Leveraged Loan Insight & Analysis – 4/24/2023

Middle market LBO purchase price multiples declined in 1Q23

Chart

Middle market LBO purchase price multiples declined from 12.3 times in 2022 to 11.4 times in 1Q23, the lowest level since 3Q20. While purchase price multiples declined, the equity multiple was only down minimally, to 7.3 times, from 7.4 times in 2022.