Hot

opportunity score

Raleigh, NC Market Report

Research Triangle hub with world-class universities, biotech, and tech talent driving SMB growth.

1.5M

Metro Population

+3.0%

Annual Growth

620

Listed Businesses

$510K

Median Asking Price

🏙️ Market Overview

1.5M metro

Population · +3.0%/yr growth

Top Industries:
• Technology
• Biotech & Life Sciences
• Healthcare

📊 Acquisition Activity

620

businesses listed for sale

Avg. time on market: 4.1 months

Median asking price: $510K

Price range: $200K – $4.0M

1,800 active buyers

🏦 SBA Lending Snapshot — Raleigh

27%

7(a) Approval Rate

$570K

Avg. Loan Size

Top Lenders

First Horizon Bank · Atlantic Union Bank · First Citizens Bank

SBA Performance: Excellent — tech and life science spillover creates strong demand

📈 Business Valuation Multiples — Raleigh

Industry	SDE Multiple	EBITDA Multiple	Notes
Restaurant (FSR)	2.1x–2.9x	4.8x–6.3x	Growing suburban population; tech worker dining culture
HVAC / Plumbing	2.6x–3.4x	5.6x–7.0x	Rapid suburban growth; humid summers; new construction active
Dental	3.0x–3.8x	6.5x–8.0x	Affluent tech/biotech worker patients; strong insurance mix
E-Commerce	2.0x–2.8x	4.5x–6.0x	Tech-savvy sellers; research triangle proximity for B2B e-commerce
Landscaping	2.1x–2.9x	5.2x–6.5x	New construction and established residential landscaping
Professional Services	2.7x–3.5x	5.9x–7.3x	Tech/biotech spillover; highly educated workforce base

SDE = Seller's Discretionary Earnings (cash flow to owner). EBITDA = Earnings Before Interest, Tax, Depreciation, Amortization. Multiples based on comparable transactions and market data.

🔍 Top Industries — Raleigh

💻 Technology Services Very High

SDE 3.1x–4.1x SDE/EBITDA

Research Triangle tech corridor. SaaS, biotech IT, and cybersecurity businesses command premium multiples. Remote-work-enabled businesses get 20–30% premium. Strong PE and strategic buyer interest.

🔬 Biotech & Life Sciences Services High

SDE 2.8x–3.6x SDE/EBITDA

Bayer, IQVIA, and Biogen drive demand for lab support, medical writing, and clinical services businesses. High barriers to entry create pricing power for established firms.

🏥 Healthcare Services Active

SDE 2.8x–3.6x SDE/EBITDA

UNC Health and Duke expansion driving healthcare M&A. Home health, specialty practices, and medical billing active. Growing suburban population supports demand.

💼 Recent Notable Deals — Raleigh

$980K

PE Acquisition

IT Consulting Firm (Cary)

3.5x SDE — $280K SDE; biotech client focus · 2025

$720K

SBA 7(a)

Lab Services Company (Durham)

3.0x SDE — pharma client contracts; $240K SDE · 2025

$750K

SBA 7(a)

Dental Practice (Cary)

3.4x SDE — affluent suburb demographics · 2024

📈 Growth Signals

Apple $1B campus under construction in Research Triangle
Google expanding Cary data center and office presence
Biotech investment: $3B+ in Triangle life sciences in 2024
In-migration from Northeast driven by tech jobs and affordable housing

⚠️ Key Risks

Highly competitive tech labor market driving up wages
Biotech sector volatility — dependent on VC funding cycles
Lower absolute deal volume than larger metros

🎯 12-Month Acquisition Outlook — Raleigh

Hot

12-month: Raleigh one of the best-performing secondary markets. Tech and biotech investment creating spillover demand for professional services. PE appetite strong for tech-enabled businesses. Multiples elevated but justified by growth trajectory.

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