BUYER POOL ANALYSIS
Selling a Mental Health to Individual / Owner-Operator buyers
Owner-operators, SBA-financed independent buyers, and smaller management buyouts. Pricing reflects what an individual can finance (typically 10-25% down + SBA 7(a)) and operate hands-on. Below typical PE engagement size.
Quick answers
- What multiple does this buyer pool pay?
- Median EV/EBITDA 12.15x across 16 disclosed deals (P25: 8.72x, P75: 15.12x). Median EV/Revenue 0.9x across 11 deals. Median deal value: $200M.
- How many disclosed transactions?
- 19 deals total (19 from 2018+), filtered to Individual / Owner-Operator acquirers of mental health businesses.
- Most active buyers
- Vistria Group (3) · Individuals (2) · NexPhase Capital (1) · Mitchell Family Office (1) · Nautic Partners (1) · The Graph Group (1)
Recent disclosed deals
Individual / Owner-Operator acquisitions of mental health businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2025 | Behavior Frontiers | NexPhase Capital | $210.0M | 14.0x | — |
| 2025 | Perimeter Healthcare | Mitchell Family Office | $165.0M | 8.7x | 1.10x |
| 2025 | Proud Moments ABA | Nautic Partners | $425.0M | 21.3x | — |
| 2025 | Seaside Health System of Baton Rouge | The Graph Group | $7.3M | 6.2x | 0.50x |
| 2025 | Wellpath Recovery Solutions | Undisclosed Lenders | $375.0M | — | 0.90x |
| 2025 | Westside Children's Therapy | Achieve Partners | $100.0M | 12.5x | 1.80x |
What this buyer pool prices for
Individual buyers — owner-operators, SBA-financed independents, smaller management buyouts — price for what they can finance (typically 10-25% down with SBA 7(a) loans up to $5M deal value) and operate hands-on. Multiples are below PE / strategic because the buyer is taking the owner-operator role, not stepping in as institutional capital. Owner-dependency and seasonality matter more here than to a PE buyer.
Methodology note
Multiples shown are computed from disclosed M&A transactions in the ExitValue.ai database, filtered to mental health businesses acquired by individual / owner-operator buyers. EV/EBITDA outliers outside the [0.5x, 60x] band and EV/Revenue outliers outside [0.05x, 25x] are excluded from medians. Where available, post-2018 transactions are weighted; otherwise the all-time sample is used. Deal counts shown reflect deals with disclosed financials only — total transaction count for this buyer pool is typically 2-3x larger. Full methodology
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