group, LLC, since 1988 dedicated to the sale and leasing of railroad assets.


In addition to RR assets, Jim assist with the appraisal of various types of industrial and commercial equipment and is actively seeking his Accreditation with the ASA. 

Bill Moore

Bill is a Certified General Real Estate Appraiser with his primary appraisal focus on income producing and special purpose properties, including campgrounds, marinas, golf courses (public & private), a minor league baseball stadium, assisted living facilities, lodging properties, hospitals, convenience stores, stockyards, specialized industrial properties and “trophy” residential properties.

James Housley

Thirty five (35) plus years experience in commercial nuclear power and Department of Energy with emphasis in Chemistry and Power Generation and is a Senior Nuclear Safety Engineer. He has specific experience with power generation and laboratory assets.

Jim serves as our project coordinator and also assist with on-site field work. As project coordinator, he not only schedules necessary site visits, but tracks all aspects of a project from start to finish. This becomes particularly critical for projects with multiple locations. 


John Miller, President

SUPERB Industries, Inc.

An INC5000 Company


"Joel Gonia has provided us with appraisal services over the past 10 years. He has always done a thorough job of establishing value based on the current market conditions. He is competent, professional, and reliable."


Darrin J. McCauley

Senior Vice President

Old National Bank


We rely on Joel to provide accurate appraisals, charge competitive fees, and complete our projects quickly. In the fourth quarter of 2013, Joel and KATS provided guidance leading to an innovative approach to help our bank close on an important new client financing.


Rod England

Chief Financial Officer

Scotty’s Contracting & Stone, LLC

“We have worked with Joel for our appraisal needs on numerous occasions and have always found his services to be accurate, timely and fair.  Joel is very responsive and reacts quickly when there is a tight timeline.  Also his knowledge of our industry makes my job easier.  He already understands the terminology and cost drivers in our industry. “ 

Eric A. Walker, CPA, MBA

U.S. Bank

Community Banking


I have worked with Joel for more than 12 years. He has always provided services in a timely fashion. I appreciate his ability to provide credible appraisals across a broad spectrum of industries.


Kyle Wininger

Harding, Shymanski & Company, P.S.C

Joel Gonia is a critical part of my valuation projects. He is experienced, responsive, and professional.  He is dedicated to maintaining the highest professional appraisal standards.

Randall Anderson, CPA


Focus CPAs 

I have worked with Joel for many years on multiple projects – He has always performed beyond expectations. 


800 Ton Stamping press

Banc of America Leasing – Paul Cogley ( 401 ) 278-8036

BKD CPA – Jerry Henderson ( 502 ) 581-0435

Chase Bank -- Commercial Finance, Steve Cooper ( 502 ) 566-2793

Chase Bank Equipment Finance – Tom Sexton ( 614 ) 213-4883

Crowe Horwath – Valuation, Bill Probus ( 502 ) 420-4440

G E Capital – Equipment Finance, Bryan Nusky ( 502 ) 456-4311

Hilliard Lyons – Jim Gravitt ( 502) 588-8482 

Huntington Bank – Equipment Finance, Brad Smith ( 513 ) 762-1886

Huntington Bank – Middle Market, Tom Tulloss ( 513 ) 762-1885

Key Equipment Finance – Scott Daugherty ( 317 ) 464-8062

Old National Bank – SVP, Darrin McCauley ( 502 ) 540-7315

Stock Yards Bank – Commercial SVP, Bill Otten ( 502 ) 625-3977

Superb Industries – John Miller, President ( 303 ) 852-0500

US Bank – Market President, David Wombwell ( 502 ) 562-6685


Past Projects


Allegany Ballistics 


Chrysler Automotive 


Clark Memorial Hospital 


Cox Interiors  


Dave O’Mara Contractors 


Eagle Industries 


Florida Tile


Great Escape Theatres


Jones Plastics


Miller’s Ale House


Nunn Milling






Renovo Rail 




Ross Castings 


Spencer Industries 


Superb Industries 


The Wells Group 


Toyota Manufacturing 


TSS Technology 


W Rogers company 


Zeon   Chemical 


Almost Family 


Cincinnati Inc. 


Clean Water 


Cullman Casting  


Delaco Kastle  


Eastman Chemical Co 


General Electric – Ind’l 


Harrison Gypsum 




NA Industries  


Odom Industries 


Papa Johns


PSC Industries


Republic Wire


Rieth-Riley Construction


Scotty’s Contracting


St. Mary’s Hospital


Superior Battery 


Thermwood Corp 


Trace Die Cast 


Universal Trailers 


Wabash Steel 


Zores,   Inc. 


Appriss Inc. 




Complete General 




Duncan Machinery 


Easy Gardener Products  


General Motors 


Jewish Hospital 


Mckechnie Vehicle 


Net Shape Technologies 


Orbital ATK 


Proctor & Gamble 


Quality Industries 


Republic Wire 


RJ Corman Rail 


Southern Recycling 


Sterling Boiler  


Tarter Gate 


Toyota Boshoku  


Trillium Industries  


Vivid Impact 


YFS Automotive

Data for Proposal

Aluminum Casting

Thank you for your interest in KATS M & E and allowing us the opportunity to provide services -- Our multi-disciplinary valuation and consulting services may be provided on a separate basis, or coordinated together depending on your specific requirements. Data requested herein is necessary to identify an appropriate Scope of Work.  Upon receipt of sufficient data, we will provide a Quote identifying our estimated range of fees and our anticipated timing to complete the project. 

At a minimum, we need to know the following:

Metalworking Machine Tools

For Each Project

  • What services do you need:
    • M & E Valuation 
    • Appraisal Review and / or Management
    • Inventory Valuation 
    • Consulting
  • Intended Use for appraisal
    • Commercial Lending
    • Financial Reporting
    • Purchase  / Sale Considerations
    • Other ?
  • Intended Users of the appraisal
  • Who is the Client ( Fiduciary Confidentiality )
  • Who will pay our Fees
  • What is the Effective Date of Value
  • What valuation concept(s):  
    • Value In Use
      • Fair Market Value - In Continued Use
      • Fair Value
      • Orderly Liquidation Value In Place
    • Value In Exchange 
      • Fair Market Value Removed
      • Orderly Liquidation Value Removed
      • Forced Liquidation Value via Auction
      • Fair Value In-Exchange
  • How many separate locations and where are they
  • Is the appraiser required to personally observe the assets
  • Timing:
    • How soon do Draft Schedules need to be submitted
    • When does the Project need to be TOTALLY completed 

Automotive Stamping

Machinery & Equipment Appraisal

  • Description of assets and how are they utilized
  • Provide an Asset Listing / Description for our initial review
    • Depreciation Schedule
    • Insurance Listing
    • Previous Appraisal Listing
    • Or an Internal Asset Listing with detail as appropriate 
  • Asset Threshold:  Only appraise assets  > 
    • $50,000
    • $25,000
    • $5,000
    • Should Minor Assets be included via Lot
  • If personal observation is required
    • Do all assets need to be observed
    • Does the Asset Data need to be independently verified
    • Does the Operating Condition need to be independently verified
    • Does the Preventive Maintenance need to be independently verified

Appraisal Review

  • Provide Original Appraisal Report with all supporting documents and attachments
  • Provide Original Engagement Letter
  • Do you require an independent Opinion of Value
    • Sampling of Significant Assets
    • All Assets 

Inventory Appraisal

  • Briefly describe the company business:
    • Is company a retailer, manufacturer or distributor?
  • How many inventory locations are there?
  • Where are they located (City and State)
  • What are the inventory levels (in dollars) at each location?
  • Is the inventory tracked on a perpetual system?
    • If not, how is it tracked?
  • Where are the records kept?
  • Provide a summary description of the products produced at each of the locations/divisions.
    • Is a current inventory composition by SKU at cost available?
    • Is it available electronically?
  • Provide the amount of inventory in the distribution center as a percent of the total inventory.
  • Are inventory levels by month for the most recent twelve months available
    • Is inventory turnover by SKU available?
    • Is this available electronically?
  • Is a Stock Status Report as of latest month-end broken down as follows available?
    • Raw materials by type
    • Work-In-Progress
    • Finished goods
      • Is this information available electronically?
  • Provide a summary breakdown (in dollars) of the inventory by location.  
    • Further broken down by:
      • Raw material
      • WIP
      • Finished goods
    • Is this information available electronically?
  • Identify the software programs used.    


The following are examples of our work product and additional information regarding our firm, team members, qualifications, references, and data pertinent to the appraisal process.

Sample Reports demonstrate typical techniques and methodologies employed by the appraiser and how those results are communicated.  Our approach to each appraisal is two-fold: 

  • Development: In developing a personal property appraisal, an appraiser must identify the problem to be solved, determine the scope of work necessary to solve the problem, and correctly complete research and analyses necessary to produce a credible appraisal
  • Reporting: In reporting the results of a personal property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading

Each report has been sanitized and / or modified according to non-disclosure agreements and overall confidentiality. Details including attachments, original data, and specific analyses are not included.

Although you are welcome to download and review all information contained herein, ALL data is Copyright protected by KATS M & E, LLC, and no use is allowed unless authorized in writing by KATS M & E, LLC.

Contact Us

Drop us a line!

To discuss your potential project or to schedule an appointment:

Joel D. Gonia, ASA

Cell: 502 235-0727

Email: joelgonia@katsme.com 

Louisville, KY Office

2810 Rosewood Road

Louisville, KY 40031

855 466-4200

Corporate Office 

212 North Main Street

Nicholasville, KY 40356

859 885-3273