LOI Prices vs. Closing Multiples: The Gap Is in the Tails
Two years of LOI prices on deals presented to us (n=272) against Axial's closed-deal multiples: the medians match, the tails don't.
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Showing 3 posts with tag: valuation
Q2 2025 Closed Deals: 5 Takeaways from 584 SMB Acquisitions
TTM multiples slid to 3.3x in Q2 2025 — a 12-quarter low. Five takeaways from Search Fund Ventures' analysis of 584 SMB closed deals.
SMB Purchase Multiples 2015–2025: A Decade of Data
Average SMB acquisition multiples fell to 4.3x EBITDA in 2025, down from a 6.7x peak in 2017. What 10 years of data tells us about the lower middle market.