Trade M&A wave cooling: fewer deals, only premium assets moving as rates rise

Commentary that the trades M&A wave has crested; multiples haven't fallen but far fewer deals are getting done, with only large established firms with good service/install revenue mix still attractive while high interest rates kill weaker deals.

“there are much fewer deals getting done. The multiples haven't come down per se, but it's the premium assets which are moving nowadays.”

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