Financial Advisors Committee

ABI Committee News

Market Conditions for M&Amp;A Transactions Are the Best Since 1999: Exhibit 1

Sales of U.S. Companies

Median multiple in sale of firms with less than $100M in revenue
Category 2004 2003 2002
Service, non-infotech 6.2 4.6 0.0
Service, infotech 7.6 7.0 0.0
High-tech, proprietary mfg. 6.3 8.0 4.4
High-tech, nonproprietary mfg. 8.7 5.5 7.2
Distribution 6.3 5.0 4.8
Proprietary industrial mfg. 6.9 6.0 5.3
Proprietary consumer mfg. 5.1 5.7 5.6
Nonproprietary manufacturers 6.3 5.4 4.7