News

News

Links’ List of Multiples and Buyers | MARCH 2024

In the latest quarter, deal multiples in transactions below $50 million increased. Deals in the $10-$25 million range experienced a 0.7x increase to 6.6x TEV/EBITDA, while those in the $25-$50 million range rose by 0.1x to 7.0x TEV/EBITDA.

However, there was a multiples compression for deals in the $50-$250 million range. Transactions between $50-$100 million decreased by a full turn from 8.7x to 7.7x TEV/EBITDA, and those between $100-$250 million also declined by a full turn from 11.1x to 10.1x TEV/EBITDA.

Links’ List of Multiples and Buyers | MARCH 2024 Read More »

Links’ List of Multiples and Buyers | JUNE 2023

In the first quarter of 2023, we observed an increase in valuation multiples across all deal sizes, following a decline in the fourth quarter of 2022.  This trend mirrors what is happening in the stock market.  When analyzing the data on completed transactions, we noticed that only a select portion of the market is experiencing gains (high quality transactions), similar to 7-10 companies driving the stock market gains.

Links’ List of Multiples and Buyers | JUNE 2023 Read More »

Links’ List of Multiples and Buyers | MARCH 2023

In Q3 2022, equity contributions in M&A transactions amounted 54.3% of the total contribution in deals, but this dropped to 41.2% in Q4 2022 while debt increased from 45.7% to 58.8%.  Private equity investors are no longer paying up with equity contributions on transactions. This shift indicates that valuations have come down and are normalizing towards the mean after a period of elevated multiples.

Links’ List of Multiples and Buyers | MARCH 2023 Read More »