466
Deals in 2025
$4.3B
Disclosed Value
+20%
YoY Deal Volume
9.0x
Median EBITDA Multiple

Recent Transactions

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Active Acquirers

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Valuation Reference

Source: Drake Star 2025, Solganick 2025, M&A Signal tracker (83 deals)
Segment EV / EBITDA Notes
Small MSPs (<$1M EBITDA) 5–8x Halski ~5.5x; PE floor ~7x
Mid-market bolt-ons 7–10x Median 9.0x; Thrive/Evergreen 8–9x
MSSP / Cybersecurity 10–12x Entara, Abacode, Sekuro est.
Financial Services MSP 12–15x Agio, RFA (hedge fund / PE clients)
Large Platforms (>$100M) 11–14x WWT/Softchoice 13.2x; Presidio/Ergo ~10x
Geography vs. Median Notes
New York / Tri-State +1.0–1.5x Highest acquirer density; fin. services premium
San Francisco / West Coast +0.5–1.0x Tech clients, higher ARR quality; strong PE
Boston / Northeast +0.5–1.0x Dense roll-up activity; healthcare + fin. services
Southeast ±0–0.5x Active market; Thrive, Ntiva, Logically expanding
Midwest ±0x At median; strong manufacturing vertical
Texas / Southwest –0.25–0.5x Growing interest; thinner buyer competition
International (UK, Canada, ANZ) –0.5–1.0x Currency + cross-border complexity; UK most active

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Market Commentary

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