Module II· Precedent TransactionsAdvanced

Question

How do you source recent deal multiples for a middle-market target?

Answer

Source hierarchy for middle-market M&A:

Mergermarket regional coverage — the best regional depth for private deals.
Regional M&A trade press — local deal news with multiple indications.
National private-equity association statistics — aggregated PE deal multiples.
PwC / KPMG / EY M&A market studies — quarterly sector multiples.
Large-cap PE sponsors' investor calls — deal disclosure for publicly sponsored deals.
Industry-association newsletters (e.g. sector trade bodies for machinery deals).
Direct outreach to sector advisers (mid-market M&A boutiques) for off-the-record market reads.

Deep diveShow more details

Pitch tip

On middle-market mandates, a direct network is often more precise than a database search — 'Recent sector deals indicate 9–10x EV/EBITDA pricing per network conversations'.

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