From $8.75M to $15M: How The McFarland Group Delivered a 71% Premium

The McFarland Group, an Omaha-based advisory firm founded by Byron McFarland, has published a case study of a sell-side engagement that closed in July 2026. The transaction involved a founder-owned electrical testing and field services company that the owner had built over twenty years. When the owner approached The McFarland Group, he already held four signed letters of intent, with the highest offer at $8.75 million. Rather than replacing those buyers, the firm ran a competitive process around them, keeping all four at the table and adding three additional qualified parties. Every participant worked from identical information on the same deadline. The result: the deal closed at $15 million—a significant increase—with no escrow and a working capital formula unchanged from the one the firm initially proposed. The owner, who intended to stay on and roll equity, elected to roll approximately ten percent. The case study emphasizes the importance of diligence: reaching agreement took about six weeks, but closing took three more months. Four diligence teams combed through the twenty-year-old company, surfacing seven live risks, including an employment matter from before the sale process, workforce documentation questions, and three separate threads on the integrity of the company's S corporation election that carried seven-figure back tax exposure. Each issue was resolved or cleared before closing. John Bruckner, Managing Partner, noted, "We could not promise him a number, and nobody honestly can. What we could promise was a competitive field and the backing to get through the part that comes after the handshake." The full case study is available at themcfarlandgroup.com/case-study/sell-side-electrical-testing.

The McFarland Group, which has guided over $3 billion in business value through more than 200 ownership transitions over two decades, offers M&A advisory, selling a business to management, and performance equity compensation for key leaders. The firm's guiding idea is "Go Boldly." This case study illustrates how a well-structured competitive process can dramatically improve outcomes for owners who might otherwise settle for early offers. It also highlights the critical role of thorough diligence in uncovering hidden risks that could derail a deal or result in significant financial exposure. For business owners considering a sale, the message is clear: engaging an advisor early and running a rigorous process can lead to better terms and a smoother transition.