About The Multiple

Most deal stories start with the acquisition and end with the exit. That skips the part that matters.

The Multiple is about the years in between: what the buyer saw, what changed once the ink was dry, and the few decisions that ultimately drove the return.

Every Thursday, we take apart one private equity deal using the public record. The podcast continues the conversation with the investors, CEOs, and operators who were closest to the decisions.

The point is not to make every outcome look inevitable. It is to understand where the return came from.