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Average multiples remain stable at 10.2x in Q1

Multiples Heatmap in association with Clearwater International
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European multiples averaged 10.2x in the first quarter of 2017, in line with the 2016 average but down from the 10.6x level seen in Q4 2016, according to the latest unquote" and Clearwater Multiples Heatmap Analysis.

The Benelux region saw the highest average valuations during the quarter at an average 11.8x, driven by high multiples in the technology, media and telecommunications (TMT) sector. This marked a significant increase on the 10x figure witnessed in Q4 2016.

The UK & Ireland saw the lowest valuations, with private equity houses paying an average of 9.5x EBITDA, down from 10.7x in Q4 2017.

Businesses in the financial services sector commanded the highest valuations across Europe as a whole, with assets priced at 11.9x EBITDA, up from 11.1x in the previous quarter. Multiples in the TMT sector were the second highest at 10.4x, though this was considerably below the 12.6x figure seen in Q4 2016.

Click here to read the unquote" and Clearwater Multiples Heatmap Analysis overview for Q1 2017.

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