MANDA INSTITUTE

You are thinking about selling. First, know what it is worth.

Sell the whole business, sell part of it, raise money against it, or decide the timing is wrong and wait. Every one of those is easier to choose once you have a number you can defend.

You will sell this once. Everyone else at the table does it for a living.
That is the asymmetry you are walking into. It is not that anyone across the table is dishonest. It is that they have priced hundreds of businesses and you have priced one. It shows up in three ways.
The first number you hear will not come from someone neutral.
The moment you say out loud that you are thinking about selling, answers start arriving. Your accountant knows your tax position, not what a buyer pays. Your bank knows your balance sheet. A broker will take the first meeting for nothing and follow it with an engagement letter. Only 12% of advisors will work on success fee alone. The rest charge before there is a result, payable whether or not the sale ever happens. None of them is lying to you. Not one of them is paid to tell you a number before you have committed to something.
There is almost nobody you can safely say it to.
Not the management team, who would start updating their CVs by the afternoon. Not your customers, and not the suppliers who have carried you on terms. Often not your family yet, because saying it out loud makes it real and you are not certain enough for that. So the largest financial decision of your life gets worked through alone, late, with no figure in front of you and nobody to check your thinking against.
You should be able to find out what it is worth before you commit to anything.
The industry is not arranged that way. The number tends to arrive after the mandate is signed, because producing the number is what the mandate is for. That order suits the people who do this every year. It does not suit the person doing it once, who is asked to choose an advisor, agree a fee and sign a term of engagement while still being the only one in the conversation without a figure.
We know what it is you are selling.
It is not a target and it is not an asset on a list. It carries your name in the town where you live, the people in it are people you hired, and whatever the number turns out to be it decides what the next part of your life looks like.
That is the easy half to say. Here is the half that should earn your trust, because anyone asking you to trust them has already lost the argument.
Calibrated to the 8.6× profit that medium sized European businesses sold for in Q1 2026, according to the Argos Mid-Market Index. MANDA's per industry figures are our own estimates and are not published by Argos.
EBITDA multiple, revenue multiple, discounted cash flow and asset based, each footnoted to its source. The EBITDA multiple sets the headline, or the revenue multiple when adjusted EBITDA is not positive. The methods are not averaged or weighted together. One method produces the headline figure and the others are shown beside it so you can see whether they agree with it. Per industry figures are disclosed as MANDA estimates, not figures published by Argos.
The software does the arithmetic. An M&A advisor reads the output and signs off on what you receive. If a figure could not be defended in front of a buyer, it does not go out.
We are not yet ISO 27001 certified. We hold no verified transaction data of our own. Separate benchmarks exist for smaller companies, mid market and larger enterprises, so no single multiple is applied to every business, and where a figure is an estimate the figure says so.
The Argos Mid-Market Index tracks what buyers actually paid for medium sized European companies. It is published four times a year by Argos Wityu, and the current figure is 8.6× profit.
Three steps. You can stop after any of them.
See your number
Free, with no account and no name.
Answer a few questions about your sector, your country, your revenue and your profit. You get an indicative range back, with the benchmark it is calibrated against and the reasoning underneath it. You do not create an account and you do not give us your name.
Make it real
Add your accounts and watch the range tighten.
The first number is built on the little we know. Add your accounts and the adjustments a buyer would make get made in the open, one at a time, and the range narrows around your business rather than around businesses like yours.
Choose your path
Sell, sell part, raise or wait. You decide.
Knowing the number does not commit you to anything. Sell the whole business, sell part of it, raise money against it, or decide the timing is wrong and wait. Every one of those is a real answer, and waiting is the one most owners never price properly.
What arrives once you add your accounts
Your indicative value
An indicative enterprise value range measured against what medium sized European businesses sold for last quarter, with MANDA industry estimates, in under 60 seconds.
What is driving your multiple
EBITDA and revenue multiples across 18 GICS sectors, segmented by size and geography, so you can see where your business actually sits rather than where the average sits.
European market context
Regional benchmarks for EU, EEA and EFTA markets reflecting local conditions, not one European average applied to every deal.
The full report
One headline method, with discounted cash flow and asset based figures shown beside it as cross checks where your inputs allow, footnoted throughout.
Your buyer landscape
Which strategic and financial acquirers are active in your sector, and which of them match your size, geography and profile.
Timing context
Deal volume and count trends by industry and geography, so the timing question gets discussed with numbers in front of it.
Start with the number.
No account. No name. An indicative range in under 60 seconds, with the benchmark it was measured against.
Three things that go wrong, and what they have in common.
None of these is a scare story and we are not going to dress them up as one. They are ordinary and specific, and each traces back to the same missing fact.
You sell for less than it was worth
The problem surfaces in week six
You pay to go to market, and never sell
Walking in already knowing.
The valuation survives due diligence
The instant benchmark gives you an indicative value range in under 60 seconds, measured against completed sales of medium sized European businesses. The full valuation takes about 5 minutes, uses your own financials and shows up to four methods. Both are free. Both are indicative estimates, not a formal appraisal.
The one success fee we intend to charge applies only when a deal closes. Provisional. No engagement letter has been drafted yet, so this is how we intend to charge rather than terms you can hold us to.

See what it's worth