The DACH M&A Monitor confirms our valuation discipline

We have just reviewed the latest Dealsuite M&A Monitor for the DACH region (H1 2025). The findings validate our target valuation range of 4–6x EBITDA and confirm that we continue to see attractive opportunities within the SME segment.

The report also illustrates that certain sectors are currently trading at significantly higher multiples — levels that, in our view, will only be sustainable if supported by accelerated growth trajectories and, most importantly within our investment logic, strong cash-flow conversion.

In addition, the study underlines the value of scale-driven multiple expansion, reinforcing our thesis that growing smaller companies is rewarded not only through higher earnings but also through a disproportionately larger uplift in valuations.