By Daniel Askew, Founder & CEO of Icon Business Advisors | Updated March 2026
Nashville M&A Market Data 2026
This page compiles lower middle market M&A transaction data, valuation multiples, and market trends specific to Nashville and the greater Tennessee region. Data is drawn from completed transactions, market intelligence, and industry databases. Updated quarterly.
Nashville EBITDA Multiples by Industry (2026)
Healthcare Services: 5.0x – 8.0x EBITDA
Technology / SaaS: 4.0x – 7.0x EBITDA (or 2x – 5x revenue for high-growth)
Professional Services: 3.0x – 5.0x EBITDA
Manufacturing: 4.0x – 6.0x EBITDA
Construction & Trades: 3.0x – 5.0x EBITDA
Logistics & Distribution: 4.0x – 6.0x EBITDA
Hospitality & Food Service: 3.0x – 4.0x EBITDA
Nashville businesses generally command multiples 0.5x – 1.0x above national averages due to market growth trajectory and strong buyer demand.
Key Nashville M&A Market Statistics
- Average time to close: 8-9 months for businesses with $3M-$50M revenue
- Most active sectors: Healthcare, technology, construction, professional services
- Buyer composition: ~45% strategic acquirers, ~35% PE firms, ~20% individual/search fund buyers
- Seller-friendly market: Nashville’s population growth and economic expansion continue to create strong buyer demand
- Tennessee tax advantage: No state income tax on earned income, making Tennessee one of the most favorable states for business exits
Nashville M&A Market Trends — 2026
Healthcare consolidation continues. PE-backed platforms are actively acquiring healthcare services companies in the Nashville MSA, particularly home health, behavioral health, and specialty staffing.
Construction & trades at peak demand. Nashville’s ongoing building boom has created a generation of profitable trade businesses with aging owners — a perfect storm for M&A activity.
Tech-enabled services commanding premiums. Businesses that have invested in technology infrastructure (automation, data analytics, digital platforms) are seeing 1-2x multiple premiums over traditional counterparts.
Submarket expansion. Buyer interest is expanding beyond Nashville into Chattanooga, Knoxville, and Huntsville, where competition is lower and multiples are catching up to Nashville levels.
About This Data
This market data is compiled by Icon Business Advisors, a Nashville-based M&A advisory firm specializing in the lower middle market ($3M-$50M revenue). For questions about this data or to discuss how these trends affect your specific business, schedule a confidential conversation.
Last updated: March 2026. Data reflects completed transactions and active market conditions in the Nashville MSA and greater Tennessee region.