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The Seller’s Guide to Understanding EBITDA
EBITDA is one of the most closely examined metrics in the M&A process. During negotiations in an M&A deal, buyers…
What’s a fair price for advice on acquisitions of small and medium-sized companies (SMBs)?
It’s hard to get a data-driven read on many aspects of the sprawling lower middle market, especially on a topic as sensitive as M&A advisory fees. Enter Axial and Firmex, which have published the first post-Covid study of private M&A fees.
Axial and Firmex pooled their collective M&A advisory customer bases and executed an anonymous 32 question survey that dives into the secretive world of M&A advisory pricing, exploring retainer pricing, fee structure, fee minimums, reimbursables, and more.
The survey confirms that the current market for lower middle-market M&A transactions is extremely strong. Fee levels have held steady and, in some cases, may be increasing. Only 8% of the surveyed M&A advisors indicated that they needed to reduce fees because of the pandemic.
A few additional data highlights:
The full report offers insights into many other provisions found in typical middle-market engagement letters.
You can also access the report directly from the Firmex website by clicking here.