Fairness opinions › Segments
Distribution and Equipment Services fairness opinions
7 public-company healthcare transactions in Distribution and Equipment Services, 2012-2025, each with the banker's fairness opinion from the SEC filing: the DCF discount rate and terminal assumptions, the selected companies and precedent transactions, and the deal terms.
Valuation benchmarks
EV / LTM EBITDA
11.9x
median · n=7
EV / LTM revenue
1.06x
median · n=7
DCF discount rate (midpoint)
9.4%
median · n=7
Distribution and Equipment Services transactions with a fairness opinion, 2012-2025. Multiples are enterprise value over the last-twelve-months figure disclosed in the filing; the discount rate is the midpoint of the range the banker used in its DCF.
Bankers most often engaged in Distribution and Equipment Services
Goldman Sachs (3) · Truist Securities (1) · Evans & Evans (1) · Guggenheim Securities (1) · Centerview Partners (1) · Moelis & Company (1) · Credit Suisse (1)
All Distribution and Equipment Services transactions
| Announced | Target | Acquirer | EV | EV/EBITDA | EV/Rev | DCF rate | Fairness opinion |
|---|---|---|---|---|---|---|---|
| 2025-12-15 | Quipt Home Medical | Kingswood Capital Management / Forager Capital Management | $260M | 4.7x | 1.06x | 10.8%–12.8% | Truist Securities, Evans & Evans |
| 2024-12-11 | Patterson Companies | Patient Square Capital | $4.1B | 12.0x | 0.61x | 8.6%–10.2% | Guggenheim Securities |
| 2024-02-26 | Agiliti | Thomas H. Lee Partners | $2.5B | 9.4x | 2.13x | 10.0%–11.5% | Centerview Partners |
| 2022-05-24 | Covetrus | Clayton, Dubilier & Rice | $4.0B | 14.0x | 0.81x | 9.0%–11.5% | Goldman Sachs |
| 2022-01-10 | Apria | Owens & Minor | $1.7B | 12.0x | 1.48x | 7.5%–9.0% | Goldman Sachs |
| 2018-08-13 | Universal Hospital Services | Federal Street Acquisition | $1.7B | 11.9x | 3.23x | 8.5%–10.0% | Moelis & Company |
| 2012-10-24 | PSS World Medical | McKesson | $1.9B | 10.6x | 0.84x | 8.0%–10.5% | Credit Suisse, Goldman Sachs |
3,000+ healthcare deal-level valuation multiples
The Valuation database includes financial details for more than 3,000 healthcare M&A transactions, private and public, with deal-level multiples, categorized by segment, type, and year.