Bidding Wars Intensify for Larger Business Assets in Q2 2026

The latest Market Pulse survey, compiled from 255 brokers and advisors, highlights a growing divide between market segments. For assets valued between $5 million and $50 million, valuation multiples rose to 5.8, a peak not seen since early 2022. This segment remains a seller’s market, with roughly three-quarters of advisors noting that owners hold the upper hand. Conversely, transactions under $500,000 frequently struggle to generate more than one or two offers, keeping leverage firmly in the hands of the buyer.

Despite the competitive climate for larger assets, the path to a final signature is lengthening. Main Street transactions now require six to 10 months to finalize, while lower middle market deals often stretch to a full year. The most significant delay occurred in the $2 million to $5 million range, where closing times jumped by over two months. Regardless of the timeline, sellers remain successful in securing liquidity; roughly 83% to 92% of transaction value is typically paid out at the time of closing.

Retirement remains the primary catalyst for sales across all categories, driving nearly two-thirds of deals for businesses valued above $500,000. However, most owners approach these exits with minimal preparation. According to the data, between 60% and 90% of sellers began their exit planning less than a year before listing, or skipped formal preparation entirely.