Rogerson Business Services Research
Advisory Approach
Rogerson Business Services is a California-focused lower middle market M&A advisory firm founded in 2006 by Andrew Rogerson. The firm operates with a clear thesis: selling a business in California requires specialized expertise due to the state's unique regulatory environment, complex tax laws, and competitive market dynamics. Their sweet spot is owner-operated businesses with $2M-$100M in gross revenue, particularly those where the founder is approaching retirement and seeks a confidential, structured exit process.
Unlike traditional investment banks that may apply a one-size-fits-all approach, Rogerson Business Services emphasizes the distinct challenges of California business sales. The firm believes that successful exits require exhaustive buyer outreach, meticulous preparation, and deep expertise in navigating California-specific requirements including state licensing, environmental regulations, and the California Bureau of Real Estate framework. They are not a fit for businesses below $1M in revenue, pure asset sales, or founders seeking a rushed, limited-process sale.
Sector Focus
Rogerson Business Services has developed particular depth in several California industries. Their largest practice area is manufacturing, including discrete manufacturing (precision machining, metal fabrication, custom trailer manufacturing) and process manufacturing (art supplies, building products, chemicals). The firm has completed numerous transactions in construction and industrial services (roofing contractors, HVAC, concrete paving, landscaping, tree services), distribution (building products, office supplies, food distribution), and transportation (trucking, moving and storage, logistics).
They also maintain active practices in healthcare services (medical practices, dental, urgent care centers), business services (executive search, staffing, property management), and retail (auto repair, car wash, grocery stores with real estate). Their industry expertise extends to understanding California-specific licensing requirements (Contractors State License Board, medical facility regulations, environmental permits) which proves critical during due diligence.
Deal Track Record
Rogerson Business Services has completed 73+ transactions since 2006, with 13 closed deals recorded on the Axial platform where they've been a member since 2016. Notable representative transactions include the sale of Central Valley Trees and Landscaping Services, a 44-year-old tree and landscaping business with 21 employees and $1.58M in revenue, sold to a general contractor buyer in 2019 after navigating SBA financing and a 35-day government shutdown. They also sold a Bay Area moving and storage business that had initially failed to sell in 2021 due to customer concentration concerns (single client representing 15%+ of revenue was Twitter/X post-acquisition); Andrew Rogerson implemented a growth plan and successfully closed the transaction in 2023 with over 100 qualified buyer inquiries.
Other completed transactions span HVAC contractors, medical device manufacturing, lumber companies with real estate, RV dealerships, mortgage brokers, nurseries and garden centers, emergency response companies, air ambulance services, and various manufacturing and distribution businesses. The firm maintains a public "sold businesses" page listing 60+ historical transactions with sale prices ranging from $150K to $4.4M.
Process & Fee Structure
Rogerson Business Services runs a structured sell-side process designed for the California lower middle market. Their four-step process begins with business valuation using multiple methodologies, followed by buyer analysis and qualification. They then execute a targeted marketing campaign through off-market channels, Axial, BizBuySell, and their proprietary network, generating 50-100+ qualified buyer inquiries per engagement. Finally, they manage negotiation, due diligence, SBA financing coordination, escrow, and closing.
Typical engagement terms include a retainer of $10K-$25K/month (credited against success fee) with a success fee of 5-10% of sale price, sometimes structured as a Lehman formula (10% on first $1M, declining percentages on higher tranches). Engagements typically run 6-12 months, though complex transactions can extend to 18 months. They require exclusivity and focus on businesses with minimum $1M sale price.
Buyer Network
Rogerson Business Services maintains relationships across multiple buyer categories. Their network includes individual buyers and first-time entrepreneurs, private equity groups and search funds targeting the lower middle market, strategic buyers (competitors and adjacent industry players), and family offices. While they work with PE firms, their transactions skew toward individual and strategic buyers rather than institutional PE. They have particular strength in California-based buyers who understand the state's business environment.
Competitive Positioning
Rogerson Business Services differentiates through California specialization, founder-led operations, and comprehensive service offerings. Unlike national M&A firms, Andrew Rogerson has owned and operated five businesses across Australia and California since 1983, giving him practical operator experience that resonates with seller-owners. The firm's combination of business brokerage (California DRE #01861204), M&A advisory (CM&AP, M&AMI designations), and certified equipment appraisal allows them to handle complex transactions involving commercial real estate, equipment, and going-concern business value.
Their content marketing and thought leadership are extensive, with Andrew publishing four books on business ownership/sales and maintaining active blogs on M&A concepts. They emphasize transparency with secure data rooms, standardized documentation, and detailed buyer qualification processes. The firm's Axial membership since 2016 provides access to institutional buyers while their California focus ensures regulatory expertise.
Team
Andrew Rogerson serves as Founder and President, supported by a professional deal team that includes legal experts, CPAs, tax professionals, and industry specialists. Andrew's credentials include Certified Mergers & Acquisition Professional (CM&AP), Mergers & Acquisition Master Intermediary (M&AMI), Certified Business Intermediary (CBI), Lifetime Certified Business Broker (LCBB), Expert Equipment Certified Appraiser (EECA), and California Bureau of Real Estate Broker license #01861204. He is a past local chair of the Sacramento Chapter of the California Association of Business Brokers (CABB) and has received the highest designations from M&A Source. The firm operates from 5150 Fair Oaks Blvd in Carmichael, California with a small core team augmented by external professionals as needed.
Geographic Coverage
Rogerson Business Services focuses exclusively on California businesses, with primary concentration in the Sacramento region, Bay Area, and broader Northern California market. They have completed transactions across the state including Southern California and Central Valley. While California-focused, they have facilitated buyer interest from out-of-state and international buyers familiar with California's business environment.