Your accountant does your taxes. Your lawyer does your contracts. But nobody has shown you what a buyer would actually pay for your business - or why they'd discount it.
We bring investment banking methodology to businesses that are too small for Wall Street but too valuable for guesswork. The goal isn't to sell tomorrow. It's to have options.
Your historical performance and realistic projections, built into an integrated income statement, balance sheet, and cash flow. The same model we'd build for a nine-figure deal. This is the foundation for any serious conversation with a buyer or investor.
What your business is worth - triangulated across four methodologies: discounted cash flow analysis, leveraged buyout modeling (where applicable), public comparables analysis, and precedent transaction benchmarking. Not a rule of thumb. Not what your buddy sold for. A defensible range you can stand behind in any negotiation.
The 30+ page document that answers every question a buyer asks before making an offer. Your business, your market, your financials, your growth plan - all in one place, professionally prepared to institutional standards.
What a buyer will find in due diligence - and how to address it before you get there. Owner dependency, revenue concentration, customer churn, key-person risk, contract gaps. No surprises at the table.
What an actual transaction looks like based on your objectives and current market dynamics. Full sale, owner transition, recapitalization, partner buyout, growth capital raise. So you understand every path and what each one means for you financially.
For businesses where customers come back - subscriptions, repeat purchases, service contracts. Customer lifetime value, LTV/CAC ratios, churn patterns, and revenue quality analysis. These are the numbers buyers use to decide what they'll pay.
Everything an investment bank would prepare. You walk away knowing exactly what you have, what it's worth, and every path available to you - whether that's a full sale, an owner transition, a recapitalization, a partner buyout, or simply the confidence that comes from knowing where you stand.
Shopify stores, subscription boxes, CPG brands, Amazon sellers. We diagnose CAC pressure, retention mechanics, and the unit economics that determine what buyers will pay.
Recurring revenue businesses without VC backing. We translate your MRR, churn, and expansion metrics into the language buyers and lenders speak.
HVAC, distribution, construction, industrial services, healthcare. We help owner-operators understand what a buyer would actually pay - and what's quietly eroding that number today.
Headwaters Advisory Group was founded by Karl Keseris after 5+ years in investment banking at Canaccord Genuity, where he executed $2B+ in transactions and raised $500M+ for clients.
The problem was obvious: the businesses that need financial sophistication most - founder-owned companies between $2M and $20M - can't access it. Investment banks won't touch deals below $50M. Business brokers don't build models or CIMs. The gap is massive.
Headwaters closes that gap. We combine institutional-grade methodology with the understanding that most founders aren't looking to sell tomorrow. They're looking for clarity, optionality, and confidence that what they've built has real, quantifiable value.
No pressure to sell. No commitment required. Just a confidential discussion about where your business stands and what your options look like.
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