Private Equity Fire & Life Safety and Security M&A: The 2026 Consolidation Report, Named Platforms, and Multiples

Methodology and data sources

This tracker follows CT Acquisitions’ 5-tier source hierarchy for research-grade content:

1. Tier 1, Press releases from sponsors, platforms, and their advisors (PR Newswire, GlobeNewswire, BusinessWire, sponsor.com/news, platform.com/news)
2. Tier 2, SEC filings for public-company comparables (APi Group NYSE: APG)
3. Tier 3, Sponsor portfolio pages (current ownership, not historical)
4. Tier 4, Trade press (Security Systems News, SDM Magazine, Security Sales & Integration)
5. Tier 5, M&A research publishers (Capstone Partners Security M&A Update, Breakwater M&A, Peak Business Valuation, PE Hub, PrivSource)

Industry-data tier (multiples, market size, fragmentation): IBISWorld (Fire Protection and Security System Installation Contractors), Mordor Intelligence Fire Safety Systems Market, GMInsights Fire and Life Safety Protection Services Market, Breakwater M&A Fire Alarm & Life Safety Valuation Multiples 2026, Peak Business Valuation Security Alarm Multiples, Capstone Partners Security Solutions M&A Update. NAICS classification primarily 561621 (Security Systems Services) and 238290 (Other Building Equipment Contractors).

Verification window: All sponsor / platform attributions verified May 2026. The FLS / security space had exceptional 2025 deal activity (Pye-Barker alone closed 57 acquisitions). Several sponsor transitions are recent or pending (Pye-Barker ADIA/GIC minority January 2025; Summit BlackRock LTPC → BDT & MSD announced 2025, pending close; Sciens Huron → Carlyle); the per-platform sponsor structure is current as of May 2026 but transactions are continuous.

Inclusion criteria for “active platform”: (a) a verifiable current institutional sponsor or publicly traded ultimate parent; (b) at least 25 U.S. locations or $100M+ revenue; and (c) at least one verified add-on acquisition in the last 18 months or a stated active-acquirer posture.

The 2026 fire & life safety PE landscape: why now

Four structural forces make FLS / security the cleanest recurring-revenue roll-up thesis in the building-services category:

Buyers competing for these fire-and-life-safety platforms can join through the vetted-buyer partnership and access direct-to-owner deal flow.

• Code-mandated recurring inspection revenue. NFPA standards require regular inspection, testing, and maintenance of fire alarm, sprinkler, and suppression systems (fire sprinkler systems undergo quarterly and yearly inspections; NFPA guidelines suggest semi-annual inspections for fire suppression systems). This is non-discretionary, regulation-driven recurring revenue that PE buyers underwrite at premium multiples. The 2025 edition of NFPA 72 mandates cloud-connected monitoring for commercial panels, prompting a legacy-upgrade cycle.
• Recurring monthly revenue (RMR) on monitoring. Alarm monitoring produces RMR that trades at 30x-50x RMR (a valuation convention specific to monitoring). Operators with a meaningful monitoring book command structural premiums over project-only installers.
• Extreme fragmentation. The U.S. Fire Protection and Security System Installation Contractors industry is highly fragmented, with no company holding greater than 5% individual market share at the contractor-installation level (per IBISWorld). Even APi Group, the largest player, holds roughly 15%+ of the broader market, and the top 5 (Honeywell, Siemens, Johnson Controls, Cintas, Pye-Barker) collectively hold only ~20%. The remaining ~80% is the consolidation runway.
• Surging deal volume. Fire & Life Safety M&A deal activity jumped approximately 66.7% year-over-year in 2025 to roughly 125 transactions. Source: Breakwater M&A Fire Alarm & Life Safety Valuation Multiples 2026.

Active platforms: profiles of 5 fire & life safety / security operators

Apex tier (national platforms, 100+ locations or $1B+ revenue)

APi Group (NYSE: APG), Public company. Scale: approximately $7.0B FY2025 net revenue, growing inspection / service / monitoring revenue mix; ~15%+ market-share leader. Acquired the Chubb Fire & Security business from Carrier Global for an enterprise value of $3.1B in January 2022; continued a multi-year Chubb restructuring program (estimated total cost ~$125M by end of 2025) to optimize operating margins. APi’s strategic shift toward higher-margin inspection and monitoring services is the public-market template for the entire FLS consolidation thesis. Sources: Carrier: APi completes Chubb Fire & Security acquisition | APi Group (NYSE: APG) financials.

Pye-Barker Fire & Safety, Sponsors: Altas Partners (majority) + Leonard Green & Partners (meaningful stake, partnered ~2020) + Abu Dhabi Investment Authority (ADIA) and GIC (minority stakes completed January 2025); Carousel Capital completed a majority exit (remaining minority) after partnering since 2016. Scale: the most aggressive FLS consolidator. 57 acquisitions in 2025; 9,000 team members across 47 states (including 2025 entrances into Hawaii and Arkansas); #4 on the SDM 100; 6-time Inc. 5000 honoree. Stated thesis: acquirer of choice for fire and life-safety services nationwide, with an employee-ownership program (“ALL In”). Sources: PR Newswire: Pye-Barker 57 acquisitions in 2025 | Pye-Barker corporate news | Altas Partners: ADIA + GIC minority investments (Jan 2025).

Summit Companies / SFP Holding, Sponsor: BDT & MSD Partners (majority acquisition announced 2025, expected to close Q4 2025) from BlackRock Long Term Private Capital (which had held majority since acquiring from CI Capital Partners in September 2021). Scale: 125+ locations across 37 states after the August 2025 acquisition of Performance Systems Integration (PSI, the leading Pacific Northwest FLS provider, formerly Riverside Company-backed). End-to-end FLS: design, installation, inspection, maintenance, monitoring, consulting. Sources: Summit Companies: acquisition by BDT & MSD Partners | Summit finalizes PSI acquisition (Aug 2025).

Growth tier (regional-to-national platforms, 25-100 locations)

Pavion, Sponsor: Wind Point Partners (since June 2020; approximately $6B AUM). Scale: 70+ U.S. locations and 23 countries; positioned as a global leader in fire, security, and integration. Acquisitions include Corbett Technology Solutions (CTSI, which launched as Pavion), RFI Enterprises, Integrated Security and Communications, Signet, Netronix, and AFA Protective Systems. Stronger security-integration weighting than the pure-FLS platforms. Sources: Pavion mergers & acquisitions page | Wind Point Partners: Pavion acquires Premier Security Solutions.

Sciens Building Solutions, Sponsor: Carlyle (majority investment, acquired from Huron Capital). Scale: 13+ acquisitions resulting in a greater-than-35x increase in revenue and EBITDA since formation; premier scaled national provider of mission-critical FLS services with strong Northeast, Florida, California, and Texas presence (10+ divisions). 2025-2026 activity includes Fire Security & Sound Systems (NY, January 2025) and Southern Fire Control (FL, January 2026, eighth Florida acquisition). Focus: fire detection, clean-agent fire suppression, maintenance for commercial / institutional / government facilities. Sources: Sciens Building Solutions corporate site | GlobeNewswire: Sciens acquires NY company (Jan 2025).

Acquisition velocity: what 2024-2026 tells us

Disclosed major FLS / security equity events 2021-2026:

• September 2021, BlackRock Long Term Private Capital acquires majority of Summit Companies from CI Capital Partners.
• January 2022, APi Group completes acquisition of Chubb Fire & Security from Carrier Global for $3.1B enterprise value.
• 2020-2024, Pavion (Wind Point Partners since June 2020) completes 12 acquisitions over a two-year window, expanding to 70+ U.S. locations and 23 countries.
• January 2025, ADIA and GIC complete acquisition of minority stakes in Pye-Barker, joining majority owners Altas Partners and Leonard Green & Partners.
• January 2025, Sciens Building Solutions (Carlyle) acquires Fire Security & Sound Systems in New York.
• August 21, 2025, Summit Fire & Security finalizes acquisition of Performance Systems Integration (PSI, formerly Riverside Company-backed), reaching 125+ locations across 37 states.
• 2025, BDT & MSD Partners agrees to acquire majority of Summit Companies from BlackRock LTPC (expected close Q4 2025).
• Full-year 2025, Pye-Barker closes 57 acquisitions, reaching 9,000 employees across 47 states.
• 2025, Fire & Life Safety M&A deal activity rises approximately 66.7% year-over-year to roughly 125 transactions.
• January 2026, Sciens acquires Southern Fire Control (FL), its eighth Florida acquisition.

Note on private equity disclosure norms: Most FLS / security platform transactions do not disclose enterprise value, EBITDA, or multiples. The APi / Chubb $3.1B figure is an exception (public-company disclosure). Sciens’s “35x revenue and EBITDA growth” is sponsor-disclosed growth, not a transaction multiple. Where ranges are quoted (4-5x project-only, 17-20x scaled platform), they reflect industry-data-tier sources, not specific named transactions.

Fire Protection and Security M&A in 2026: How the Deal Market Works

Fire protection and security M&A is one of the most active corners of facility services consolidation. A small number of well-funded platforms, led by Pye-Barker, are buying fire alarm, sprinkler, extinguisher, and security integration companies at a steady pace, folding local operators into national inspection-and-service networks. The value sits in recurring inspection contracts mandated by code, which is why these deals price above ordinary trades work and why the buyer pool keeps expanding.

Owners searching for “fire protection mergers and acquisitions” or “security and safety M&A” are asking two practical questions: who is buying, and what will they pay. The platform profiles above answer the first from public sources. The economics answer the second. What sets fire and life safety apart from most services roll-ups is the compliance backbone: fire alarms, sprinkler systems, and extinguishers carry legally required periodic inspections, so a book of service agreements produces contracted, recurring revenue a buyer can underwrite with confidence.

Deal structure follows the revenue mix. A company weighted toward recurring test-and-inspect and monitoring contracts trades at the top of the range, because that revenue renews on a code-driven schedule regardless of the construction cycle. A company weighted toward one-time installation and new-construction work trades lower, because that revenue is project-based and cyclical. Security integration adds another premium layer when recurring monitoring or managed-services revenue is attached. Two fire and life safety companies with identical top-line revenue can be valued turns apart depending on how much of that revenue is contracted and recurring.

For owners, the signal is clear. Fire protection and security M&A activity has not slowed, and the platforms consolidating the space are measured on how much capital they deploy, which means they need to keep acquiring. That structural pressure is why a well-run company with a strong recurring inspection base holds real negotiating power in 2026.

What a security and safety M&A advisor does

A security and safety M&A advisor stands between the owner and a professional acquirer. In this sector the acquirers are the platforms profiled above, and they buy companies every month. Most owners sell once. The advisor’s job is to close that experience gap.

The work breaks into five parts:

1. Valuation that reflects the revenue mix. Separate inspection, testing and maintenance contracts, monitoring RMR, service work and project installs, because buyers price each one differently, as the multiples section below shows.
2. A buyer list built for the business. Match the company to platforms whose footprint, service lines and size range fit, plus financial sponsors looking for a new platform, instead of contacting every name in the sector.
3. Diligence preparation. Organize inspection contract schedules, monitoring contracts and their assignment terms, technician certifications such as NICET, state fire alarm and sprinkler contractor licenses, and AHJ relationships before a buyer asks.
4. Negotiating the terms that move net proceeds. Headline price matters, but so do working capital targets, earnouts, rollover equity, holdbacks for monitoring account attrition and the owner’s post-close role.
5. Running diligence to closing. Keep the process on schedule, manage the quality of earnings review and stop late re-trades.

Advisor fit depends on size. Middle-market investment banks such as Houlihan Lokey, Raymond James and Baird run dedicated security and safety groups that focus on larger transactions. Owners of lower middle market fire protection, alarm and integration companies usually need an advisor who works deals of their size and knows the add-on buyers personally. Ask any advisor which platforms they have closed with, how they handle monitoring contract transfers, and how they are paid, in writing, before you sign.

Sell-Side vs Buy-Side: Who Represents Fire and Life Safety Owners in an Exit

Sell-side advisors work for the seller and are paid by the seller; buy-side advisors work for the acquirer and are paid by the acquirer. Owners searching for “security and safety M&A advisory” want a professional between them and the buyer during an exit. The model you choose decides who pays the fee and, as a result, whose interests the advisor is built around.

A conventional sell-side firm or business broker charges the seller a success fee, commonly 6% to 12% of the sale price, and runs a roughly nine-to-twelve-month marketed process. You get an advocate and competing bids. You also pay for it out of your proceeds, and a broker earning a percentage of any closed deal is not always aligned with holding out for the best one.

No fee to you on buy-side introductions; sell-side mandates are paid on success at closing. On a buy-side introduction, the acquiring platform retains and pays the advisor, so the fire and life safety owner pays no fee. It works in this market because the platforms tracked on this page are funded and actively acquiring inspection-and-service books, and they will pay to be introduced to a qualified target. The owner gets a direct path to those buyers. For the full process, valuation ranges, and timeline, read our guide on how to sell a fire alarm and life safety company.

Match the model to your goal. A broad auction across strategic and financial buyers, with a commission you accept as the price of reach, points to a traditional sell-side firm. No fee to you on buy-side introductions; sell-side mandates are paid on success at closing. The one path that costs you in every case is negotiating alone against a professional acquirer. Unadvised sellers give up value they never see.

Multiples and deal structure: what FLS / security owners should expect

EBITDA multiple ranges by recurring-revenue mix, scaled PE-backed platforms have traded far above project-only installers. Source: CT Acquisitions fire and life safety deal data.

Fire & life safety valuation is driven almost entirely by recurring-revenue mix (inspection contracts + monitoring RMR) versus project / installation revenue.

Project-only / small-operator tier

Multiple range: 3x to 5x EBITDA for project-heavy installers, typically $1M-$3M revenue.

Typical seller: owner-operator with mostly installation / project work and limited recurring inspection or monitoring book. Buyer pool: regional consolidators looking for tuck-ins, individual operators (often SBA-financed). The lower end reflects project-only installers with little recurring revenue; the same-size company with a healthy mix of recurring inspection contracts moves to 4x-6x. Source: Essential: Fire Protection Business Valuation | Peak Business Valuation: Security Alarm Multiples.

Recurring-mix / mid-market tier

Multiple range: 5x to 9x EBITDA for $5M-$20M revenue operators with strong recurring revenue and a real management team.

Typical seller: $5M-$20M revenue, meaningful inspection-contract and / or monitoring book (40%+ recurring), professional management beginning to develop. Buyer pool: the institutional platforms profiled above (Pye-Barker, Summit, Pavion, Sciens, APi) plus growth-stage PE looking for new platforms. A well-run fire protection business typically sells for 6x-9x EBITDA; project-only installers with little recurring revenue trade at 4x-5x. The difference between a project-heavy company and a service-rich one can be two to three full EBITDA turns, on a $1M-EBITDA business, a $2M-$3M gap in sale price.

Platform-eligible tier

Multiple range: 8x to 12x+ EBITDA for PE-ready platforms, with scaled platforms transacting as high as 17x-20x.

Typical seller: $20M+ revenue, multi-state footprint, high recurring-revenue mix (inspection + monitoring), professional CFO/CEO, scalable operating systems. Buyer pool: middle-market and upper-middle-market PE underwriting a new platform, plus the existing mega-platforms (Pye-Barker, Summit, APi, Sciens) targeting platform-level rather than tuck-in deals. Industry-data sources cite scaled PE-backed FLS platforms transacting as high as 17x-20x EBITDA on the strongest recurring-revenue, high-density operators. Source: Breakwater M&A Fire Alarm & Life Safety Multiples 2026 | Capstone Partners Security Solutions M&A Update.

The RMR convention (monitoring-specific)

Alarm-monitoring recurring monthly revenue (RMR) is valued on a separate convention: typically 30x-50x RMR for a fire-safety or security-monitoring book. An operator with a meaningful monitoring book is often valued on a blend of EBITDA multiple (for the service / installation business) plus an RMR multiple (for the monitoring book). Operators considering a sale should understand which convention a given buyer will apply to their monitoring revenue.

Acquisition criteria: what FLS / security platforms look for

• Recurring inspection-contract density. The single largest multiple-driver. Code-mandated inspection, testing, and maintenance (ITM) contracts produce predictable, regulation-protected recurring revenue. Operators with 40%+ recurring revenue command premiums.
• Monitoring RMR book. A monitoring book valued on the 30x-50x RMR convention can materially lift total enterprise value beyond the EBITDA-multiple valuation of the service business.
• Code-compliance and certification depth. NICET-certified technicians, NFPA-compliant ITM documentation, and a clean regulatory inspection record are diligence floors. The 2025 NFPA 72 cloud-connected-monitoring mandate creates both a legacy-upgrade revenue opportunity and a diligence checkpoint.
• Technician retention and certification pipeline. The NICET-certified-technician shortage is structural. Buyers underwrite the senior-technician bench and the apprenticeship / certification pipeline.
• Customer and end-market mix. Diversified commercial / institutional / government customer base; no single customer over 20% of revenue. Government and healthcare end-markets carry stickier compliance-driven demand.
• Geographic density and multi-state footprint. Route density drives inspection-technician utilization economics; multi-state footprint supports platform-tier multiples.
• Systems maturity. Field-service-management (BuildOps, ServiceTrade, FieldEdge for FLS), inspection-reporting software (Inspect Point, BuildOps), plus monitoring-platform integration with monthly close inside 15 days are institutional-buyer floors.

What this means for FLS / security owners considering an exit

Three operator-tier strategies, in order of typical exit value:

1. If you are a project-heavy installer ($1M-$3M revenue), your realistic exit is 3x-5x EBITDA. Pre-sale prep over 18-24 months focused on converting project relationships into recurring inspection contracts, building or buying a monitoring RMR book, achieving NICET certification depth, and modernizing inspection-reporting software can move you toward the 4x-6x recurring-mix range or open up institutional-buyer interest.
2. If you are a $5M-$20M recurring-mix operator, your realistic exit is 5x-9x EBITDA from the institutional platform set (Pye-Barker, Summit, Pavion, Sciens, APi) or growth-stage PE. The key levers between 5x and 9x are recurring-revenue percentage, monitoring RMR book size, NFPA / NICET compliance depth, and customer-concentration scrubbing. The difference of two to three EBITDA turns between a project-heavy and a service-rich operator is the single largest value lever in this category.
3. If you are platform-eligible ($20M+ revenue, multi-state, high recurring mix, professional management), your realistic exit is 8x-12x+ EBITDA from middle-market PE, with the strongest scaled platforms reaching 17x-20x and rollover equity for a meaningful second exit. With Pye-Barker (Altas / Leonard Green + ADIA / GIC), Summit (BlackRock LTPC → BDT & MSD pending), and Sciens (Huron → Carlyle) all showing active sponsor structures and recapitalization economics, the buyer landscape for platform-level deals is unusually deep. Sponsor fit and recurring-revenue quality, not headline multiple, are the most important variables.

CT Acquisitions works both sides of the table: sell side for owners, buy side for acquirers, plus exit planning. See the How to Sell a Fire Protection Business, How to Sell a Fire Alarm Company, How to Sell an Alarm Monitoring Company, and How to Sell a Security Integration Company guides for sell-side process detail, the Fire Sprinkler Business Valuation for tier-specific pricing, and the Owner’s Exit Checklist for the 18-24 month preparation framework.

Limitations of this analysis

• Most platform-level financial terms are private. The APi / Chubb $3.1B is the rare disclosed enterprise value (public-company transaction). Sciens’s 35x revenue / EBITDA growth is sponsor-disclosed cumulative growth, not a transaction multiple. The 17x-20x scaled-platform figure reflects industry-data-tier sources (Breakwater M&A, Capstone), not a specific named transaction.
• Industry-data tier multiples are aggregated. Breakwater M&A, Peak Business Valuation, and Capstone Partners publish blended ranges across recurring-revenue-mix, geographic, and end-market differences. The right way to use these ranges is as a starting point for a transaction-specific valuation, not an answer.
• The RMR convention varies by buyer. The 30x-50x RMR range is a monitoring-specific valuation convention; not every buyer applies it the same way, and some buyers fold monitoring into a blended EBITDA multiple. Owners with a monitoring book should clarify which convention a given buyer will apply.
• Summit’s BDT & MSD acquisition is announced, not closed. As of this writing, the BlackRock LTPC → BDT & MSD majority transaction was announced 2025 with expected close Q4 2025; the post-close ownership and acquisition cadence are forward-looking until close is confirmed.
• FLS and security integration are adjacent but distinct. Pure fire & life safety (sprinkler, alarm, suppression, ITM) and security integration (access control, video surveillance, intrusion) have different end-markets and buyer preferences. Pavion weights more toward security integration; Pye-Barker, Summit, and Sciens weight more toward FLS. Operators should map buyer fit to their specific mix.
• Subscription-gated figures are labeled. Where this guide cites IBISWorld market-share data or Mordor / GMInsights full-report figures, the underlying report is paywalled; we cite the publisher.
• Public-company comparable APi Group spans more than US FLS. APi’s ~$7.0B revenue includes international Chubb operations and specialty-services segments beyond pure U.S. fire & life safety; the comp is directional, not a pure-play US-FLS proxy.
• This guide is general FLS / security M&A intelligence, not legal, tax, or transaction advice.

Future updates and methodology notes

Refresh cadence: quarterly. Specific 2026 refresh triggers we are watching:

• Summit / BDT & MSD close confirmation. The announced BlackRock LTPC → BDT & MSD majority transaction (expected close Q4 2025) and subsequent acquisition cadence under the new sponsor.
• Pye-Barker 2026 acquisition pace. 57 acquisitions in 2025 is an exceptional pace; whether Altas / Leonard Green maintains, accelerates, or normalizes in 2026 resets benchmark expectations for the mega-platform tier.
• NFPA 72 cloud-monitoring legacy-upgrade cycle. The 2025 NFPA 72 cloud-connected-monitoring mandate for commercial panels creates a multi-year retrofit revenue opportunity that will shape recurring-revenue economics across the category.
• New platform entrants and sponsor recaps. The “three more fire safety providers expected to hit the market” pipeline (per PE Hub) and any sponsor-to-sponsor recapitalizations.

How to flag corrections: Every named platform on this page is sourced to a primary press release, SEC filing, sponsor portfolio page, or industry-research publisher. If you believe a sponsor attribution, scale figure, or transaction date is wrong, the fastest path to a correction is an email to [email protected] with the primary source that contradicts what we have published. We re-verify and patch within 5 business days.

Related research

• How to Sell a Fire Protection Business
• How to Sell a Fire Alarm Company
• How to Sell an Alarm Monitoring Company
• How to Sell a Security Integration Company
• Fire Sprinkler Business Valuation and Buyer Demand
• Private Equity in Managed IT Services 2026, adjacent recurring-revenue B2B-services tracker
• Lower Middle Market Buyer Mandate Report 2026
• Owner’s Exit Checklist

Sources and references

Every named platform, sponsor, scale figure, and multiple range on this page is sourced to a primary press release, SEC filing, sponsor portfolio page, or industry-research publisher. Some trade-press sources (Security Systems News, Carlyle press) bot-block default User-Agent requests and are reachable only via browser; where used, the underlying content is verifiable.

• PR Newswire: Pye-Barker 57 acquisitions in 2025
• Pye-Barker Fire & Safety corporate news
• Altas Partners: ADIA + GIC minority investments in Pye-Barker (Jan 2025)
• PR Newswire: Pye-Barker ADIA + GIC minority investments
• Carrier: APi Group completes Chubb Fire & Security acquisition ($3.1B, Jan 2022)
• APi Group (NYSE: APG) financials, ~$7.0B FY2025 revenue
• Summit Companies: acquisition by BDT & MSD Partners (announced 2025)
• Summit finalizes Performance Systems Integration acquisition (Aug 2025)
• Pavion mergers & acquisitions page, Wind Point Partners-backed
• Wind Point Partners: Pavion acquires Premier Security Solutions
• Sciens Building Solutions corporate site, Carlyle-backed
• GlobeNewswire: Sciens acquires NY company (Jan 2025)
• Breakwater M&A: Fire Alarm & Life Safety Valuation Multiples 2026, +66.7% YoY deal activity; tiered multiples
• Peak Business Valuation: Security Alarm Valuation Multiples
• Capstone Partners: Security Solutions M&A Update
• Essential: Fire Protection Business Valuation
• IBISWorld: Fire Protection & Security System Installation Contractors, fragmentation + market-share data (subscription-gated)
• Mordor Intelligence: Fire Safety Systems Market
• GMInsights: Fire and Life Safety Protection Services Market, $148.5B 2024 / $232.5B 2034 projection
• PE Hub: Three more fire safety providers expected to hit the market
• Axial: EBITDA Multiples by Industry, LMM benchmark synthesis
• GF Data, LMM EBITDA multiples by deal-size band (subscription-gated)
• CT Acquisitions PE Roll-Up Tracker series, companion methodology across HVAC, MSP, auto repair, veterinary, dermatology

Last verified: May 28, 2026. Next refresh: quarterly.

Disclaimer: This tracker is general market intelligence, not investment, legal, or tax advice. Multiples and outcomes by operator tier are illustrative; actuals vary with deal structure, recurring-revenue mix, geography, and buyer fit. CT Acquisitions works both sides of the table and may have active engagements with platforms profiled here.

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