Frequently asked questions

Most privately held Wisconsin businesses are valued off seller's discretionary earnings (SDE) or EBITDA, adjusted for owner compensation and one-time expenses, then multiplied by a range that reflects the industry, size, customer concentration, and how dependent the business is on the owner.

The starting point is your last three years of tax returns and financial statements. We walk through the recast together and give you a defensible range before you commit to anything.

A well-prepared main street business commonly takes six to nine months from listing to closing, and lower middle market deals often run nine to twelve months. Preparation adds time up front but usually shortens the rest of the process and protects value.

Listings are marketed as blind profiles with no business name, address, or identifying detail. Buyers are screened and sign a confidentiality agreement before receiving specifics, and we control the pace at which employees, customers, and vendors learn anything.

Three years of tax returns and financial statements, a current year-to-date P&L and balance sheet, an equipment list, your lease, and a summary of customer and revenue concentration. Clean, consistent books are the single biggest driver of buyer confidence.

Usually for a short transition — often 30 to 90 days — so relationships and processes transfer cleanly. Longer consulting arrangements or partial rollovers are negotiable and sometimes increase the price a buyer will pay.

For an SBA-backed acquisition, buyers typically bring 10 to 20 percent of the purchase price, plus working capital and closing costs. Seller financing or an earnout can bridge part of the gap when both sides are aligned on the transition.

Public listing pages show industry, region, and summary financials. After you sign a confidentiality agreement and share a brief background and proof of funds, you receive the full confidential information memorandum and can schedule a seller call.

On a sell-side engagement the seller pays the success fee at closing. Buyers do not pay a fee to view listings or work through the process on a listed business.

The first valuation conversation is free and carries no obligation. If we move forward, fees are laid out in a written engagement agreement before any work begins, and the bulk is earned only at closing.

We are based in Madison, WI and work with owners and buyers across Dane County and southern Wisconsin, including Janesville, Beloit, Baraboo, Watertown, and the surrounding communities.

Manufacturing, trades and home services, distribution, professional services, and established retail and hospitality — generally owner-operated companies with real cash flow and a transferable customer base.

Justin Woodworth handles the engagement personally from valuation through closing. You are not handed off to a junior associate partway through.