Since 1989, Murray Devine has remained true to its original founding principle of valuation and valuation only. Focus, objectivity and an extraordinary responsiveness to client needs – these are the qualities that make us the valuation firm of choice for many of the most respected private equity and venture capital firms, hedge funds, banks, and corporations in the country.
Is Shrinking Deal Volume a Leading Indicator for Multiples?
The Q1 numbers are in. Based on valuations, alone, dealmakers appear bullish. M&A multiples are up, and PE valuations involving the largest companies have only gotten richer in the first quarter. Yet buyers also seem to be showing more caution based on a precipitous drop in the number of transactions – hitting a six-year trough — and the total value of domestic PE activity, which is off its pace by more than $65 billion compared to the same period last year.
Whether this is just a temporary pause following a busy fourth quarter or indicative of a waning appetite to pay top prices remains to be seen.