{"id":1101,"date":"2018-01-15T09:00:53","date_gmt":"2018-01-15T14:00:53","guid":{"rendered":"http:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/?p=1101"},"modified":"2020-06-08T14:51:16","modified_gmt":"2020-06-08T18:51:16","slug":"valuation-for-management-and-shareholder-buyouts","status":"publish","type":"post","link":"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/valuation-for-management-and-shareholder-buyouts\/","title":{"rendered":"Why Do I Need a Valuation? Management and Shareholder Buyouts"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][alternating_content_container]\t<div class=\"alternating-content-item-wrapper bg-light\">\n\t\t\t\t\t\t\t\t\t<div class=\"alternating-content-item-image center-center\" style=\"background-image: url('https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2018\/01\/Why-do-I-buyouts-LG-800x533.png'); background-size: cover;\"><\/div>\n\t\t\t\t\t\t\t<div class=\"alternating-content-item-content-container\">\n\t\t\t<div class=\"alternating-content-item-inner\">\n\t\t\t\t\t\t\t\t\t<span class=\"alternating-content-item-decor\">\n\t\t\t\t\t\tBlog\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<h2 class=\"alternating-content-item-heading\">\n\t\t\t\t\t\tWhy Do I Need a Valuation? Management and Shareholder Buyouts\t\t\t\t\t<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"alternating-content-item-content\">\n\t\t\t\t\t\t<p>This blog discusses the intricacies of selling your business to your company\u2019s management or other shareholders that you should be aware of.<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n[\/alternating_content_container][basic_container container_size=&#8221;container container-narrow&#8221;][vc_column_text]If you\u2019re ready to sell your business, some of the most likely purchase candidates are the company\u2019s management and other shareholders. They know the market. They know the business. They likely have a passion for the business. Whether you are selling to management or other shareholders, there are a few intricacies you need to be aware of.<\/p>\n<h4>What is a fair selling price?<\/h4>\n<p>Determining the selling price for your business can be difficult. A deal lacks appeal if you charge too much. But charge too little and miss out on being compensated for your hard work. Figuring out a fair selling price can be difficult in any sale, but determining the price in a management or shareholder buyout has additional complications.<\/p>\n<p>The starting place for determining price is often an examination of the historical and projected financial statements to determine the company\u2019s value. The financial statements should portray a realistic representation of the past and future performance of the company. But if the financial statement preparers (i.e. management or other shareholders) are purchasing your business, then they have an incentive to under-report profits. With all else equal, a lower operating profit would result in a lower business value. To help protect you from management\u2019s potential bias to under-report, a Chartered Business Valuator can be engaged to examine the financial documentation and determine a fair selling price.<\/p>\n<p>In the case of a shareholder buyout, the shareholder agreement may already stipulate the method to determine value. The agreement may contain an agreed-upon formula for determining value, or it may stipulate that value is to be determined by a Chartered Business Valuator. Regardless of how shareholders agree to determine price, a Chartered Business Valuator can help ensure the end result is fair.<\/p>\n<h4>What terms may be in the shareholder agreement?<\/h4>\n<p>Shareholder agreements can often contain several clauses relevant to the sale of a business. In the process of selling your business, it\u2019s important that you review your shareholder agreement for any of the following clauses:<\/p>\n<h5>Shotgun Clauses (aka put-call clauses)<\/h5>\n<p>Ed and Jon are 50-50 shareholders in a sports equipment retail store. Ed is no longer interested in working with Jon, and offers to sell his shares to Jon for $50,000 per share. Jon can either buy all of Ed\u2019s shares at $50,000 each, or turn down the offer. According to the shotgun clause, if Jon turns down the offer, then Ed must buy all of Jon\u2019s shares at $50,000 each.<\/p>\n<h5>Right of First Refusal<\/h5>\n<p>Ryan and Rachel are shareholders in a guitar manufacturing company. Ryan has decided that he would like to retire and he is obtaining offers to purchase his shares from different buyers. Once the offers are all in, Ryan determines that the best offer was made by a large musical instrument manufacturer, with an offer of $250,000 for his shares. Before Ryan accepts this offer, Rachel has the right to buy Ryan\u2019s shares for $250,000. If she isn\u2019t interested, Ryan can accept the offer from the large manufacturer.<\/p>\n<h5>Right of First Offer<\/h5>\n<p>Similar to the right of first refusal, Ryan has decided that he wants to sell his shares for $250,000. Before he can solicit offers from third-parties, he must present Rachel with an opportunity to purchase his shares for $250,000. If she isn\u2019t interested, Ryan can then seek offers from other parties.<\/p>\n<h5>Drag-Along Provisions<\/h5>\n<p>Kelsey owns 90% of a beverage company and Jordan owns the remaining 10%. If Kelsey decides to sell her shares for $15,000 per share, then Jordan must also sell his shares for $15,000 per share.<\/p>\n<h5>Tag-Along Provisions (aka coattail provisions)<\/h5>\n<p>Similar to the drag-along provision, Kelsey has decided to sell her shares to Ralph for $15,000 per share. Because of the tag-along provision, Jordan has the opportunity to also sell his shares to Ralph for $15,000 per share.<\/p>\n<p><strong>If you\u2019re thinking of selling your business to management or existing shareholders, <a href=\"http:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/services\/business-valuation-services\/\">give the experts at Davis Martindale a call<\/a>. We\u2019d love to work with you.<\/strong>[\/vc_column_text][\/basic_container][\/vc_column][\/vc_row][vc_row][vc_column][basic_container container_size=&#8221;container container-narrow&#8221;]<div class=\"templatera_shortcode\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"basic-container row   \" >\n\t<div class=\"bg-overlay none\"><\/div>\n\t<div class=\"container\">\n\t\t\t<div class=\"text-left\">\n\t\t<a class=\"general-button btn  btn-info \" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/subscribe\/\" rel=\"\" target=\"\" title=\"Subscribe\">\n\t\t\tSubscribe to Davis Martindale's Valuation Blogs\t\t<\/a>\n\t<\/div>\n\n\t<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"basic-container row   \" >\n\t<div class=\"bg-overlay none\"><\/div>\n\t<div class=\"container\">\n\t\t\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h4><strong>Co-Authors<\/strong><\/h4>\n\n\t\t<\/div>\n\t<\/div>\n\n\t<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"basic-container row   \" >\n\t<div class=\"bg-overlay none\"><\/div>\n\t<div class=\"container\">\n\t\t<div class=\"vc_empty_space\"   style=\"height: 25px\"><span class=\"vc_empty_space_inner\"><\/span><\/div><div class=\"vc_row wpb_row vc_inner vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-3\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><div class=\"wpb_single_image wpb_content_element vc_align_center wpb_content_element\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper vc_box_border  vc_box_border_grey\"><img decoding=\"async\" class=\"vc_single_image-img \" src=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Ron-Martindale-02-2020-200x200.jpg\" width=\"200\" height=\"200\" alt=\"Head shot of Ron\" title=\"Ron Martindale - Valuation &amp; Litigation Partner - Davis Martindale\" loading=\"lazy\"><\/div>\n\t\t<\/figure>\n\t<\/div>\n<\/body><\/html>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h5 style=\"text-align: center;\"><a href=\"http:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/team-members\/ron-martindale\/\">Ron Martindale<\/a><\/h5>\n<p style=\"text-align: center;\">BASc, CPA, CA, LPA, CBV, CFF<strong><br \/>\nPartner<br \/>\nValuation &amp; Litigation<\/strong><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-3\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><div class=\"wpb_single_image wpb_content_element vc_align_center wpb_content_element\">\n\t\t\n\t\t<figure class=\"wpb_wrapper vc_figure\">\n\t\t\t<div class=\"vc_single_image-wrapper vc_box_border  vc_box_border_grey\"><img decoding=\"async\" class=\"vc_single_image-img \" src=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Jeff-Rozema-3-20-200x200.png\" width=\"200\" height=\"200\" alt=\"Head shot of Jeff\" title=\"Jeff Rozema-3-20\" loading=\"lazy\"><\/div>\n\t\t<\/figure>\n\t<\/div>\n<\/body><\/html>\n\n\t<div class=\"wpb_text_column wpb_content_element\" >\n\t\t<div class=\"wpb_wrapper\">\n\t\t\t<h5 style=\"text-align: center;\"><a href=\"http:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/team-members\/jeff-rozema\/\">Jeff Rozema<\/a><\/h5>\n<p style=\"text-align: center;\">CPA, CA, CBV<strong><br \/>\n<\/strong><strong>Manager<br \/>\nValuation &amp; Corporate Finance<\/strong><\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-3\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-3\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><\/div><\/div><\/div><\/div>\n\t<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>[\/basic_container][vc_empty_space]<div class=\"templatera_shortcode\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\">\t<div class=\"row\">\n\t\t<div class=\"general-cta background-image-loading   image   bg-center\"  data-src=\"<149:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-450x150.jpg,<319:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-960x320.jpg,<479:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-1440x480.jpg,<767:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-1600x533.jpg,<991:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-1600x533.jpg,<1199:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-1600x533.jpg,<1399:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-1600x533.jpg,>1400:https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/03\/Valuations-Group-8x2.75-1-1600x533.jpg\">\n\t\t\t\t\t\t<div class=\"general-cta-overlay overlay-primary\"><\/div>\n\t\t\t<div class=\"container\">\n\t\t\t\t<div class=\"row\">\n\t\t\t\t\t<div class=\"general-cta-box\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"general-cta-content\">\n\t\t\t\t\t\t\t\t<h2 style=\"text-align: center;\">Work With Us<\/h2>\n<p style=\"text-align: center;\">Our Valuation Advisors are ready to have<br \/>\na personalized discussion with you.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"general-cta-button\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/services\/business-valuation-and-litigation\/\" target=\"\" class=\"btn btn-primary \" title=\"Business Valuation Services\">\n\t\t\t\t\t\t\t\t\tLearn More\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t    \t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/div><\/div><\/div><\/div>[vc_empty_space][basic_container]<div class=\"post-listing blogs-items blogs-no-category-sidebar blogs-items-layout-\"\">\r\n\t\t\t\t\t\t\t\t\t<a class=\"post-listing__item\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/valuation-earnings-adjustments\/\">\r\n\t\t\t\t<div>\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"post-listing__item__image\" style=\"background-image: url(https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/08\/Valuation-Earnings-Adjustments-LG-622x622.png)\"><\/div>\r\n\t\t\t\t\t\r\n\t\t\t\t\t<h2 class=\"h3 post-listing__item__title\">\r\n\t\t\t\t\t\tUnderstanding Valuation Earnings Adjustments\t\t\t\t\t<\/h2>\r\n\r\n\t\t\t\t\t\r\n\t\t\t\t\t<p>Valuations are prepared on the notion that value is prospective; in other words, the value of a business or asset is based on the returns ...<\/p>\n\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t<span class=\"btn btn-primary btn-sm post-listing__item__button\">Read More<\/span>\r\n\t\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t<a class=\"post-listing__item\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/business_valuation_engagement_joint_retainer\/\">\r\n\t\t\t\t<div>\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"post-listing__item__image\" style=\"background-image: url(https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/06\/Engagement-Process-Part-2-768x768.png)\"><\/div>\r\n\t\t\t\t\t\r\n\t\t\t\t\t<h2 class=\"h3 post-listing__item__title\">\r\n\t\t\t\t\t\tThe Process of a Business Valuation \u2013 Engagement by Multiple Parties\t\t\t\t\t<\/h2>\r\n\r\n\t\t\t\t\t\r\n\t\t\t\t\t<p>Chartered Business Valuators (\u201cCBV\u201d) are often jointly retained by parties in an attempt to identify and resolve issues in dispute. When properly conducted, joint engagements ...<\/p>\n\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t<span class=\"btn btn-primary btn-sm post-listing__item__button\">Read More<\/span>\r\n\t\t\t\t\t\t\t<\/a>\r\n\t\t\t\t\t\t\t\t<a class=\"post-listing__item\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/business_valuation_engagements\/\">\r\n\t\t\t\t<div>\r\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"post-listing__item__image\" style=\"background-image: url(https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/app\/uploads\/2020\/06\/Engagement-Process-Part-1-747x747.png)\"><\/div>\r\n\t\t\t\t\t\r\n\t\t\t\t\t<h2 class=\"h3 post-listing__item__title\">\r\n\t\t\t\t\t\tThe Process of a Business Valuation \u2013 Engagement by One Party\t\t\t\t\t<\/h2>\r\n\r\n\t\t\t\t\t\r\n\t\t\t\t\t<p>You\u2019ve decided to engage a Chartered Business Valuator (\u201cCBV\u201d) to value your business. Perhaps you\u2019re looking to\u00a0sell your business\u00a0and want to get an idea what ...<\/p>\n\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t<span class=\"btn btn-primary btn-sm post-listing__item__button\">Read More<\/span>\r\n\t\t\t\t\t\t\t<\/a>\r\n\t\t\r\n\t\t\t\t\t<div class=\"blogs-paging\">\r\n\t\t\t\t<div class=\"nav-previous\"><\/div>\r\n\t\t\t\t<div class=\"blog-page-count\">\r\n\t\t\t\t\t<a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/\">1<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/2\/\">2<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/3\/\">3<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/4\/\">4<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/5\/\">5<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/6\/\">6<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/7\/\">7<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/8\/\">8<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/9\/\">9<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/10\/\">10<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/11\/\">11<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/12\/\">12<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/13\/\">13<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/14\/\">14<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/15\/\">15<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/16\/\">16<\/a><a class=\"page-count-link\" href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/17\/\">17<\/a>\t\t\t\t<\/div>\r\n\t\t\t\t<div class=\"nav-next\"><a href=\"https:\/\/stage.tbkdev.com\/dev\/davismartindale.com\/src\/wp-json\/wp\/v2\/posts\/1101\/page\/2\/\" >Next<\/a><\/div>\r\n\t\t\t<\/div>\r\n\t\t\t<\/div>\r\n[\/basic_container][vc_empty_space][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"Blog The Benefits and Pitfalls of Jointly Retained Engagements This blog outlines the six important steps to your business valuation engagement with Davis Martindale Advisory Services. You\u2019ve decided to engage a Chartered Business Valuator (\u201cCBV\u201d) to value your business. Perhaps you\u2019re looking to\u00a0sell your business\u00a0and want to get an idea what it may be worth. [...]","protected":false},"author":2,"featured_media":2937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-valuation-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Do I Need a Valuation? Management and Shareholder Buyouts - Davis Martindale Blog<\/title>\n<meta name=\"description\" content=\"This blog discusses the intricacies of selling your business to your company\u2019s management or other shareholders that you should be aware of.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Do I Need a Valuation? 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