New Clients, Inc.NCIs Largest Practice Sale to Date
This has been a very exciting year thus far. The emergence of private equity firms acquiring firms nationwide has provided CPAs and accountants with an unprecedented opportunity to sell their firms for excellent multiples and receive almost all cash at closing, as evidenced below.
On January 9th, 2024, I closed on the largest practice sale NCI has ever sold—and by a lot: a $3.7-million-dollar Brooklyn, NY, firm sold for a whopping 9mm cash at closing with a 3mm growth goal negotiated into the sale. That means the final sales price will be north of 12 million for this practice. You may recall my November email explaining how accounting practice valuations are changing and that the old method of using a multiple of gross annual billing was being replaced by using a multiple of EBITDA. This sale clearly demonstrates the impact of valuation changes and the entrance of private equity money into the accounting sales marketplace.
On January 9th, I closed on the largest practice sale NCI has ever sold—and by a lot: a 3.7mm firm sold for 9mm all cash at closing!, and a 3mm growth bonus negotiated into the sale.
If you are an NCI client, or if you have a practice that is predominantly write-up, taxes, and payroll, I have buyers who are willing to pay excellent multiples to acquire your firm.
If you’ve decided the previous tax season will be your last, call me now at (856) 304-1035 or email me at bruce@newclientsinc.com to discuss the value of your practice and how NCI can help you receive the absolute best price and terms for your firm.
Powering your future,
Bruce J. Clark, CEO
PS: Even if you are a few years away from selling your practice, we should talk. I may be able to negotiate an agreement allowing you to remain with your firm for an agreed upon timeframe and, of course, continue to receive a salary. This is a great way to ensure client retention is 100%, excluding the normal losses associated with running a practice. It’s the best of both worlds!
Author of:
NCI Effect Explosive Client Growth Plan for Accountants and CPAs;
Beyond the NCI Effect: Sales Strategies That Matter to Grow an Accounting Practice;
and The Seven Secrets to Selling Your Practice on Your Terms(eBook).
