Transaction Case Studies

A searchable database of real-world M&A transactions. Each case study shows the headline deal metrics and the valuation lessons relevant to SME owners. Transactions are typically larger than the $1–50m SME benchmark and are shown for context, not direct comparison.

60 transactions shown

Kvadrant Consulting → Elixirr International

2026 · Management Consulting

~5.4×
£12.4m Initial ConsiderationView Case Study

Splendor Plant → Seafire

2026 · Plant Nursery

5.3×
SEK 135m Purchase PriceView Case Study

OGM Moulding → SP Group

2026 · Plastics & Polymer Processing

~4.1×
£18.0m Purchase PriceView Case Study

SheerLuxe → Future plc

2026 · Media Publishing

7.8×
£39.9m Initial Purchase PriceView Case Study

Funky Pigeon → Card Factory

2026 · E-Commerce Business

~5.1×
£25.7m Purchase PriceView Case Study

D-Marin → InfraVia Capital Partners

2026 · Marinas

~15× (reported estimates)
€1bn+ EVView Case Study

Nasty Gal → WSG Brands (White Space Group New York)

2026 · Fashion & Apparel Brand

~30×
$16m (~£11.9m) Purchase PriceView Case Study

Squarebird → The Smarter Web Company

2026 · Digital Marketing Agency

3.0×
£1.35m (effective consideration) EVView Case Study

BrewDog → Tilray Brands

2026 · Brewing & Craft Beer

~5.5×–7.4×
£33m (~US$44.1m) Purchase PriceView Case Study

DIY Kitchens → Howden Joinery Group

2026 · Furniture Manufacturing

~8.5×
£390m Enterprise ValueView Case Study

Fox Crypto → CR Group Nordic

2025 · Cybersecurity

16.4×
£65.6m Enterprise ValueView Case Study

Interhome → HomeToGo SE

2025 · Holiday Let / Vacation Rental Management Business

6.5×
~€160m (initial, CHF150m) EVView Case Study

Baker Tilly South-East Europe → MHA plc

2025 · Accounting & Professional Services

6.2×
~€24m (max consideration) EVView Case Study

Science in Sport → bd-capital (Einstein Bidco)

2025 · Sports Nutrition & Supplements Business

~23.1×
~£97.8m EVView Case Study

Carolina Stone Products → Capstone Holding Corp.

2025 · Stone & Tile Business

4.7×–5.2×
$3.9m–$4.7m Reported Purchase PriceView Case Study

Disdero Lumber → BlueLinx Holdings

2025 · Building Materials Distribution

~7×
~$96m (~$88m net of tax benefits) Purchase PriceView Case Study

E3 Advisory → Ricardo plc

2025 · Management Consulting

8.6×
A$119m Implied Enterprise ValueView Case Study

Full Circle Group → Renew Holdings plc

2024 · Renewable Energy O&M Services

~11.1×
€60.0m EVView Case Study

Hibbett, Inc. → JD Sports Fashion plc

2024 · Fashion & Apparel Retail Business

~6.2×
~$1.109bn Enterprise ValueView Case Study

AceOdds → Better Collective A/S

2024 · Affiliate Marketing Business

~4.0×

Peters Surgical → Advanced Medical Solutions Group

2024 · Medical Device Business

~9.7×
€132.5m EVView Case Study

Lok'nStore → Shurgard Self Storage

2024 · Self-Storage Business

~27.1×
~£408m Indicative Enterprise ValueView Case Study

Fleet Complete → Powerfleet

2024 · Telematics & Connected Vehicle Business

8.0×
~$200m (announced) Announced Transaction ValueView Case Study

OWYN → The Simply Good Foods Company

2024 · Sports Nutrition & Supplements

~13.3×

Pro Tiler → Topps Tiles plc

2024 · Stone & Tile Business

5.1×
£14.0m Total Acquisition CostView Case Study

Hypothesis Group → Elixirr International

2024 · Management Consulting

7.3×
US$37.3m Initial ConsiderationView Case Study

Carrier Global Access Solutions → Honeywell International Inc.

2024 · Smart Building Technology

~13×
~US$4.95bn Announced Purchase PriceView Case Study

Accesspoint Technologies → iomart Group plc

2023 · IT Managed Services / Managed Hosting

5.6×
£4.5m (initial consideration) EVView Case Study

Scott Dunn → Flight Centre Travel Group

2023 · Tour Operator

~9.6×

Playmaker Capital → Better Collective A/S

2023 · Media & Publishing Business

11.7×
€176m EVView Case Study

Mimi's Rock Corp. → FitLife Brands

2023 · Sports Nutrition & Supplements

10.6×
~$17.6m EVView Case Study

Chiltern Timber Supplies → Lords Group Trading plc

2023 · Building Materials Distribution

3.2×
£1.175m initial (£1.65m max.) Initial ConsiderationView Case Study

Beacon Roofing → Brickability Group

2022 · Roofing Contractor

~5.9×
£6.5m ConsiderationView Case Study

Forge Recycling → Biffa

2022 · Waste Management

6.2×
£18.6m Initial ConsiderationView Case Study

Barburrito → The Restaurant Group plc

2022 · Restaurants / Fast Casual

4.4×
£7m Acquisition ConsiderationView Case Study

International Wholesale Tile → Victoria plc

2022 · Stone & Tile Business

~4.1×
$28.5m Announced ConsiderationView Case Study

Vandermeer Forest Products → BlueLinx Holdings

2022 · Building Materials Distribution

3.3×
$63.4m (excl. real estate) Business Purchase PriceView Case Study

ET Clay Products → Brickability Group plc

2022 · Building Materials Distribution

3.9×
£11.6m (max. consideration) Maximum ConsiderationView Case Study

Nutrawise (youtheory) → Jamieson Wellness Inc.

2022 · Sports Nutrition & Supplements

10.2×
US$210m (initial EV) Initial Enterprise ValueView Case Study

Concrete Construction Services of Arizona (CCS) → Sterling Infrastructure, Inc.

2022 · Concrete Contractor

~2.5×–3.5×
~$22m Purchase PriceView Case Study

Smaato → Media and Games Invest

2021 · SaaS / AdTech

~10.7×
~€140m EVView Case Study

Ludlow Wealth Management → Mattioli Woods

2021 · Financial Planning & Wealth Management

10.9×
£36.1m EVView Case Study

WholesalePet.com → EMERGE Commerce

2021 · B2B SaaS Marketplace

5.7×
US$16m Guaranteed ConsiderationView Case Study

Brighter Foods → THG

2021 · Food Manufacturing

11.7×
£43m ValuationView Case Study

Ginop Sales, Inc. → Alta Equipment Group Inc.

2021 · Agricultural Machinery Dealer

~4.4×
~$28.5m EVView Case Study

Fidelis Contract Services → REACT Group plc

2021 · Commercial Cleaning & Facilities Services

4.75×
£4.75m (max consideration) Maximum ConsiderationView Case Study

Visual Art Media → Ocean Outdoor

2019 · Outdoor Advertising

~10.0×
~€63m EVView Case Study

Spire Digital → Kin + Carta

2019 · Software Development Agency

~8×
~$14.8m (initial) EVView Case Study

GROWLr → The Meet Group

2019 · Mobile App Business

~4.5×
~$13.8m EVView Case Study

Fuller's Beer Business → Asahi Europe

2019 · Brewing & Craft Beer

23.6×

Blue Buffalo → General Mills

2018 · Pet Food Manufacturing

~25×
~$8.0bn EVView Case Study

William Martin → Marlowe plc

2018 · Health & Safety Consultancy

~13.0×
£30.0m EVView Case Study

Private Dental Practice (North London) → Mid-sized dental group (name not disclosed)

2018 · Dental Practices

~7.8×
£3.70m Sale PriceView Case Study

Elvis Communications → Next Fifteen Communications Group plc

2017 · Creative & Design Agency

5.5×

Redfern Travel → Corporate Travel Management (CTM)

2017 · Travel Agency

4.5×
£40.0m EVView Case Study

Newton Fallowell → Belvoir Lettings plc

2015 · Estate Agent Business

~6.1×
£3.954m EVView Case Study

Office & General Group → Tenon Facility Management (Mortice Limited)

2015 · Facilities Management

~5.1×
£6.43m Purchase ConsiderationView Case Study

Canada Bread Company → Grupo Bimbo

2014 · Bakery

9.3×
C$1.83bn EVView Case Study

MoneySavingExpert.com → MoneySupermarket.com Group PLC

2012 · Affiliate Marketing Business

~4.7×
£60.0m (initial) EVView Case Study

Tottel Publishing → Bloomsbury Publishing

2009 · Book Publishing

~8.4×
£9.96m Purchase PriceView Case Study

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