What Marshall & Stevens does

Marshall & Stevens is an independent valuation, transaction advisory, and litigation support firm founded in 1932 and headquartered in Los Angeles, California. The company operates three core service lines: Valuation Services (business, ESOP, intangible asset, machinery and equipment, real estate, and financial reporting valuations), Transaction Advisory & Opinions (fairness opinions, solvency opinions, due diligence, quality of earnings), and Disputes, Litigation & Forensics (bankruptcy, receivership, forensic accounting, damages calculations, divorce services, expert witness testimony). Through its wholly owned subsidiary MS Capital, the firm also delivers boutique investment banking services including sell-side advisory and management buyouts. Engagements are delivered by credentialed professionals holding MAI, MRICS, ASA, ABV, CFA, CFE, CFF, CIRA, and CDBV designations.

The firm serves a diversified B2B client base across at least six segments: public companies, private enterprises and business owners, private equity and other investors, audit and tax professionals, lawyers and disputing parties, and insurance professionals. It maintains dedicated sector expertise in energy (conventional and renewable), healthcare, data centers, private equity, SBA finance, SPAC/de-SPAC, and cannabis. The GTM motion is relationship-driven: engagements originate through referrals from attorneys, accountants, and investment bankers, supplemented by direct enterprise outreach and thought-leadership content. Pricing is project-based and not publicly disclosed.

Following a majority recapitalization by Coalesce Capital in December 2025 (preceded by Lafayette Square financing in February 2024), Marshall & Stevens has executed nine acquisitions since 2023 to consolidate independent valuation boutiques across Salt Lake City, Dallas-Fort Worth, Minneapolis, Orange County, New York, and San Antonio. The platform now operates 11 U.S. offices with 51–100 employees, and the PE sponsor's stated use of funds targets further acquisitions, talent development, and technology investment. Marshall & Stevens does not disclose revenue, has no proprietary technology platform described in the source material, and operates exclusively in the United States.

Name

Marshall & Stevens

Legal name

Marshall & Stevens Inc.

Website

https://marshall-stevens.com

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Business Valuation and Advisory Services

NAICS

Professional, Scientific, and Technical Services (541), Other Legal Services (54119)

SIC

Investment Advice (6282)

akta.pro primary industry

Litigation Support & Expert Witness (Valuation-Related) (BPAHANAG)

akta.pro secondary industries

Business Valuation & Litigation Support (BPAHABAK), Litigation & Dispute Valuation (damages, shareholder disputes) (FSAEAHAI)

Keywords

• Independent business valuation
• Transaction advisory services
• Litigation support services
• Forensic accounting services
• ESOP valuation services

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Valuation Services: Professional service fees for business valuations, intangible asset valuations, real estate valuations, machinery and equipment valuations, and financial reporting valuations performed for audit, tax, and compliance purposes.
2. Transaction Advisory: Fees for fairness opinions, solvency opinions, buy/sell/finance advisory, due diligence, quality of earnings analyses, and investment banking services (MS Capital) for mergers, acquisitions, and recapitalizations.
3. Disputes, Litigation & Forensics: Professional fees for forensic accounting, damages calculations, divorce services, litigation support, expert witness testimony, bankruptcy consulting, and receivership services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Marshall & Stevens is an independent professional services firm providing business, intangible asset, real estate, machinery and equipment, and ESOP valuations; fairness opinions, solvency opinions, and due diligence for transactions; and forensic accounting, damages calculations, and expert witness services for disputes. The firm operates three primary service lines — Valuation, Transaction Advisory & Opinions, and Disputes, Litigation & Forensics — and also runs MS Capital, a boutique investment banking practice. Engagements are delivered by credentialed professionals (MAI, ASA, CFA, ABV, CFE, CFF, CDBV) across 11 U.S. offices to public companies, private enterprises, PE firms, attorneys, accountants, and insurers.

Product overview

Marshall & Stevens is a premier national independent valuation consulting, transaction advisory, and litigation support firm founded in 1932. The company operates as a unified professional services platform offering three interconnected service lines: Valuation Services (business valuation, ESOP valuation, estate and gift appraisals, financial reporting, intangible assets, machinery and equipment, real estate, project finance, and tax planning), Transaction Advisory & Opinions (fairness opinions, solvency opinions, due diligence, buy/sell advisory), and Disputes, Litigation & Forensics (bankruptcy, damages calculations, divorce services, forensic accounting). Within the transaction advisory practice, MS Capital provides investment banking services including sell-side advisory, succession planning, and liquidity events. The firm serves multiple industry sectors including energy, healthcare, data centers, private equity, and cannabis, and has completed nine acquisitions since 2023 to expand its capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Valuation Services Comprehensive independent valuation services spanning business valuation, ESOP valuation, estate and gift appraisals, financial reporting valuations (IRC 409a/ASC 718, fresh start accounting, impairment testing, portfolio/fund valuations, purchase price allocation), intangible asset valuation, machinery and equipment valuation, real estate valuation, project finance valuation, and tax planning and reporting (ad valorem, cost segregation, transfer pricing). Serves public companies, private enterprises, PE firms, business owners, and tax/audit professionals requiring defensible, independent opinions.
• Transaction Advisory & Opinions Independent transaction opinions and advisory services including fairness opinions, solvency opinions, buy/sell/finance advisory, due diligence and quality of earnings, and sector-focused transaction support for energy and infrastructure, healthcare, data centers, private equity, and SBA finance. Targets fiduciaries, financing sources, business owners, and investors involved in M&A, recapitalizations, and financing events.
• MS Capital — Investment Banking Boutique investment banking services offered through MS Capital, a wholly-owned subsidiary of Marshall & Stevens. Services include exclusive sales and divestitures, management buyouts, joint venture structuring, and growth strategies, supporting entrepreneurs and business owners through succession planning, liquidity events, valuations, and transaction-related decisions.
• Disputes, Litigation & Forensics

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor.

• The Pinnacle GroupminorGTM or Marketing Partner · 1 April 2026The Pinnacle Group participated as a partner organization at the Prospera Financial Services Generational Wealth Forum in April 2026, alongside Marshall & Stevens and other wealth strategy providers.
• The Wealth Advisors Trust CompanyminorGTM or Marketing Partner · 1 April 2026The Wealth Advisors Trust Company participated as a partner organization at the Prospera Financial Services Generational Wealth Forum in April 2026.
• American Endowment FoundationminorGTM or Marketing Partner · 1 April 2026American Endowment Foundation participated as a partner organization at the Prospera Financial Services Generational Wealth Forum in April 2026.
• Pacific LifeminorGTM or Marketing Partner · 1 April 2026Pacific Life participated as a partner organization at the Prospera Financial Services Generational Wealth Forum in April 2026.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• BDO USA (Valuation & Business Analytics): BDO USA's Valuation & Business Analytics practice provides business and intangible asset valuation, ESOP, and litigation support—directly comparable to Marshall & Stevens' core services for middle-market clients and CPA referral channels.
• Valuation Research Corporation (VRC): VRC is an independent global valuation firm providing business, intangible, and financial reporting valuations with a similar independent, partner-led model—directly comparable in service mix and credentialed talent to Marshall & Stevens.
• Grant Thornton (Valuation & Forensic): Grant Thornton's Valuation and Forensic Advisory services compete directly with Marshall & Stevens on transaction opinions, financial reporting valuations, and dispute/litigation support for middle-market and PE-backed companies.
• Stout: Stout is a mid-market-focused independent advisory firm offering valuation, transaction advisory, and disputes/litigation support—directly overlapping Marshall & Stevens' core three service lines with a similar client base of private enterprises, PE, and counsel.
• EisnerAmper (Valuation & Forensic): EisnerAmper provides business valuation, forensic accounting, and litigation support, with similar middle-market and CPA-referral client channels and overlapping ESOP and transaction opinion capabilities.
• RSM US (Valuation): RSM US offers a middle-market-focused valuation practice serving private businesses, PE, and ESOP clients—closely overlapping Marshall & Stevens' positioning in the same client segments and CPA referral networks.

Broad incumbents

• Houlihan Lokey: While primarily an investment bank, Houlihan Lokey's Transaction Opinion and Corporate Valuation services compete with Marshall & Stevens on fairness opinions and solvency opinions, though typically on larger public-company engagements.
• Alvarez & Marsal: A&M provides independent valuation, transaction advisory, and disputes services through its Valuation, Disputes and Investigations practice, overlapping Marshall & Stevens on quality of earnings, fairness opinions, and expert witness work.
• Kroll (formerly Duff & Phelps): Kroll is a large global valuation, investigations, and corporate finance firm; its Valuation Services practice directly competes with Marshall & Stevens in business valuation, disputes, and transaction opinions, but at significantly larger scale.
• FTI Consulting: FTI Consulting's Corporate Finance & Restructuring segment competes head-to-head with Marshall & Stevens on fairness opinions, solvency opinions, expert testimony, and forensic accounting for large and complex engagements.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/marshall-&-stevens
• Xx.com/mstevensinc1932
• Facebookfacebook.com/marshall-stevens-inc-154646677903686

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Marshall & Stevens