Anyone Else Observing Multiples Tick Up?

May 16, 2025
by a searcher from Ivey Business School at Western University in Toronto, ON, Canada
Hi everyone,
Excited to join the Searchfunder community. I’m a self-funded searcher based in Ontario with 20+ years of experience operating businesses in facilities management and property services. I’m currently pursuing acquisition opportunities in the lower middle market, in Canada.
One thing we've noticed: valuation multiples for service-based businesses ($1.5M–$3M EBITDA) seem to be ticking up slightly compared to last year—especially for assets with recurring revenue and low capex. Curious if others are seeing the same in your searches or deals?
Appreciate any insights, and I’m looking forward to connecting with fellow searchers, investors, and operators.
from University of British Columbia in Vancouver, BC, Canada
from Massachusetts Institute of Technology in Apex, NC, USA