All,
I'm looking for data in regards to multiple expansion of exited search acquired businesses. Typically I model no multiple expansion on the base case and 1x upward on the upside case. I've seen others mark this up substantially (2-3x multiple expansion for non-technology businesses) and want to compare these models with actual data.
I reviewed the most recent Stanford Primer but couldn't find data on this topic. Any insight -- with specific successful exit multiple expansions would be helpful. So far I have an n of 1 that is around 1.25x expansion.
Thank you in advance!
Average Multiple Expansion for Search Acquired Businesses?

by a searcher from Washington and Lee University
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Anyone claiming they can realize multiple expansion has a heavy burden of proof to their IC/potential investors. Even my upside cases don't include any.