California HVAC business owners: Get expert insights on valuing your company. Discover top methods (SDE, multiples) & prepare your business for a successful sale.
Knowing the true worth of your HVAC business is more than just a number on a balance sheet. Knowing the true worth of your HVAC business is a critical insight, especially in the dynamic California market.
This guide will equip you with the knowledge to understand your HVAC business’s market value and prepare it for a successful transaction in California.
Whether you’re considering a sale, planning for succession, seeking financing, or simply aiming to understand your company’s performance drivers for strategic growth, a clear and accurate business valuation is indispensable.
Over nearly two decades of M&A experience in California, I’ve seen firsthand how crucial this understanding is for HVAC business owners navigating this competitive landscape.
Valuing an industrial service-based business, such as an HVAC company, presents unique considerations compared to valuing companies rich in physical assets.
The actual value often lies less in the trucks and tools (though they are certainly part of the picture) and more in the intangible assets:
- Technicians with the right skills.
- Loyal customer base,
- Recurring revenue from service contracts, and
- Operational efficiency.
Valuing a business using a one-size-fits-all approach is simply ineffective.
How can I help you?
Choosing the best valuation method requires a thorough understanding of the various approaches and their relevance to the specific nuances of the HVAC industry, particularly within California’s distinct economic and regulatory environment.
My goal is to help HVAC business owners across the Golden State gain clarity on how to assess their business value effectively.
Understanding the different valuation methodologies and the factors that truly drive value will help you make more informed decisions about your business’s future.
Let’s explore how to uncover the real worth of your HVAC company.
Quick Action Checklist for HVAC Business Valuation
Here are the key steps to take to prepare your HVAC business for valuation and maximize its value:
- Organize and Clean Up Financial Statements: Ensure accuracy, consistency, and organization, ideally reviewed or audited by a CPA.
- Calculate and Document SDE Accurately: Work with your accountant to normalize earnings and justify add-backs.
- Strengthen Your Recurring Revenue Base: Increase revenue from service and maintenance contracts for predictable income.
- Reduce Reliance on the Owner: Build a strong management team and empower employees to handle day-to-day tasks.
- Obtain a Professional Business Valuation: Receive an objective assessment of your current market value and identify areas for improvement.
Why Valuing Your HVAC Business is Essential (Beyond Just Selling)
While determining a fair asking price is a primary driver for many owners considering an exit, understanding the value of your HVAC business serves a multitude of critical purposes throughout its lifecycle.
During my years assisting California business owners, I’ve seen how a current, accurate valuation serves as a foundational tool for strategic and operational initiatives. It’s not just about the finish line; it’s about optimizing the journey.
Here are some key reasons why valuing your HVAC business is essential, even if a sale isn’t imminent.
Sale or Acquisition
A professional valuation provides an objective and defensible basis for determining a fair asking price when selling an HVAC business. Equally, if you are a buyer, it allows you to make an informed offer when acquiring another HVAC business. Without it, you’re negotiating in the dark, potentially leaving money on the table or overpaying for goods or services.
Financing
Whether you’re seeking a loan to expand operations, upgrade equipment, or navigate economic shifts, lenders will require a clear understanding of your business’s value. A firm valuation can help you secure favorable terms and demonstrate your company’s financial health and prospects to potential investors.
Succession Planning
Suppose you plan to transition your business to family members. In that case, key employees (perhaps through an ESOP (Employee Stock Ownership Plan) or a management team require a formal valuation to establish equitable terms for the transfer of ownership. It ensures a smooth transition and can help prevent future disputes.
The “National State of Owner Readiness Report” highlights that younger owners, particularly Millennials and Gen X, show a greater inclination towards internal exit options like family transitions (46% favor family transition) or employee buy-outs (19% favor sale to employees), underscoring the growing importance of valuation in these scenarios.
Strategic Planning
A detailed valuation process helps identify the key drivers of your business’s value. By understanding what makes your company more or less valuable, you can focus your strategic efforts on the areas that matter most to your business.
This could involve improving profitability, strengthening your customer base, or streamlining operations to enhance overall efficiency and effectiveness. It provides a roadmap for increasing the long-term value of your investment.
Partnership Buy-Ins/Buy-Outs
When bringing in a new partner or when an existing partner wishes to exit, a valuation is necessary to determine the fair value of the ownership stake being bought or sold. This ensures fairness and transparency among partners.
Estate or Gift Planning
For personal financial planning, especially for tax purposes related to estate or gift taxes, a formal business valuation is often required to determine the value of your business assets. The “20 National State of Owner Readiness Report” indicates that estate planning is an area where business owners often have less formal planning. Yet, valuations are frequently conducted for these very purposes.
In essence, a business valuation provides clarity and a solid foundation for critical decisions throughout your HVAC company’s life. It’s an investment in understanding your business’s true potential and securing its future.
Understanding the Core Business Valuation Approaches
When determining the value of a business, professional valuators typically rely on three widely accepted approaches. Consider these as different lenses through which to evaluate a company’s worth. While the calculations within each can get quite detailed, the core concepts are straightforward.
Here are the three main business valuation approaches:
Asset Approach
The Asset Approach focuses on the value of the business’s tangible and intangible assets, subtracting its liabilities. It essentially asks: “What is the business worth if we add up the fair market value of everything it owns and subtract everything it owes?” This can be useful for businesses with significant physical assets or in situations such as liquidation. Still, it often fails to fully capture the value of a going concern, especially one that is service-based.
Market Approach
The Market Method estimates value by comparing the business to similar businesses that have recently sold in the market. It’s based on the principle that the value of an asset can be determined by looking at what comparable assets have fetched in recent transactions. This approach relies heavily on finding truly comparable sales data and applying relevant valuation multiples.
Income Approach
The Income Approach focuses on the business’s ability to generate future economic benefits, typically in the form of income or cash flow. It asks: “What is the present value of the future income streams this business is expected to generate?” This is often considered highly relevant as buyers are ultimately purchasing the right to receive those future earnings.
For most service-based businesses in the construction industry, such as those in the HVAC sector, the Income Approach and the Market Approach are typically more relevant and frequently utilized than the Asset Approach.
This is because the primary value of an HVAC company often lies in its ongoing ability to generate cash flow from its customer base and operations, rather than just the book value of its assets.
While assets are necessary to run the business, they are a means to an end (generating income) rather than the primary driver of value in the eyes of a buyer focused on future returns.
Most Relevant Valuation Methods for HVAC Businesses
Given that the value of an HVAC business is primarily tied to its earnings potential and market comparisons, the Income and Market Approaches are the most pertinent valuation methodologies.
Within these approaches, specific methods are commonly applied to the HVAC industry, providing actionable insights into a company’s worth.
Income Approach Methods
The Income Approach values a business based on its capacity to generate future financial returns.
For HVAC businesses, valuing predictable cash flow from service contracts and installation projects is essential.
Capitalization of Earnings/Cash Flow estimates value by dividing a business’s historic or projected earnings by a capitalization rate, which reflects the minimum required return for investors.
Seller’s Discretionary Earnings (SDE) is a key metric for small to mid-sized firms, representing the total economic benefit to a single owner. It starts with pre-tax net income and adds back discretionary expenses, providing a clear picture of available cash flow.
EBITDA is often more suitable for larger HVAC firms, as it captures operating performance before accounting for financing and tax impacts.
The capitalization rate is pivotal and inversely related to valuation multiples, assessed based on business risk and earnings stability.
Discounted Cash Flow (DCF) projects a business’s future cash flows over 5-10 years, discounting them to present value using a rate that reflects the time value of money and risk. This method is particularly suited for businesses with anticipated changes in growth or market dynamics.
Market Approach Methods
The Market Approach provides a valuation based on what buyers are willing to pay for similar businesses in the current market.
- Comparable Company Analysis / Market Multiples: This method involves analyzing the selling prices of similar HVAC businesses that have recently been sold to derive valuation multiples. These Market Multiples are then applied to the subject business’s financial metrics to estimate its value.
- Common Multiples: In the HVAC industry, common multiples include:
- Multiples of SDE: This approach is frequently used for smaller to mid-sized businesses, where a multiple is directly applied to the calculated SDE. The “Sample Business Valuation To Sell A Business.pdf” document indicates that SDE multiples serve as a standard benchmark for valuing businesses.
- Multiples of Revenue: While less indicative of profitability, revenue multiples can be used, particularly for businesses with strong top-line growth or in conjunction with other methods. The “Sample Business Valuation To Sell A Business.pdf” includes Price/Revenue multiples in its market analysis.
- Multiples of EBITDA: More common for larger transactions, applying a multiple to EBITDA. The “Market Pulse-highlights” provides median EBITDA multiples for larger, lower-middle-market businesses.
- Finding Comparable Data: The key to this method is finding truly comparable sales data. Ideally, this data should be from HVAC businesses of similar size, operating in similar geographic markets (California data is particularly valuable here due to the unique regulatory and economic environment), and with comparable service mixes. Databases such as BizComps and Pratt’s Stats, as referenced in the “Sample Business Valuation To Sell A Business” document, are familiar sources for this type of information.
- Application: The multiple is applied to the corresponding financial metric of your business:
- Value=Financial Metric (SDE, Revenue, or EBITDA)×Market Multiple
Asset Approach (Briefly)
The Asset Approach, while one of the three core methods, is typically less impactful for valuing a thriving HVAC service business.
Its primary focus is on the fair market value of assets minus liabilities. For an HVAC company, unless it owns significant real estate or a large, specialized fleet of vehicles that represent a substantial portion of the value, this method often provides a “floor” value rather than a comprehensive picture of the business’s worth as a going concern.
It doesn’t adequately capture the value of intangible assets, such as goodwill, established customer relationships, recurring revenue streams, or a trained workforce, which are often the proper drivers of value in this industry.
Understanding these methods is the first step.
The next step is to see why certain ones are favored for HVAC businesses.
Why are specific Valuation Methods better for HVAC Businesses
From my perspective, having worked on numerous M&A transactions in the California HVAC sector, the preference for the Income and Market Approaches is clear. The fundamental value of an HVAC business isn’t primarily in the depreciated book value of its equipment.
While these assets are necessary for operations, the actual value lies in the business’s ability to generate consistent cash flow.
Asset Approach
While providing a baseline, it often fails to capture the most significant value drivers for a service-based business, such as HVAC.
Buyers of these companies are typically seeking a return on their investment through future earnings, rather than just the opportunity to acquire a collection of assets.
The goodwill, service contract value, reputation, and skilled workforce—these intangible elements are crucial to future profitability.
Still, they are not adequately reflected in an asset-based valuation alone. As the “Sample Business Valuation To Sell A Business” illustrates, goodwill can represent a significant portion of the total selling price, far exceeding the value of tangible assets.
Income Approach
In particular, the Capitalization of SDE method is highly relevant for many small- to mid-sized HVAC businesses in California.
SDE is a favored metric because it provides a clear picture of the total economic benefit flowing to an owner-operator. This is especially important in smaller firms where the owner’s involvement significantly impacts profitability.
By normalizing earnings to reflect the actual cash flow available to a potential buyer, SDE provides a realistic basis for valuation.
Buyers are keenly interested in the return they can expect on their investment, and the Income Approach directly addresses this by focusing on future earning capacity.
Market Approach
Utilizing multiples of Seller’s Discretionary Earnings (SDE) or Revenue is crucial, as it provides insights into what buyers are willing to pay based on recent HVAC company sales. California-specific data is invaluable due to the unique market conditions and regulatory environments that can influence valuations.
The “Market Pulse” highlights how multiples, such as Price/SDE and Price/EBITDA, serve as benchmarks in business brokerage. While finding identical comparables is challenging, valuators can adjust for size, location, and service mix. Recurring revenue from service contracts significantly enhances an HVAC business’s value, offering predictable cash flow and reducing buyer risk.
Both the Income and Market Approaches effectively reflect this value. Stable recurring revenue leads to more predictable earnings and lower capitalization rates in the Income Approach. At the same time, the Market Approach indicates that businesses with high recurring revenue tend to command higher valuation multiples.
In summary, while the Asset Approach provides a foundational view, the Income and Market Approaches are most effective for valuing California HVAC businesses, focusing on cash flow, owner benefit, and market comparisons. These methods highlight the potential for future earnings and growth opportunities.
Key Factors Influencing Your HVAC Business Valuation (Especially in California)
Beyond the specific valuation methodologies, several key factors consistently influence the value of an HVAC business.
Buyers scrutinize these areas to assess the company’s risk and future performance. Paying close attention to these elements is crucial for any California HVAC owner looking to understand and potentially enhance their business’s worth.
Financial Performance
This is fundamental. Buyers will conduct thorough due diligence on your financial history. Consistent profitability, demonstrated revenue growth, and strong Seller’s Discretionary Earnings (SDE) or EBITDA are paramount.
Clean, accurate, and well-organized financial records are crucial for building buyer confidence and supporting the asking price. As highlighted in “Exit-Preparation-Insights-From-Axial-Investment-Bankers,” the cleanliness and integrity of financials are among the “Big Eight Avoidable Mistakes That Derail Deals.”
Customer Base Quality
The nature and stability of your customer base significantly impact the value you deliver.
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- Recurring Revenue: A high percentage of revenue derived from recurring service and maintenance contracts is a significant value driver. This indicates predictable future income and customer loyalty.
- Customer Retention Rates: High retention rates signal customer satisfaction and a stable revenue stream.
- Diversification: Avoiding over-reliance on a few large clients reduces risk. A diversified customer base across residential, commercial, and industrial sectors can be attractive.
- Geographic Concentration: In California, understanding your customers’ geographic concentration is crucial, as local economic conditions and regulatory enforcement can vary significantly.
Service Mix
The types of services you offer significantly influence the value you provide. Recurring maintenance and service revenue are generally valued more highly than one-off installation projects due to their predictability.
Specializations, such as commercial HVAC, specific types of equipment (e.g., Goko or VRF systems), or energy-efficiency upgrades, can also command a premium when market demand is high.
Operations and Management
Efficient and well-managed operations reduce risk and indicate scalability.
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- Efficiency: Streamlined dispatching, scheduling, and project management contribute to profitability.
- Skilled Workforce: The quality and retention of skilled, certified technicians are critical. A strong team reduces the dependency on a key person, such as the owner.
- Systems and Processes: Established, documented systems and processes make the business easier to transition and operate under new ownership. As the “Urgent Exit Plan.pdf” notes, creating Standard Operating Procedures (SOPs) makes a business more repeatable and attractive.
Market Conditions in California
The local and regional market environment in California plays a significant role.
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- Economic Growth: The health of the local economy, including housing starts and commercial development, directly affects demand for HVAC services.
- Regulatory Environment: California’s stringent energy-efficiency standards (such as Title 24) and evolving environmental codes create both challenges and opportunities for HVAC businesses. Expertise in compliance and energy-efficient solutions can be a value enhancer.
- Competitive Landscape: The level of competition in your specific California service area will influence pricing and market share.
- Climate: California’s diverse climate results in significant variations in heating and cooling demand across regions, affecting revenue seasonality and overall demand.
Reputation and Brand
A strong reputation and established brand are valuable intangible assets. Positive online reviews, local recognition, and a proven track record of delivering high-quality service can help build customer trust and justify higher pricing. As “How to make your business more attractive to buyers” points out, improving your brand’s online presence and image is key to attracting buyers.
Technology and Equipment
Investing in up-to-date technology (like CRM and service management software) and maintaining a modern, well-maintained fleet and specialized equipment can improve efficiency and appeal to buyers.
Transferability
The ease with which the business can transition to a new owner is a critical factor. This includes the transferability of licenses, permits, key customer contracts, and employee relationships. Reducing the owner’s day-to-day involvement makes the business more transferable and less dependent on a single individual. The “Urgent Exit Plan” emphasizes reducing owner dependency as a key driver of valuation.
Understanding these factors and actively working to strengthen them can significantly enhance the value of your California HVAC business in the eyes of potential buyers and for your strategic planning.
How to Prepare Your HVAC Business for Valuation (and Maximize Value)
Preparing your HVAC business for a professional valuation and maximizing its value are not last-minute tasks; they are strategic imperatives that ideally begin long before you decide to sell.
Think of it as moving from the “Red Zone” (urgent, reactive) to the “Green Zone” (proactive, planned), as described in “Preparing for Major Business Transition in Middle-Market Companies”. Businesses that prioritize this preparation are far more likely to achieve their desired outcomes.
Based on my experience, focusing on these key areas can significantly enhance the attractiveness of your California HVAC business to buyers and command a higher valuation.
Here are the critical steps to take:
Organize and Clean Up Financial Statements
This is non-negotiable. Buyers and lenders need to trust your numbers. Ensure your financial records are accurate, consistent, and well-organized. Ideally, have them reviewed or audited by a CPA. This process helps identify discrepancies and provides a clear, verifiable picture of your financial health.
As “Successfully Sell Your Business” and “Exit-Preparation-Insights-From-Axial-Investment-Bankers” stress, clean financials are fundamental, and a lack thereof is a significant deal killer.
Calculate and Document SDE Accurately
For many HVAC businesses, SDE is the most relevant earnings metric. Work with your accountant to accurately calculate the SDE, ensuring that all add-backs are justified and properly documented. This normalized earnings figure is what buyers will focus on to understand the actual cash flow an owner-operator receives.
Strengthen Your Recurring Revenue Base
Buyers place a premium on predictable income. Actively work to increase the percentage of revenue from recurring service and maintenance contracts. Promote the benefits of service agreements to your existing customer base.
Improve Customer Retention
High customer retention rates are a clear indicator of customer satisfaction and the quality of your service. Implement strategies to enhance customer retention, including improved customer service, loyalty programs, and proactive communication.
Implement or Refine Operational Systems and Processes
Documented, efficient systems make your business easier to run and transition.
Develop Standard Operating Procedures (SOPs) for key operational areas, including dispatching and scheduling, service calls, and billing. This reduces reliance on the owner’s implicit knowledge, making the business more scalable and transferable. “Urgent Exit Plan” emphasizes that SOPs make a business more repeatable and attractive.
Reduce Reliance on the Owner
A business that is heavily dependent on the owner for day-to-day operations is less attractive and riskier for a buyer.
Build a strong and capable management team that empowers employees to handle daily tasks effectively. Your role should ideally shift towards oversight and strategic direction.
This is a significant factor in enhancing transferability and value. The “Urgent Exit Plan” and “Guiding_Sellers_Through_Their_Exit” both highlight reducing owner dependency as a key preparation for exit.
Ensure All Licenses, Permits, and Certifications Are Current
Especially in California’s regulated environment, ensure that all necessary state and local licenses, permits, and certifications (such as CSLB licenses and EPA certifications) are current and in good standing. Any lapses can create significant hurdles during the due diligence process. The “BusinessTransitionChecklist” provides a comprehensive list of documents to review.
Address Any Customer Concentration Issues
Diversify your customer base to reduce reliance on a few large clients. This mitigates risk in the eyes of a buyer.
Gather All Relevant Documentation
Organize all critical business documents, including financial statements, tax returns, legal agreements (customer contracts, supplier agreements, leases), employee records, and operational manuals. Having this readily available streamlines the due diligence process and demonstrates transparency and organization.
The “BusinessTransitionChecklist” is an excellent resource for identifying necessary documents.
Get a Professional Business Valuation
Before you even think about listing your business for sale, get a professional valuation.
This provides an objective assessment of your business’s current market value, helps you understand how buyers will view your company, and identifies areas for improvement to increase value.
It also helps set realistic expectations for the selling price. The “Urgent Exit Plan” strongly advises getting a valuation before planning to sell.
Proactive preparation in these areas not only enhances the value of your HVAC business but also significantly increases its attractiveness and the likelihood of a successful and seamless transaction in the competitive California market.
Choosing the Best Method for Your Specific HVAC Business
Determining the single “best” valuation method for your HVAC business in California isn’t about finding a magic formula; it’s about selecting the approach or combination of approaches that most accurately reflects the unique characteristics, size, complexity, and financial history of your specific company.
For the vast majority of small to mid-sized HVAC businesses in California, particularly those where the owner is actively involved in the operations and profitability, the Income Approach (specifically using Seller’s Discretionary Earnings and Capitalization) and the Market Approach (utilizing SDE or Revenue multiples) are typically the most relevant and widely accepted methodologies.
The Income Approach
By capitalizing SDE, it directly addresses what is often the primary motivation for a buyer of a smaller HVAC firm: the total economic benefit they can expect as the owner-operator. This method is particularly effective for businesses with a history of stable earnings and predictable cash flow, especially those with a strong base of recurring service revenue.
The Market Approach
It provides crucial context by grounding the valuation in real-world transactions. By analyzing recent sales of comparable HVAC businesses, ideally within California, this method offers empirical evidence of what the market is willing to pay for similar companies. The use of SDE or Revenue multiples in this approach aligns with the key financial metrics that buyers in this industry focus on.
The Asset Approach
Although it is less frequently the primary driver of value for a healthy, going-concern HVAC business, it can still serve a purpose. It often provides a baseline or “floor” value, particularly if the business has significant tangible assets, such as a large, well-maintained fleet or valuable owned real estate. However, it rarely captures the full value of the intangible assets that are so critical in the HVAC service industry.
It’s essential to recognize that professional business valuators rarely rely on a single method. Instead, they typically employ multiple valuation approaches and then reconcile the results to arrive at a final value conclusion.
For instance, a valuation report might present values derived from both the Capitalization of SDE and a Market Multiple analysis, and then weigh these indications based on the perceived strengths and weaknesses of each method’s application to the subject business.
As shown in the “Sample Business Valuation To Sell A Business,” professional valuations often include multiple methods (such as the Market, Multiple of Discretionary Earnings, and a Buyer’s Test) and reconcile them to arrive at a conclusion.
Ultimately, choosing the best method—or a combination of methods—and applying it correctly requires expertise.
This underscores the critical importance of working with a qualified business valuation professional who has a deep understanding of the HVAC industry, familiarity with the nuances of the California market, and experience valuing businesses of your size and type.
They can help you navigate the complexities, select the most appropriate methodologies, and provide a credible and defensible valuation that withstands scrutiny, whether for a sale, financing, or strategic planning.
Andrew Rogerson’s Final Take
Understanding the actual value of your HVAC business is a cornerstone of effective ownership, particularly in the competitive California market. As we’ve explored, valuation isn’t just about preparing for a sale; it’s a vital tool for strategic planning, securing financing, and ensuring a smooth transition of ownership, whether to family, employees, or a third party.
While various valuation methodologies exist, the Income Approach (especially using SDE) and the Market Approach (using SDE or Revenue multiples) are typically the most relevant for HVAC businesses.
These methods best capture the value inherent in your company’s cash flow generation, customer relationships, and operational efficiency – factors that truly drive worth in a service-based industry.
The Asset Approach, while providing a baseline, often falls short of reflecting the full value of a thriving HVAC business.
Maximizing your business’s value requires proactive preparation. This includes maintaining accurate and up-to-date financial records, building a strong base of recurring revenue, enhancing operational efficiency, reducing owner dependency, and ensuring compliance with all relevant legal and regulatory requirements.
These steps not only boost your valuation but also make your business significantly more attractive to potential buyers in California.
Ultimately, the “best” valuation method is often a combination of approaches, tailored to your specific business by a qualified professional.
Working with an experienced business valuator who understands the HVAC industry and the California market is crucial to obtaining an accurate, defensible valuation.
By understanding the factors that influence your business’s value and deliberately improving them, you position yourself to make informed decisions and unlock your HVAC company’s true potential.
Frequently Asked Questions (FAQs)
What are the best methods for valuing an HVAC business?
The most relevant methods are typically the Income Approach (using Seller’s Discretionary Earnings or EBITDA and a capitalization rate) and the Market Approach (using multiples of SDE, Revenue, or EBITDA derived from comparable business sales).
How does Seller’s Discretionary Earnings (SDE) impact HVAC business valuation?
SDE is a key metric for valuing small to mid-sized HVAC businesses. It represents the total economic benefit to an owner-operator.
What factors should you consider when valuing an HVAC business in California?
Key factors include the following:
- Financial performance (profitability, revenue growth),
- Customer base quality (recurring revenue, retention),
- Service mix,
- Operational efficiency,
- Management team strength,
- Market conditions (economic growth, regulatory environment, such as Title 24),
- Reputation,
- Technology, and
- Ease of transferring the business to a new owner.
How can I maximize the sale price of my HVAC business?
To maximize value, focus on cleaning up financials, increasing recurring revenue from service contracts, improving customer retention, implementing efficient systems and processes, reducing owner dependency, ensuring regulatory compliance, and obtaining a professional business valuation.
What are the common valuation multiples for HVAC companies?
Common multiples include Multiples of SDE, Multiples of Revenue, and Multiples of EBITDA, often derived from recent sales data of comparable HVAC businesses.
About the Author
Andrew Rogerson is a Lifetime Certified Business Intermediary (LCBI), Lifetime Certified Business Broker (LCBB), Certified Machinery and Equipment Appraiser (CMEA), and Certified Senior Business Analyst (CSBA).
With nearly two decades of M&A experience in the California market, Andrew specializes in helping clients buy and sell businesses. His broad range of services includes business valuations, transaction analysis, and consulting.
Andrew is the owner and managing director of Rogerson Business Services in Sacramento, CA. He is also the author of “Successfully Sell Your Business: Expert Advice from a Business Broker.”
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