When looking at the BVR for specific industries, what makes a business fit into the different quartiles to price negotiation? This is for all industries / PE as well - not just for SMB Acquisition so it is hard to set... I would say:

>$500K EBITDA ~ 25%

$500K-$2M EBITDA - 50%

2-5M - 75%

5M+ ...

Thoughts?