BVWire—UK follows a number of UK and European transaction indices to track investment valuations and deal multiples. Usually, despite the daily financial crises reported by the media, the multiples reflect longer-term trends—in keeping with business valuation standards. This is true for the new Q4 2022 Mid-Market Argos Index®, measuring the level of private midmarket company valuations every quarter in the eurozone. Though the big-name investment banks have generally declared 2022 to be a disaster, from a valuation point of view, little changed in the fundamental economics of SME assets. The index showed a limited decline to 9.9x EBITDA despite turbulent market conditions.

Carried out since 2006 by Epsilon Research for Argos Soditic, the index is calculated based on the information contained in the Epsilon Multiple Analysis Tool.