How to Maximize the Value of Your EAP Business Before a Sale

Employee Assistance Programs (EAPs) are experiencing growing buyer interest from both private equity firms and strategic acquirers. With this momentum, many EAP owners are considering a sale—but far too many leave value on the table due to lack of preparation.

📘Want to position your EAP business for a higher-value sale?

Download our free guide: “5 Private Equity Secrets: How to Maximize the Sale of Your EAP Business.”It outlines the exact strategies buyers use to assess—and sometimes discount—your business, and how to flip that dynamic in your favor.

At Olympic M&A, we recently helped an EAP owner secure over seven figures more than their initial offer by guiding them through simple but powerful value-building steps. If you’re thinking about selling in the next 6 to 24 months, here’s how to position your business for maximum value.

1. Clean Up Financials and Normalize EBITDA

Buyers are increasingly valuing EAPs based on EBITDA, not just revenue—so accurate, clean financials are critical. To prepare:

Eliminate personal expenses from your books
Identify and adjust for non-recurring or discretionary costs
Work with a CPA or M&A advisor to create a sell-side Quality of Earnings (QOE) report
Highlight margin strength and year-over-year growth

The clearer your earnings picture, the more credible and attractive your valuation becomes.

2. Diversify and Strengthen Your Contracts

Buyers want reliable, recurring revenue—not concentrated risk. That means:

Minimizing reliance on any single employer contract
Securing longer-term or automatically renewing agreements
Demonstrating strong client retention and renewal rates
Including performance metrics or ROI reporting in employer-facing materials

If 30% or more of your revenue comes from one client, it may raise a red flag. Diversification improves both value and deal structure options.

3. Build a Transition-Ready Team

A buyer’s biggest concern is whether the business can run without the owner. You can resolve that concern by:

Empowering clinical and operational leaders
Defining formal roles and responsibilities
Creating SOPs and documented workflows
Training your team to manage daily operations independently

Even if you plan to stay on post-sale for a period, a well-prepared team reduces buyer risk—and can improve deal terms.

4. Upgrade Systems and Compliance

EAP buyers are often behavioral health companies or PE-backed platforms that rely on integration. Your systems should be ready:

Use reliable EHR, billing, and scheduling tools
Ensure HIPAA compliance, license verification, and credentialing are in place
Track and report on KPIs such as client utilization, renewal rates, and satisfaction scores

Tech and compliance readiness signals scalability and reduces post-closing headaches—both key drivers of value.

5. Prepare for Diligence Before Going to Market

Don’t wait for a buyer to start asking questions. Organize everything now:

Corporate governance documents (LLC agreement, EIN, licenses)
Client contracts and financials
Payroll records and HR documentation
Insurance, lease agreements, and any vendor contracts

A ready-to-go diligence folder shortens the closing timeline and creates leverage during negotiation.

6. Consider a Confidential Market Check

If you’re not sure you’re ready to sell but want to understand your options, a confidential market check can help. A good M&A advisor can:

Assess buyer interest
Gauge valuation potential
Identify strategic or PE groups actively seeking EAP acquisitions

This insight can inform your timeline and help you make decisions with confidence.

Final Thoughts

Maximizing the value of your EAP business doesn’t require a massive overhaul—but it does require intentional planning. From financial cleanup to leadership delegation and contract review, small steps can create significant results.

At Olympic M&A, we’ve helped EAP owners achieve life-changing outcomes by preparing their business the right way—including a recent deal that earned our client over seven figures more than expected.

To learn more about preparing your EAP business for sale and navigating private equity transactions, download our free “5 Private Equity Secrets” guide here.
For a confidential conversation about your options, contact Tony Siebel at 502.360.8320 or email tonys@olympicma.com.Connect with Tony on LinkedIn: linkedin.com/in/tonysiebel

About The Author

Tony Siebel is the Managing Director of Olympic M&A, a Louisville-based advisory firm
specializing in healthcare and high-value service businesses. With more than seven
years of experience in psychiatry, behavioral health, physician practices, and recurring
service industries, he has built a reputation for helping founders capture the full value of
their life’s work.
Through Olympic M&A, Tony connects owners with private equity groups, family offices,
and strategic buyers nationwide. His hands-on, data-driven approach ensures owners
maximize value while protecting their legacy during the most important transaction of
their lives.

Download Your Free e-Book

Get instant access to Olympic M&A’s exclusive guide revealing 5 Private Equity Secrets to maximize your business’s sale value and avoid costly M&A pitfalls.