BUYER POOL ANALYSIS
Selling a pharmacy 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 17.98x across 9 disclosed deals (P25: 13.2x, P75: 23.85x). Median EV/Revenue 1.27x across 4 deals. Median deal value: $296.25M.
- How many disclosed transactions?
- 10 deals total (10 from 2018+), filtered to Individual / Owner-Operator acquirers of pharmacy businesses.
- Most active buyers
- Rubicon (1) · Nautic Partners (1) · Sycamore Partners (1) · TPG (1) · Novo Holdings (1) · Peak Rock Capital (1)
Recent disclosed deals
Individual / Owner-Operator acquisitions of pharmacy businesses with named target, named acquirer, and disclosed financials.
| Year | Target | Acquirer | EV | EV/EBITDA | EV/Rev |
|---|---|---|---|---|---|
| 2025 | Horizon Infusions | Rubicon | $130.0M | 16.3x | — |
| 2025 | KabaFusion | Nautic Partners | $2200.0M | 20.0x | — |
| 2025 | Walgreens Boots Alliance | Sycamore Partners | $23700.0M | 52.4x | 0.20x |
| 2024 | SureScripts | TPG | $1800.0M | 27.7x | 4.40x |
| 2022 | KabaFusion | Novo Holdings | $1111.5M | 19.5x | — |
| 2020 | Paragon Healthcare, Inc. | Peak Rock Capital | $262.5M | 10.5x | — |
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 pharmacy 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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