Module II· Precedent TransactionsIntermediate
Question
How do you find disclosed multiple information for private middle-market deals?
Answer
Sources:
- Mergermarket / Dealreporter: news coverage, often with concrete multiple indications.
- Press releases from the buyers (especially listed ones): deal value and EBITDA assumptions are often disclosed on investor calls.
- Buyers' annual reports: goodwill notes can imply deal multiples.
- Industry newsletters (e.g. sector M&A trade press).
- Regulatory filings with the securities regulator in public-to-private deals.
- Direct research: for listed targets before a take-private, the share price the day before the deal announcement vs. the offer price. For pure private-to-private deals a concrete multiple is often unavailable — then use an 'estimated multiple' with a sanity-check range.
Deep diveShow more details
Pitch tip
'Multiple range estimated 8–10x EV/EBITDA based on market commentary; not officially disclosed' — transparency.