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Business Valuation, Recapitalization, Selling Your Business

Debt Capital Market Update - Q2 2019

TKO Miller Debt Capital Market Analysis 

  • Leverage multiples remain at peak levels in M&A transactions due to an aggressive lending environment
  • Leverage multiples, as measured by Total Debt / EBITDA, increased from 3.9x in 2018 to 4.1x in 2019 (as depicted in the graph, below & left)
  • Transactions continue to see increasing equity contributions in response to rising purchase price multiples compared to 2018 levels (as depicted in the graph, below & right)
  • Leverage conditions are expected to remain highly supportive over the next 9-12 months, but trade tariffs with China and Europe, a global economic downturn, or uncertain political conditions are capable of shifting conditions back to lower, more historical levels

Total Debt/EBITDA Multiples 

Steve Yahnke
By Steve Yahnke
on Aug 6, 2019 7:05:00 AM
   
Debt Capital Market Update - Q2 2019

TKO Miller Debt Capital Market Analysis 

  • Leverage multiples remain at peak levels in M&A transactions due to an aggressive...
Steve Yahnke
By Steve Yahnke
on Aug 6, 2019 7:05:00 AM
Debt Capital Market Update - Q1 2019

TKO Miller Debt Capital Market Analysis 

  • Leverage multiples remain at peak levels in M&A transactions due to an aggressive...
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