2023 Business Valuations Year in Review
Written by: Megan Ramey, CPA, ABV and Chandler Simich, CPA
As 2024 begins, we reflect back on the many Business Valuation assignments worked on and all of our accomplishments during 2023.
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 2023
2023 BY THE NUMBERS
The team members here at Cogence Group were engaged in 51 Business Valuation matters during 2023.
2023 PROJECT BREAKDOWN
Business Valuation matters comprised 22% of our total 2023 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 25 full Valuations (49%), 18 Calculations (35%), and 8 consulting engagements (16%).
One of our projects involved calculating the fair market value of a company’s ownership interests in 17 Limited Liability Companies. Our calculation report aided in internal planning, governance, and share price setting for various classes of shares.
For five of our valuations, we were jointly engaged by both parties’ attorneys as a neutral appraiser.
The matters we worked on spanned the following 18 industries:
Cannabis (4%)
Commercial & Residential Real Estate (18%)
Consulting Services (2%)
Contractors and Specialty Subcontractors (17%)
Education (2%)
Food & Beverage (6%)
Healthcare (2%)
Logistics (2%)
Manufacturing (8%)
Oil & Gas (4%)
Property Management (2%)
Repair & Maintenance (2%)
Retail (10%)
Sanitation (2%)
Technology (13%)
Trade Shows (2%)
Utilities (2%)
Winery (2%)
One of our projects involved being hired jointly as a neutral appraiser in a contentious shareholder buyout. All communications and information were transparent to all parties allowing us to arrive at a fair and unbiased value.
