• May 09, 2008
  Citadel Advisory Group Moves to New Offices read more
• December 08, 2007
  Founder and Managing Director of Citadel Advisory Group, Chris Frevert, was recently installed as the Conference Planning Chair of the M&A Source. He will be in charge of the next two conferences scheduled to be held in Denver, Colorado in June and Louisville, Kentucky in November 2008. read more
• September 20, 2007
  Todd Kerr joins Citadel Advisory Group; addition of prominent local business figure will expand Citadel's bandwidth. read more
• May 15, 2007
  Citadel Advisory Group named one of Northern Colorado's fastest growing companies. read more
• March 01, 2007
  Rick Snow has joined the company as Director of Legal Relations. Mr. Snow will liaison with clients’ legal advisors in the areas of transaction structure and contract negotiations. read more
• February 01, 2007
  David K. Smith joins Citadel Advisory Group as Financial and Accounting Relations Director. read more
• August 12, 2008
  Chris C. Frevert, Principal of the firm, has been granted certification as a Merger & Acquisition Master Intermediary (M&AMI) by the M&A Source, the world’s largest organization of middle market intermediaries. read more

Teamwork is the key to our success at Citadel. Many firms in our industry create a "lone wolf" culture within their offices by challenging associates to work against each other rather than as a team. Our philosophy revolves around the age-old adage that "two heads are better than one". That means that two dealmakers are assigned to every client to work on that clients behalf everyday.

Chris C. Frevert, CBI, M&AMI, Founder and Managing Director

A serial entrepreneur, Chris has owned and operated several businesses throughout the years. This has given him first-hand experience in business development, management, and operations. As an intermediary for more than eight years, he has honed his skills and knowledge of the exit process.
Chris has been awarded the Certified Business Intermediary (CBI) designation by the International Business Brokers Association for his demonstrated knowledge and performance of business transactions. He has also received the Merger & Acquisition Master Intermediary (M&AMI) designation awarded by the M&A Source, for proficiency in larger middle-market transactions. This most recent accomplishment places him in an elite group of Intermediaries as less than 75 professionals worldwide have completed the rigorous training and transaction experience required to earn the title of Master Intermediary.
Chris has a Bachelor of Science degree from Colorado State University and is a licensed Colorado Real Estate Broker. He is an active member of the M&A Source and serves as Chair of the Membership Committee. He also sits on the Board of Directors for the Colorado Association of Business Intermediaries (CABI),is a member of the Association for Corporate Growth (ACG), Alliance of Merger & Acquisition Advisors (AM&AA), and serves on the Editorial Review Board for the Merger & Acquisition Focus, a bi-monthly newsletter distributed nationwide.
Contact Chris

Susan Schell, Managing Director

Susan Schell is an experienced business executive and community leader. Her professional career began with work experiences in banking, financial planning and accounting. For three years, she owned her own management consulting firm while she also taught business management classes for the local community college. Among the services she provided to businesses were mediation, arbitration, business start up support, and human resources consulting.
Susan then spent 18 years as Vice President of Human Resources and Quality for Advanced Energy Industries, Inc.; a high technology company with offices in the U.S., Europe and Asia. After working with the company through its great expansion and a public offering, Susan retired to enjoy a four year career in retail. She opened her own store in Fort Collins in 1999. Her newly acquired retail background is instrumental in helping customer oriented businesses.
As an award winning Human Resources executive, Susan understands how a merger or acquisition can be facilitated by working closely with people. She has been a frequent public speaker. Over 100 of her management articles have been published in Fort Collins BusinessWorld Magazine. She has an MBA from Denver University and is currently on the adjunct faculty of the business college at Colorado State University.
In addition to her business focus, she has served on 20 advisory boards and is a member of the prestigious International Women’s Forum.
Susan currently holds the Series 7 and 66.

Todd Kerr, Managing Director

Todd brings over 20 years of experience in the private sector and has founded several companies in the consulting, retail healthcare, and technology sectors. Todd joined Citadel Advisory Group after his most recent startup, Reflections Medspa in Fort Collins, CO. Previous to Reflections Medspa, Todd was the founder of a management consulting firm that assists growing businesses in building market leadership positions through strategic vision and business planning. Todd spent 5 years as the President and CEO of Managed Business Solutions Inc., a two-time Inc. 500 I.T. outsourcing company where he lead the company through 20 consecutive quarters of profitability.
Prior to leading MBS, Todd spent 13 years as a Marketing Manager, I.T. Manager and Internet Strategist with Hewlett Packard, Andersen Consulting, and others. While at HP, Todd developed and implemented one of HP’s first retail e-commerce sites. As an I.T. Manager, he was responsible for delivering development, support, and infrastructure services for businesses located in the United States, Europe, Mexico, and Singapore.
Todd is a graduate of Colorado State University with a B.S. in Computer Information Systems and holds an MBA in International Business from The University of Denver. He currently serves on the Board of Directors of the Northern Colorado Sports Commission.
Todd currently holds the Series 7 and 66.

David M. Nadeau, Managing Director

Dave has 23 years of business, financial and technical management experience in a wide range of Fortune 500 companies. His educational background includes a Bachelor’s degree in Electrical Engineering, cum laude, from Rensselaer Polytechnic Institute and an MBA with emphasis in Finance and Accounting from the Robert O. Anderson Graduate School of Management at the University of New Mexico where he graduated at the top of his class.
While completing his MBA, Dave worked on various projects for independent venture capital funds as part of his graduate assistant work in entrepreneurship, which in turn translated to a good deal of work over his professional years in early-stage companies and capital formation. He has developed two of his own companies and has advised or managed a number of other ventures.
Early in his career, Dave has worked on engineering design teams for the US Air Force’s Weapons Laboratory, Lockheed Engineering and Sciences Corporation, and under a contract with Los Alamos National Laboratory. After completing his MBA, Dave worked for Intel Corporation then Motorola to become the Business Manager for a $400MM wafer fab. Later, a move to Colorado put Dave with Hewlett-Packard Company where he managed worldwide financials for a number of their consumer product segments. For the last five years, he has worked as a Vice President in commercial banking, developing business and structuring and managing debt financing.
As part of being involved in and giving back to the community we call home, Dave serves on two non-profit Boards of Directors in our local area. He is the Secretary for the Fort Collins Habitat for Humanity and the Treasurer for the OpenStage Theatre and Company. Both organizations are very active and successful in the broader communities that they serve.
Dave currently holds the Series 7 and 66.

David K. Smith, Financial and Accounting Relations Director

David joins Citadel as liaison with our client’s accounting and taxation advisors in the areas of valuation and transaction structure. Mr. Smith brings over 20 years of business experience crossing a wide range of accounting and financial activities. His career began as a Certified Public Accountant with the international accounting firm of Peat, Marwick, Mitchell and Co. (now KPMG) where he specialized in auditing various manufacturing concerns. In addition, Mr. Smith provided business consulting services and corporate income tax preparation. His most recent position was that of Vice President and Corporate Controller for Advanced Energy Industries, Inc., a high-technology manufacturer of instruments used in thin film plasma-based processes. Mr. Smith’s duties included responsibility for accounting systems, cash management, risk management, taxation and government compliance. Mr. Smith played a significant role in the formation of foreign subsidiaries in Japan, Germany, England, Korea, Taiwan, and China. He was also involved in the acquisition of domestic subsidiaries in Colorado, New Jersey, California, Minnesota and Washington. During his 13 year career at Advanced Energy, Mr. Smith was a key participant in the company’s initial public offering, two secondary offerings and three major business enterprise software implementations. Mr. Smith graduated with honors from Colorado State University with a BS degree in Business Administration.

Rick Snow, Legal Relations Director

Mr. Snow currently serves as Executive-in-Residence at Colorado State University’s School of Business. He brings to Citadel 33 years of experience as a corporate legal executive in the high technology industry.
For more than 14 years Rick served as Vice President, General Counsel and Secretary of J.D. Edwards & Company. Mr. Snow joined J.D. Edwards in 1990 where he started and ultimately grew the legal department to a team of 45 associates, was responsible for the contract administration function, property, casualty and liability insurance acquisition, and served as Secretary to the Board of Directors. After negotiating the acquisition of J.D. Edwards with PeopleSoft and assisting with the merger of the two companies, Mr. Snow retired. Prior to joining J.D. Edwards, Mr. Snow served in various high ranking counsel positions with Hathaway Corporation, Global-Ultimaac Systems, Storage Technology Corporation, Tymshare and Memorex.
The Colorado Mountain College system awarded its first Colorado Circle of Excellence Award in 2002 to Mr. Snow as Colorado High Technology Executive of the Year. Since ‘retiring’, Rick has been a member of Colorado State University’s College of Business Global Leadership Council, Chairman of the Student Mentoring Committee, College of Business Executive-in-Residence and taught Corporate Law and Ethics in the MBA program. In spring 2006 he spoke in the Great Entrepreneur Speaker Series program sponsored by the CSU Center for Entrepreneurship.
Mr. Snow received a Juris Doctorate degree from California Western University in 1970 and a Bachelor of Science degree in Business Administration from the University of California, Berkeley in 1967.

Claudia Davis, Associate

Claudia brings a strong background in client relations and brand marketing to the Citadel team. Having experience as an Account Executive with a San Francisco advertising agency early in her career, she excelled in handling client needs with the utmost care and attention to detail. In South Florida, Claudia spent over 10 years defining product for and marketing the Delta Air Lines leisure vacation brand while working with one of the nation’s largest travel wholesalers, Certified Vacations. Her most recent experience there as Director of Marketing Communications for the Delta Air Lines brand gained her valuable insight into brand marketing, contract negotiations and product development.
A native of Northwest Indiana and recent transplant from South Florida, Claudia is happy to find her ‘ideal hometown’ in Fort Collins. She enjoys time spent with her family, laughter of friends, and the outdoors. Claudia holds a Bachelor of Science degree from Indiana University, Bloomington, with a major in Marketing and a Business Minor.