How to Read the Database

Transactions

The Transactions page shows one primary reference observation per transaction. It is designed for screening across source-backed consumer and retail transaction multiples, with filters for sector, source type, buyer type, target type, and year.

A transaction can have more than one observation because different sources may report different values, multiples, dates, ranges, or adjustments. The table keeps the overview to one row per deal, while Deal Detail pages show the available source-specific observations for that transaction.

Sources

Sources can include fairness opinions, press releases, SEC filings, investor presentations, and, in rare instances, sell-side research. The Source column shows the primary source used for the transaction row. Fairness opinion badges link to the related Fairness Opinion Detail page when that opinion is on file.

Fairness Opinions

The Fairness Opinions page lists fairness opinions on file, including the subject transaction, advisor, selected EBITDA range when available, sector, buyer type, and source filing. Each fairness opinion has a detail page showing the subject deal information at the top and the advisor transaction comparables below.

On Fairness Opinion Detail pages, the subject transaction is separate from the advisor comparables table. The comparables table reflects the transactions used by the advisor in that fairness opinion and excludes the subject transaction itself.

Why Are There Missing Transaction Values And Multiples?

The short answer is: only directly sourced information is included. If the transaction table did not include a transaction value, then none is included.

However, public targets that were subject to a fairness opinion will typically disclose enough information in the proxy statement to calculate the transaction value and the multiple by hand.

Caveat

The database is intended for knowledge, research and context. It transcribes source-backed information and does not constitute investment advice. Humans and machines make mistakes.