European median PE buyout EV/EBITDA multiples through the second quarter of 2024 have increased to 12.1x from 10.2x in 2023, according to the “European Private Market Update Q2 2024” from VRC. But the report notes that “slower consumer and corporate spending outlook and the much higher cost of borrowing is clearly negatively impacting growth forecasts and valuation multiples.” In terms of the rest of 2024, “higher public-market valuations and lower expected borrowing costs should continue the momentum from 2023 with higher deal volumes and higher valuations,” the report says, which has a great deal more information and insights into the European private markets.