Observatory on SME transmission
E-Research

The CNCFA EPSILON Observatory on SME Transmission was founded in 2010 by EPSILON RESEARCH and the CNCFA (Compagnie Nationale des Conseils en Fusions et Acquisitions).
Its mission: give information and analysis on the evolution of the SME transmissions market in France (and Europe), for both professionnal players and public institutions.
Market followed:- SME transmissions, both external (mergers & acquisitions) and internal (family / management)
- Small and Medium sized Enterprises as defined by the European Commission (20-249 employees / €2m-€50m turnover) - excluding micro-enterprises and very small enterprises (< 19 employees / €2m turnover)
- In France, with a comparison with key European countries
A yearly Barometer is published on the subject (in French)
In partnership with:

About Epsilon Research
Epsilon Research is an independent research and financial analysis bureau specializing in the private company M&A and private equity markets. It is a specialist provider of research, deal analysis and market intelligence on M&A and LBO transactions. It has developped the database of private company transaction multiples EMAT ,now a reference source for the valuation of private companies.
SME Aquisition multiples
Epsilon Multiple Analysis Tool
Multiples on 10,000+ European transactions analysed since 2004
EMAT-SME database
Multiples on 7.000+ European SME transactions (€1m-€50m)
Yearly Questionnaire
(For French M&A advisors only)