For buyers: If you look at a deal Company Broker Group are pushing, you should have a strong background in evaluating financials.
For example, I looked at a deal advertised at $165k of earnings and upon review of tax returns + addbacks, it clocked in at less than $100k.
Another was advertised at $1.35MM in discretionary earnings and the company was actually losing money.
Their advertised income to the buyer includes lots of contingencies and is mostly blue sky (i.e. air) so buyer beware.
Several lenders in Denver have told me they are aware of their reputation.
Regarding their tactics, I came to a verbal agreement on a deal with them and days later a renegotiation was attempted so I walked away.
One of the partners advertises himself as “a broker since 1984”.
Note, he was an investment (not business) broker, was barred from the securities industry, and has had his new gig for less than five years: brokercheck.finra.org/in… (Jeff Eisnaugle)
For sellers: If you’re a serious buyer, you don’t want these two representing you.
My direct experience is that they won’t provide a reasonable estimate of the value of your company.
They’ll create a false sense of value in your mind and inaccurately state the actual value of your business which will delay the sale to any intelligent buyer. Avoid.
Interesting to note the timing of the many positive reviews which immediately followed this initial posting.
Also, interesting to note their brevity. Clearly friends and family.