Kensington Services, Inc.

Kensington provides objective and defensible "market driven" business valuation advice. Business value is said to be "in the eye of the beholder." The fact of the matter is that a wide range of internal and external variables relating to the company's operation play an important role in determining its business value.

Contrary to common perception, there are no simple formulas to determine the value of a business. Operational results, economic conditions at the time of sale, the type and motivation of buyer, the cost of capital, and competition for acquisitions, are all factors that can affect the value of a business.

In most circumstances the type of buyer involved determines "market driven" value of the company

Formal valuations for estate, tax and insurance purposes can differ substantially from "market driven" values. There are limited resources for accessing accurate and comparable business sales data for lower middle market private companies. As a result, formal valuations in many circumstances are based on subjective assumptions that may not be consistent with the reality of "market driven" values.

Kensington's transactional experience in representing sellers and buyers provides the basis to effectively identify and analyze all the variable factors that affect a "market driven" business valuation. In addition, our access to real-time pricing trends from affiliated M&A intermediaries across the country, allows us to consistently produce a business valuation that is fair, objective and, most importantly, realistic.