Keystone Business Ventures, Inc. is a strategic merger & acquisition advisory, that also provides certified business valuation and assists business owners with commercial real estate investment services.  The company serves clients throughout Pennsylvania from its office in Williamsport, PA.  Starting in 1986 as VR Brokers, the company has been under its present ownership and name since 1996. In 2020 Keystone began its entrance into South Central PA with services based out of Hanover, PA. Keystone Business Ventures M&A Advisors hold Pennsylvania Real Estate licenses and have a combined 80+ years of experience as business owners.

Our Mission

  1. Be the trusted valuation resource throughout Pennsylvania. Valuations and analysis the keystone of all strategic advisory, acquisition, business development and commercial real estate investment services.
  2. Establish a concentric valuation presence throughout the regional market area.
  3. Develop and mine a network of contacts (regional and national) for valuation, development, transfer, buy, sell, merge, and lease opportunities.
  4. Maintain and market an accurate database of business valuation, merger and acquisition, and investment real estate opportunities for prospective Influencers, Buyers, Sellers, Developers, Venture Capitalists, Angel Investors, Lenders, Financiers, Asset Managers, and Consultants.
  5. Expand and train a competent sales force in credentialed business, machinery, and equipment valuation, confidential Merger & Acquisition marketing and sales; business consultant skills; and commercial real estate investment practices.
  6. Internally develop and train a professionally skilled workforce in operating a contact resource management (CRM) system with best practices and proven techniques.

Our History

The firm began in 1986 as VR Brokers, a national business brokerage franchise. Lora Morningstar founded the firm as the broker/owner.

In 1993, she incorporated as Business Ventures, Inc. and traded as Real Estate Ventures, providing commercial real estate and business brokerage services in Lycoming County and the contiguous counties. At this time the franchise agreement with VR Brokers expired.
In 1996, the business was sold to Keystone Business Ventures, Inc., which traded as Keystone Real Estate Ventures. With the acquisition, the mission market area was extended throughout Pennsylvania.

William A. Knoch took over as the president of the corporation. In 1999, he assumed the duties of broker of record.
In 2003, business valuation was added to the firm’s services. In 2013, certified business appraisal skills enhanced the services with Mr. Knoch obtaining the Institute of Business Appraiser’s Certified Business Appraiser (CBA) designation. In 2014, Mr. Knoch added the National Association of Certified Valuation Analysts’ Certified Valuation Analysts (CVA) designation.

In 2021, Keystone added the Certified Machinery and Equipment Appraiser (CMEA) designation to add equipment appraisals to the services offered.

Our Team

With over 80+ years of combined business ownership experience, the staff understands firsthand today’s challenges that business owners face. All our associates have a broker, associate broker, or salesperson real estate license issued by Pennsylvania’s Department of State, Bureau of Professional and Occupational Affairs.

William "Bill" Knoch
President/Broker of Record

As a retired Lieutenant Colonel, after twenty years of continuous service from the United States Army, Bill brings over forty-five continuous years of strong leadership and management performance in all facets of acquisition, management, and operations. He has held command positions of increasing responsibility at the Platoon, Company, and Battalion levels. As a Regular Army Officer, his career concentrated on assignments in the Finance Corps and Military Comptrollership (Military Occupational Skill (MOS) 44A45) requiring extensive resource management, financial analysis, accounting, budgeting, customer service, logistical operations, and employee development experience.

Bill owns and operates Keystone Business Ventures, Inc., a certified business valuation, merger, acquisition, and strategic advisory firm which markets over $150 Million in assets every year. Market segment spans Pennsylvania and surrounding states with three acquisition advisors ranging in varying degrees of business ownership, sales, and consulting skills. He operates a commercial real estate company to compliment the sale of businesses. Keystone provides business consultant services (e.g., exit and succession planning, strategic business improvement, and commercial real estate investments) to clients on an as needed basis. The firm specializes in certified business, machinery, and equipment appraisals and confidential acquisitions, mergers, and sales with a target market of companies between $1M and $20 M in revenue.

Education and Professional Qualifications:

  • Certified Machinery and Equipment Appraiser (CMEA) designation awarded from the National Equipment Business Builders (NEBB) Institute in February 2021.
  • Business Certified Appraiser (BCA) designation awarded from the International Society of Business Appraisers (ISBA) in March 2017.
  • Certified Valuation Analysts (CVA #992544) designation awarded from the National Association of Certified Valuators and Analysts (NACVA) in December 2013. (In 2008 the National Commission for Certifying Agencies (NCCA) granted accreditation to NACVA for its CVA designation for demonstrating compliance with NCCA Standards for the Accreditation of Certification Programs.)
  • Certified Business Appraiser (CBA #10852) designation awarded from the Institute of Business Appraisers in June 2013.
  • Licensed as a Pennsylvania Real Estate Broker, 1999
  • Licensed as a Pennsylvania Real Estate Salesman, 1996
  • Graduate of the U.S. Army Command and General Staff College, (a ten-month management and leadership course for mid-level executives) Fort Leavenworth, KS 1991
  • Master of Business Administration, with a concentration in Contracting and Acquisition, Western New England University, Springfield, MA, 1986
  • Graduate of the Military Comptroller’s Course , Fort Benjamin Harrison, IN 1979
  • Graduate of the Finance Officer’s Advance Course, Fort Benjamin Harrison, IN 1979
  • Graduate of the Finance Officer’s Basic Course, Fort Benjamin Harrison, IN 1976
  • Bachelor of Science in Finance, Gannon University, Army ROTC Scholarship Recipient, Erie, PA, 1975

Michael Roan

Michael resides in Loyalsock Township with his wife and four children. Michael graduated from Williamsport Area High School, Erie Business Center, and Edinboro University where he earned an associate degree in Business Administration/Sales and Marketing and a Bachelor of Arts Degree in Business Economics. He represented the United States of America at the 1975 Boy Scout World Jamboree in Lillehammer, Norway, and earned the Eagle Scout award in 1979. Michael has been a member of the Trout Run United Methodist Church since 1978 and is a 30-year member of the Ralston Hunting Club. Michael began working for Roan, Inc. Auctioneers in 1982 and launched the real estate auction division in 1994. Beginning in 2008, Michael began studying the Natural Gas industry by traveling to the North American Prospecting Exposition in Houston, Texas. In 2017, Michael left Roan, Inc. to launch Roan Real Estate, a real estate auction company.

Michael's work has ranged throughout Pennsylvania for over 40 years. He brings experience and relationships with businesses and landowners from all over the country.

Michael's experience lends itself well to the goals of Keystone Business Ventures as he is able to provide insight into the business operations of small businesses in this rural tertiary market.

Professional Qualifications:

  • Managing Partner-Roan Realty's 14 houses, 1986-2000
  • Rebuttal Witness for Inflection Energy
  • Real Estate Salesperson
  • Associate Real Estate Broker, Keystone Business Ventures 2002-Present


  • $88,949,264 in total sales since 1980
  • Real estate clients include PA DEP, YMCA, Penn College, Jersey Shore, Mifflinburg, Troy, and South Williamsport School Districts, Fishing Creek Township, Columbia County, McHenry Township, Jersey Shore State Bank, Citizens and Northern Bank, First National Bank, Susquehanna Bank, Muncy Bank and Trust, and M&T Bank.
  • Manages the real estate auction division of Letteer Brothers Auction Company, Benton, PA
  • Owner of Michael's Advertising
  • Owner of Roan Racing, a Super Sprint Car Team


  • Salvation Army
  • American Cancer Society
  • Multiple Sclerosis Society
  • Trout Run Volunteer Fire Company
  • And many more

Matt Barone

Matt Barone joined Keystone Business Ventures almost four years ago as a Merger and Acquisition Advisor with the goal to assist small business owners. Matt brings a diverse background with experience in business-to-business sales across many different industries. This experience has taught Matt what it takes to identify and connect with buyers and sellers. As a startup business owner himself, Matt opened and operated a wholesale bread bakery. Matt worked with Bill Knoch of Keystone Business Ventures setting up the financing and business model for the bakery. Matt is excited about the opportunities that Keystone Business Ventures can create in the merger and acquisition community. These opportunities can benefit small businesses, developers, and investors alike. As Matt often says, “the market is poised for growth and transition in all industries.”

Education and Professional Qualifications:

  • Bachelor's Degree in Philosophy, Lycoming College, 1994
  • Licensed as Pennsylvania Real Estate Salesperson, 2018


Charlie Overmoyer

Charlie joined Keystone in 2020 as a Merger and Acquisition advisor. As a Certified Machinery and Equipment Appraiser, as well as a licensed Pennsylvania Real Estate Salesperson, Charlie, is equipped to aid business owners through the acquisition, growth, and sale of the business. Charlie is based in Hanover, PA and is available to provide all of Keystone's services throughout South Central PA.

Educational and Professional Qualifications:

  • Bachelor's Degree in Quantitative Economics, Lycoming College, 2020
  • Licensed as Pennsylvania Real Estate Salesperson, 2020
  • Certified Machinery and Equipment Appraiser (CMEA) designation awarded from the National Equipment Business Builders (NEBB) Institute in February 2021.
  • Certified Valuation Analyst (CVA) designation awarded by the National Association of Certified Valuators and Analysts (NACVA), 2022