2022 Business Valuations Year in Review
Written by: Megan Ramey, CPA and Chandler Simich, CPA
Last month we reflected back on the many Financial Forensic assignments we worked on in 2022. This month, we highlight our Business Valuation Services and all of our accomplishments during 2022.
Cogence Group has over 30 years of experience performing business valuations for our closely held business clients. We work in many types of industries and provide valuation services for varying purposes to best fit our clients’ needs. Whether it be valuing for estate and gift tax return filing, succession planning, or one of many other purposes, our team at Cogence Group has the integrity, experience, passion, and credibility to provide professional, reliable, and understandable business valuations.
The following is our Business Valuation recap for 2022
2022 BY THE NUMBERS
The team members here at Cogence Group were engaged in 42 Business Valuation matters during 2022.
2022 PROJECT BREAKDOWN
Business Valuation matters comprised 30% of our total 2022 services.
We provided Business Valuation Services for the following purposes: Estate and Gift Tax, Internal Planning, Valuations in Litigation, Marital Dissolution, Purchase or Sale of a Business, and Succession Planning.
We performed 19 full Valuations (45%), 8 Calculations (19%), and 15 consulting engagements (36%).
One of our projects involved testifying to the fair market value of an ownership interest in a real estate property management business for the purpose of marital property division.
For four of our valuations, we were jointly engaged by both parties’ attorneys as a neutral appraiser.
The matters we worked on spanned the following 17 industries:
Agriculture (5%)
Cannabis (7%)
Commercial & Residential Real Estate (30%)
Consulting Services (2%)
Contractors and Specialty Subcontractors (15%)
Financial Services (5%)
Food & Beverage (10%)
Landscape Architecture (2%)
Logistics (2%)
Manufacturing & Distribution (5%)
Marketing Services (2%)
Medical (2%)
Power & Utilities (2%)
Refrigeration (2%)
Retail (5%)
Sanitation (2%)
Software Development (2%)
We were involved in a 2+ year-long case to determine the fair value of an established Oregon cannabis business with a grow operation and four retail locations. We prepared four valuation reports leading up to mediation, which aided in reaching a settlement.
