The study, Does Hiring M&A Advisers Matter for Private Sellers? (Agrawal, Cooper, Lian, Wang, 2023), is the most credible analysis of its kind. Published in The Quarterly Journal of Finance
Insights Backed by Data
At Good Hope Advisors, we don’t just rely on anecdotes — we look to data to guide owners through some of the most important decisions of their lives.
That’s why we’re sharing insights from a recent analysis by Axial, based on 4,400+ private company transactions.
Here’s what the data shows:
📊 25–37% higher valuations for businesses represented by an advisor.
💰 Often adding 1–2 full turns of EBITDA to the valuation multiple.
📈 Real-world case: A family-owned company nearly accepted an offer at 5.5× EBITDA. With an advisor, the final outcome was 7.5× EBITDA — a 36% premium.
Even after accounting for advisor fees, sellers net millions more when they run a competitive, advisor-led process.
At Good Hope Advisors, our role is to take these market insights and apply them directly to your business — uncovering value, creating options, and ensuring you don’t leave money on the table.
