LBG Sells Manufacturing Company for OVER Twice as much as Local Accountant Valuation
CHALLENGE: Local Manufacturer of Hydraulic Cylinders approached Lakes Business Group, Inc. to sell their business due to partnership dispute. The Owners had a third-party valuation completed by a very reputable and local accounting firm. They valued the business at $1.1M.
APPROACH: After Lakes Business Group, Inc. was able to understand the books and business, we decided the value of the company was $2.9M for several very significant “blue sky” factors regarding the business as well the unbelievable opportunity the business had to offer.
OUTCOME: The business sold for $2.7M. more than 2 times the value of what the accounting firm had placed on the business.