Erik J. Ehrhart
Principal, Valuation Analyst

Heather Lyon, CPA
Valuation Analyst

Lace Pettigrew
Office Manager

BEAR Business Valuation LLC
354 East 5th Street
Chico, CA 95928

(530) 879-9504

Heather Lyon, CPA

Valuation Analyst

Heather is a Principal of BEAR Business Valuation LLC. Previously, she worked as a business valuation analyst at Business Equity Appraisal Reports, Inc., and its sister companies Business Value Group, LLC (BVG), and ValuePlan, LLC, starting in June 2015. She is a Certified Public Accountant registered in California.

She has prepared 1,000 valuations, and her appraisal experience includes projects related to tax, estate and gift, and financial reporting and includes 409(A), goodwill impairment, fractional-interest discounts, mergers and acquisitions, C-to-S-corporation built-in gain calculations, ESOPs, ASC 805 purchase price allocations, and intellectual property valuations. She also frequently works with business owners on planning a business sale or buy-out of co-owners.

Heather has had the opportunity to conduct appraisals in the following industries: technology, retail, manufacturing, distribution, construction, healthcare, professional services, education, and more. These projects have included a wide range of business types, from Main Street proprietors, to multinational companies on track for IPO.

Heather was a CPA in public practice for many years at regional firms in the Bay Area and Chico. She was involved in auditing, financial statement preparation, tax planning and preparation, tax audit representation, tax research, business valuation, litigation support services, and forensic accounting.

In 2003, Heather took a break from public accounting to open an independent bookstore in Chico. Lyon Books was voted Chico’s Best Bookstore for many years running. Heather became a leader in the in the independent bookstore field. She was a member of the American Booksellers Association and was a board member of the Northern California Independent Bookstore Association, and frequently taught seminars on business management to other members. After 12 years of owning and operating Lyon Books, Heather closed the store due to changes in the ecommerce and publishing landscape. This challenging and exciting experience of entrepreneurship, through start-up, growth, and finally liquidation, was a master class for Heather in real-world business management.


  • BS in Accounting from San Jose State University
  • Graduate coursework in Finance, Taxation and Business Administration through Golden Gate University

Certifications and Membership Associations

  • Certified Public Accountant
  • California Society of Certified Public Accountants (CalCPA)
  • American Institute of Certified Public Accountants (AICPA)

Continuing Education

  • Heather has been involved in hundreds of hours of continuing education and remains current with the continuing education requirements of the California State Board of Accountancy.
  • Heather is in the process of achieving the Accredited in Business Valuation (ABV) accreditation through the AICPA.