Q4'25 Market Update: What Founders Need to Know Before Selling скачать в хорошем качестве

Q4'25 Market Update: What Founders Need to Know Before Selling

As 2025 comes to a close, the M&A market remains active—but highly selective. Private equity continues to dominate deal activity, controlling more capital than strategic buyers and increasingly setting the terms of most transactions. If you are a founder considering an exit, understanding how buyers are behaving right now is critical to timing, preparation, and outcomes. Private equity firms are largely pursuing the same deal profile: businesses with recurring or reoccurring revenue, limited customer and supplier concentration, minimal cyclicality, and operations that do not rely heavily on the founder. While profitability matters, predictability and durability matter more. Buyers are prioritizing consistency over short-term growth spikes. The bar for scale has also moved. Many lower middle-market firms now focus on companies generating roughly $3–5 million in EBITDA. Businesses below that range can still transact, but are more likely to be positioned as add-on acquisitions or attract search funds and independent sponsors rather than platform buyers. Preparation is no longer optional. CPA-prepared financials are now expected by most buyers, including family offices and independent sponsors. Entering a process without professionalized financials often slows diligence and weakens negotiating leverage. Reducing customer or supplier concentration before going to market can materially improve valuation and deal certainty. Certain sectors continue to attract strong interest, including professional services, field services, property management, and select healthcare services. Debt capital remains widely available, SBA financing is active at the lower end of the market, and regulatory headwinds remain limited for transactions under $500 million. Deal timelines remain consistent, typically taking four to nine months from launch to close. For companies that are well prepared and marketed competitively, sellers may be able to shorten diligence periods, improve pricing, and secure better post-close terms. This market update provides a realistic view of what buyers are looking for, where opportunities still exist, and how founders should think about positioning their businesses as 2025 comes to an end.