The Argos Mid-Market Index reached a record level in the 2nd quarter at 9.9x EBITDA

The Argos Mid-Market Index reached a record level in the 2nd quarter at 9.9x EBITDA

The Argos Mid-Market Index reached a record level in the 2nd quarter at 9.9x EBITDA green_squares


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The Argos Mid-Market Index continues to grow in the second quarter, with an increase of 4.2% to 9.9x EBITDA, its highest level since 2004.

The increase is driven by the Lower Mid- Market (+4.3%), the multiples of the Upper Mid-Market have been stable since the first quarter of 2017 at the very high level of more than 10x EBITDA.

 

Prices paid by private equity funds as well as trade buyers are at record levels.

 

About Argos Wityu

Argos Wityu is an independent European private equity group with offices in Paris, Milan, Luxembourg, Frankfurt,  Brussels and Geneva. Since its creation in 1989, Argos Wityu has carried out more than 75 transactions focusing on management buy-outs and buy-ins in small and medium companies. Argos Wityu typically takes majority stakes ranging from €10m to €60m in companies with revenues of €20m to €400m.

With €960m under management, the firm has developed a track record of unusual, complex and off market transactions where the firm’s combination of local presence and international experience is able to add value to the small and medium-sized businesses it invests in.

About Epsilon Research

Epsilon Research developed the first online platform for the management of non-quoted M&A transactions, aimed at professionals: M&A advisers, private equity funds, valuators, corporates. The Epsilon Platform includes data, analysis reports, software tools and services essential to private company valuation / deal management:

(1) EMAT, the largest database of European private company transaction multiples, with detailed analysis of 6,000+ M&A deals, ranging from €1m to €500m in value, covering all industry sectors; (2) Indices and studies published regularly by Epsilon, such as the Argos Index; (3) Cloud-based software for M&A contacts and project management (“M&A CRM Suite”); and for valuation projects (comparables, private equity fund portfolios).

About the Argos Mid-Market Index

The Argos Mid-Market Index measures the evolution of European private Mid-Market valuations. Based on the median of historical EV/EBITDA multiples, on a six-month rolling basis, it is carried out by Argos Wityu and Epsilon Research, and published every three months. The transaction sample fulfils the following criteria:

  • Mid-Market companies (equity value between €15m and €500m),
  • Target based in a euro zone country,
  • Acquisition of a majority stake,
  • Specific industries excluded (financial services, real estate, high-tech).

Next Argos Mid-Market Index: Monday 19 November 2018

 Argos Wityu Contacts : Karel Kroupa

Press : Violaine Charpentier, vch@argos.fund, Tél. +33 1 53 67 20 50

 Epsilon Research Contact : Grégoire BUISSON, gregoire.buisson@epsilon-research.com, Tél. +33 1 47 70 30 24

Download the Argos Mid-Market Index

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