Epsilon Research

Software, data and analysis provider for the private company M&A, PE and valuation markets.
Editor of the EMAT transaction multiples database & ɛ M&A CRM Suite.

[Epsilon Research @researchepsilon]

📈 Q1 2026 #ArgosIndex® out: European #SME acquisition prices recover to 8.6× EBITDA, after a sustained downward trend that had brought the index to its lowest level in over a decade.
PE funds: 10.0× ↑ | Strategic buyers: 7.8× → | Sub-7× deals down to 22% | M&A volumes -4% vs Q4 but still+30% vs Q1 2025
Not a broad recovery, but a selective rebound.
🔎 https://t.co/rlglDJ3qu2
#Valuation #PrivateEquity #MidMarket #Eurozone #LBO #CorporateFinance

[Epsilon Research @researchepsilon]

📊 Despite geopolitical turmoil, mid-market M&A rebounded strongly in H2 2025 — deal volumes up 30% vs H1.
Are we at a market bottom? The Q4 2025 #ArgosIndex® dropped to 8.3× EBITDA, its lowest since 2014.
Q1 2026 edition out on May 20 — stay tuned.
🔎 https://t.co/rlglDJ3qu2
#Valuation #PrivateEquity #MidMarket #CorporateFinance #Eurozone #LBO

[Epsilon Research @researchepsilon]

📉 The Q3 2025 #ArgosIndex®, carried out by #EpsilonResearch and tracking #Acquisition prices for European #SMEs, drops to 8.7× EBITDA, the lowest level since 2017.
🔍 Full release on https://t.co/LhJomblDg2

#Valuation #Mergers #PrivateEquity #MidMarket #CorporateFinance

[Epsilon Research @researchepsilon]

The Q1 2023 #ArgosIndex® #midmarket was published by #EpsilonResearch & Argos Wityu: acquisition prices of unlisted European #SMEs continued their slow decline to 9.7x EBITDA, driven by lower activity in the M&A market - Detailed analysis: https://t.co/0593tl9GcE

[Transeo, Community of Experts in SME transmission @Transeo_asso]

#TSS2023: Meet the speakers
CEO of @researchepsilon Grégoire Buisson will discuss the story of valuation multiples through years and give the main trends and insights.
🗓️ 13 June 2023
📌 Van Der Valk Hotel Charleroi Airport
👉 Register now: https://t.co/zWLIPNa4FG

#Transeo

[Epsilon Research @researchepsilon]

The Q1 2022 #ArgosIndex® #midmarket was published by #EpsilonResearch & Argos Wityu: acquisition prices of unlisted European #SMEs climbed back to 10.6x EBITDA, buoyed by the multiples paid by #PE funds - Detailed analysis: https://t.co/0593tl9GcE

[CRCC de Paris @CRCCParis]

La commission #Innovation a développé un #partenariat entre la #CRCCParis et @researchepsilon qui vous permet d'accéder à la #basededonnées transactionnelles #EMAT à des prix préférentiels.

📲 Je découvre les offres : https://t.co/5KzYJb2KJM
⛔ Réservé aux membres de la #CRCC.

[Epsilon Research @researchepsilon]

The Q3 2021 #ArgosIndex® #midmarket was published by #EpsilonResearch & Argos Wityu: after a series of record highs over the last 3 quarters, the Index consolidated to 11.0x EBITDA, as prices paid by #PE funds dropped - Detailed analysis: https://t.co/0593tl9GcE

#valuation #SMEs

[Epsilon Research @researchepsilon]

[The #ArgosIndex]
The 2020Q3 Argos Index mid-market was published by #EpsilonResearch & Argos Wityu: acquisition prices of #Eurozone SMEs are back to 10.1x EBITDA, almost as high as it was prior to the Covid-19 crisis - See detailed analysis: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

2020Q1 Argos Index published by #EpsilonResearch & Argos Wityu: acquisition prices of #Eurozone SMEs are down 10% to 9.3x EBITDA, after a record high of 10.3x in Q4. The impact of the Covid-19 crisis is still limited at this stage- See detailed analysis: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

2019Q3 Argos Index published by #EpsilonResearch & Argos Wityu: acquisition prices of private #Eurozone SMEs still at historic high of 10.1x EBITDA, increasing the gap with listed mid-market companies (multiple of 8.4x EBITDA) - See detailed analysis: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

2019Q2 Argos Index published by #EpsilonResearch & Argos Wityu: acquisition prices of private #Eurozone SMEs remain stable at a historic high of 10x EBITDA, despite the slowing mid-market M&A activity - See detailed analysis: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

2019Q1 Argos Index published by #EpsilonResearch & Argos Wityu: acquisition prices of #Eurozone SMEs has stabilized at 10.1x EBITDA, its historical record, pushed by the continued increase in multiples paid by strategic buyers - See detailed analysis: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

2018Q4 Argos Index published by #EpsilonResearch: acquisition prices of private #Eurozone mid-market companies reached a record high level, at 10.1x EBITDA - See detailed analysis: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

2018Q3 Argos Index published by #EpsilonResearch: acquisition prices of #Eurozone SMEs stabilized at record high level, at 9.8x EBITDA - See detailed analysis: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

A l'occasion de la sortie du Baromètre CNCFA EPSILON 2018 de la Transmission de PME...

[CNCFA @CNCFA_FRANCE]

J-20. Table ronde #CNCFA " Loi Pacte / Comment débloquer la transmission des #PME en France ? Découvrez le programme : https://t.co/a4eipU4QIA Inscrivez vous https://t.co/RghuQdPLl7

[Epsilon Research @researchepsilon]

2018Q2 Argos Index published by #EpsilonResearch: price of private #Eurozone mid-market companies reached a record level at 9.9x EBITDA: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

2018Q1 Argos Index published by #EpsilonResearch: price of private #Eurozone mid-market companies hit new record level at 9.5x EBITDA: https://t.co/0593tl9GcE

[Epsilon Research @researchepsilon]

L'Indice Argos Q3 2017, publié par #EpsilonResearch, à la une d'Option Finance: https://t.co/radrIWuf4J

[Option Finance @Option_Finance]

A la une d' #OptionFinance cette semaine - M&A et #privateequity - Les multiples s’envolent https://t.co/1S3LwQTzVE