2017: Quarterly average multiples by deal size

Multiples Heatmap 2017 Review Deal Size
  • These charts analyse the quarterly multiples by deal size for the year ending 31stDecember 2017.
  • In general, as in 2016 and as expected, larger transactions have seen higher average multiples in 2017 than smaller transactions.
  • The most significant annual multiple increase was recorded for deals with EVs between €500m and €1bn. This range saw an annual multiples increase of 1.3 to 11.6x and was mostly driven by high multiples in the first half of the year in Financial and Business Services sectors.
  • Deals between €100m and €250m have decreased in value in 2017 compared to 2016. French deals in the Industrial and Chemicals sector had the highest impact on the decrease in prices in this deal range.
  • “Mega deals” (€1bn+) multiples have decreased in Q4 2017 following exceptionally high levels in Q2 and Q3, when prices were at the highest level recorded since Q1 2014. Annual average price for €1bn+ deals exceeded the multiples paid in the previous year.
  • Deals sub €100m have seen stable multiples through the year, fluctuating around their annual average level.
  • Highest price volatility has been seen in the €250m and €500m deal range.
Multiples Heatmap 2017 Review Quarterly Deal Size
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