What Buyers Look for in an Acquisition
Headline metrics like growth rate and profitability matter, but they’re not the full story. According to the Equiteq Global Buyers Report 2025, buyers are digging deeper into leadership strength, operational resilience, and long-term potential.
Here’s what’s driving their decisions.
Buyers Still Care About Fundamentals
Revenue growth and EBITDA remain core metrics, but it’s about sustainable growth, not just the headline number.
- 10% to 20% growth businesses are attracting valuations of 9 to 10x EBITDA
- Firms growing at 30 percent or more are still commanding 11 to 12.6x EBITDA if they show scalability and resilience
Key takeaway: Buyers want confidence that growth will continue, supported by strong leadership and delivery.
Leadership and Cultural Fit Matter
It’s not just about numbers. Buyers rank leadership quality and cultural alignment among the top factors in any deal. Private equity buyers are increasingly offering equity to retain key talent. Strategic buyers are focused on team integration and vision alignment.
Key takeaway: The team behind the business can be just as valuable as the business itself.
What Different Buyer Types Prioritize
- Private equity is focused on growth, profitability, and recurring revenue.
- Strategic buyers want capability fit, cross-sell opportunities, and smooth integration across teams or services.
Resilience is Now a Value Driver
Buyers are asking whether a business can adapt to disruption. AI-readiness, operational flexibility, and talent retention are all factors in the evaluation process.
Key takeaway: Firms that can adapt to change and retain their expertise stand out in a crowded market.What This Means for Sellers
Buyers are not just acquiring performance. They’re acquiring future potential.
They want to know:
- Is your growth repeatable?
- Is your team motivated and stable?
- Can your business weather change?
- Does it fit with what they already own?
Now is the time to strengthen your value story. Not just what you’ve achieved, but where you’re going next.
Download the full Equiteq Global Buyers Report 2025 for more insights into how buyers are making decisions in today’s M&A landscape.
If your business is aligned to one of the platforms buyers are prioritizing, like Salesforce, Azure, or Databricks, you may already be in a strong position.
We explore this further in our blog on the tech ecosystems powering M&A, including which capabilities are most in demand and how sellers can stand out.