Below is an overview of multiples based on enterprise value versus EBITDA:   

Multiples are significantly linked to sector and deal size.   

In almost 40% of deals, the selling party is asked for a vendor loan. Earnouts, where part of the acquisition price is paid after meeting future targets, is agreed in 36% of deals. An increase of 20% compared to the previous year.

An average of about four bids are lodged per deal.

Source: M&A Monitor 2023- Vlerick Business School