Acquiring from another Searcher

April 22, 2025
by a searcher from Temple University - The Fox School of Business in Philadelphia, PA, USA
I have come across a deal that was acquired 5 years ago by another searcher. It seems like they have improved gross margins on the business and added some tech, but no material increase in revenue. Recast EBITDA is ~$1m and margins are > 20%.
I would like to pay 4x or less, though they are likely looking at 6x plus.
What would you pay and would you buy from another searcher?
from Northwestern University in Chicago, IL, USA
from University of Pennsylvania