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Business Valuation Insights
Reconciling Value in Business Valuation: Beyond Implied Multiples
March 16, 2026 / in Business Strategy, Business Valuation / by Victor Vazquez
Executive Summary Most private-company acquisitions are structured on a cash-free, debt-free (CFDF) basis. Owners hear this all the time — but many don’t fully appreciate how much it shapes their actual proceeds. In simple terms, the buyer purchases the operating business, not your cash or your debt. You keep your cash, and you pay off your debt at closing — similar to paying off a mortgage when selling a house. That sounds straightforward and the …
What “Cash-Free, Debt-Free” Really Means When You Sell Your Business
February 16, 2026 / in Business Strategy, Business Valuation / by Al Statz
Most private-company acquisitions are structured on a cash-free, debt-free (CFDF) basis. Owners hear this all the time — but many don’t fully appreciate how much it shapes their actual proceeds. In simple terms, the buyer purchases the operating business, not your cash or your debt. You keep your cash, and you pay off your debt at closing — similar to paying off a mortgage when selling a house. That sounds straightforward and the letter of …
Lessons Learned After Connelly Reflections from the October 2025 BVResources Webinar
November 17, 2025 / in Business Valuation, Buy-Sell Agreements / by Joe Orlando
In January 2025, our firm published a blog on the impact of the Connelly v. United States case and how the court’s ruling has influenced business valuations. In October 2025, I had the opportunity to present at a Business Valuation Resources (BVR) webinar titled “Lessons Learned After Connelly: Valuation, Insurance, and Planning in Practice.” The session brought together valuation analysts, estate planners, attorneys, and advisors to examine how the Supreme Court’s 2024 decision in this …
Using Financial Benchmarking to Maximize Business Performance and Value
November 17, 2025 / in Business Strategy, Business Valuation / by Al Statz
If you want to run a stronger business and ultimately sell it for a premium, you need to know how your company stacks up against peers. That’s where financial benchmarking comes in—one of the most overlooked, yet most powerful, tools for value creation. At Exit Strategies Group, we rely on benchmarking in our valuations and exit assessments because the message across thousands of real-world M&A transactions is clear: businesses with above-average performance and growth earn …
THE IMPORTANCE OF BUY-SELL AGREEMENTS IN BUSINESS CONTINUITY
February 17, 2025 / in Business Valuation, Buy-Sell Agreements / by Joe Orlando
For business owners, a well-structured buy-sell agreement is essential for ensuring a seamless transition of ownership in the event of death, disability, or retirement. These agreements define who has the right to purchase ownership interests and at what price, mitigating potential disputes among partners, heirs, and buyers. Valuation: A Critical Component A properly structured buy-sell agreement includes a clear valuation method to determine the fair market value of a departing owner’s shares. Common valuation approaches …
A Definitive Approach to Life Insurance and Share Redemption in the Valuation of Family-Owned Businesses
January 20, 2025 / in Business Valuation, News / by Pete Wilson
In June 2024, the US Supreme Court, in a unanimous decision, ruled that proceeds from a corporate (or key person) life insurance should be added to the value of a business. Simple, right? So why is the decision in Connelly v. United States sending shockwaves through the valuation and estate planning exercises that go into an estate valuation? Let’s dive into the case and talk through its impact. Facts: The case involved two brothers, Michael …
Give Yourself the Gift of a Valuation This Holiday Season?
December 14, 2024 / in Business Strategy, Business Valuation / by Al Statz
As the year winds down, there’s a gift every business owner should consider—a current valuation of your business. Knowing the true value of your business is a gift that keeps on giving. Here’s why. Estate Planning One of the key benefits of a valuation is that it sets the groundwork for smart estate planning. If the unforeseen happens, knowing your business’s worth simplifies the inheritance process for your heirs and ensures they receive what you …
Goodwill hunting: How to build and finance this intangible asset
December 2, 2024 / in Business Strategy, Business Valuation, Sell a Business / by Al Statz
When it comes to selling a business, the term “goodwill” often arises. But what exactly is goodwill, and how does it impact the mergers and acquisitions (M&A) process? Goodwill is the value of a business that exceeds its tangible assets. It arises when a company is sold for more than the worth of its physical assets such as equipment, vehicles and inventory. Most successful companies have some level of goodwill, which is tied to cash …
From the M&A Glossary: Add-backs
November 20, 2024 / in Business Valuation, Exit Planning / by Al Statz
Add-backs are adjustments made to a company’s financial statements to more accurately reflect its true earning potential and “normalize” its financial performance. These adjustments are typically made to the target company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) to create a metric known as “Adjusted” or “Normalized” EBITDA. Add-backs to EBITDA are expenses or income items that are considered definitional, discretionary, non-recurring, one-time, or not essential to the company’s core operations. Common examples of …
What Does ChatGPT Think?
October 14, 2024 / in Business Strategy, Business Valuation / by Joe Orlando
This October, I will celebrate my 12th year as an Accredited Senior Appraiser (ASA) in Business Valuation with the American Society of Appraisers (also ASA). ASA members meet every year for an International Conference to discuss current topics and to share knowledge and best practices. I attended the most recent Conference in Portland, OR. A presentation entitled “The AI Revolution – Why it Matters to Appraisers & Application Strategies” by Greg Endicott of Strategic Value Group, …
Exit Strategies Group, Inc. is a leading provider of business sales and acquisitions, business valuations, and exit planning services for family owned and closely-held companies since 2002.
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