The most-referenced empirical database on lower-middle-market private-company transaction multiples and discounts. Subscription. The reference for any quantitative claim about transaction multiples or discount stacks in the lower middle market.
Foundry cites Pratt’s Stats frequently because it is the most-referenced empirical record for the topics Foundry covers. Founders considering a transition typically do not need a Pratt’s Stats subscription, but they should know it exists, and they should ask their advisor whether the advisor’s claims about multiples in their sector are anchored in Pratt’s Stats data or in anecdote.
The discount stack methodology, in particular the customer-concentration step function and the key-person dependency range, is documented in the Pratt’s empirical record and is the anchor for most operator-facing claims about transaction discounts.