In the latest quarter, deal multiples in transactions below $50 million increased. Deals in the $10-$25 million range experienced a 0.7x increase to 6.6x TEV/EBITDA, while those in the $25-$50 million range rose by 0.1x to 7.0x TEV/EBITDA.

However, there was a multiples compression for deals in the $50-$250 million range. Transactions between $50-$100 million decreased by a full turn from 8.7x to 7.7x TEV/EBITDA, and those between $100-$250 million also declined by a full turn from 11.1x to 10.1x TEV/EBITDA.