MSPs and IT service providers
Selling an MSP: valuation multiples, who is buying, and where your records fit
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The short answer
Selling an MSP usually means a sale to a private equity platform or one of its add-on acquirers. Aventis Advisors counts 1,680 MSP acquisitions worldwide from 2015 to 2025, and reports a median of around 8.9x EV/EBITDA across 120 private MSP deals, with smaller companies typically at 5 to 8x (source: Aventis Advisors, Who is buying MSPs? (Mar 22, 2026), Aventis Advisors, MSP Valuation Multiples (Jan 22, 2025)).
Your records are a separate asset. A license to a de-identified copy of your runbooks, KB articles, scripts and ticket metadata can be done before a sale, without giving up the clients or the recurring revenue an acquirer pays for. Decide it before an LOI, keep exclusivity short, and disclose it in diligence.
MSP M&A: who is buying MSPs
Owners who search “sell my MSP” are entering one of the busiest small-company M&A markets. Aventis Advisors counts 1,680 MSP acquisitions worldwide from 2015 to 2025, drawn from a database of more than 125,000 transactions (source: Aventis Advisors, Who is buying MSPs? (Mar 22, 2026)). Its list of the most active acquirers over that period:
| Acquirer | MSP acquisitions, 2015 to 2025 |
|---|---|
| Evergreen Services Group (incl. Executech) | 35 |
| The 20 (20 LLC) | 24 |
| Thrive | 19 |
| NuMSP | 13 |
| Advania | 12 |
| Ntiva | 10 |
| Logically | 9 |
| Sourcepass | 8 |
| Calligo | 8 |
For recent MSP acquisitions in your region, advisors and trade press publish running deal lists. What the count tells an owner is simple: buyers exist at most sizes, and an MSP with clean recurring revenue and documentation will usually have more than one conversation.
MSP valuation multiples: what the published data shows
Sale prices for small MSPs are rarely disclosed, so published MSP valuation multiples come from advisors working with private deal data. The most detailed public summary we found is from Aventis Advisors, published January 22, 2025 (source: Aventis Advisors, MSP Valuation Multiples (Jan 22, 2025)):
- Private deals. “a median multiple of around 8.9x EV/EBITDA” across 120 MSP transactions, where “the median transaction size was $38.5M.”
- Smaller MSPs. “valuation multiples typically range from 5-8x EBITDA,” and businesses with revenues under $1 to 2 million “can drop to 3-4x EBITDA.”
- Market history. EV/EBITDA ranged from 7.8x (H2 2018) to 17.5x (H1 2021) and stood at 11.4x in H2 2024; EV/revenue stood at 1.3x in H2 2024.
| Deal size | MSP EV/EBITDA (implied) |
|---|---|
| Under $5M | 5.2x |
| $5M to $20M | 6.8x |
| $20M to $50M | 8.9x |
| $50M to $100M | 9.9x |
| $100M to $500M | 10.0x |
| $500M+ | 11.2x |
Read MSP EBITDA multiples and MSP acquisition multiples as ranges for a category, not a price for your company. A 30-person MSP with $1M of EBITDA sits near the bottom of that table, and its multiple will depend on the factors below.
How much is my MSP worth? What moves the multiple
Aventis lists the drivers it sees in MSP valuations (source: Aventis Advisors, MSP Valuation Multiples (Jan 22, 2025)):
- Recurring revenue. Service-based models with strong recurring revenue are valued significantly higher than resellers.
- Client retention. Retention “ideally above 90%” signals stability.
- Focus. Cybersecurity firms tend to command higher multiples.
- Scale and buyer competition. For MSPs with over $1M of EBITDA, “there are consistently more buyers than sellers.”
A data license sits outside this math. By our reading, an acquirer values the recurring earnings of the business, and a license is a one-time payment for a copy of records. It is cash to you, not EBITDA to the buyer, which is one reason to settle it before a sale rather than hope an acquirer pays for the archive.
Selling an MSP vs licensing its records: two buyers, two assets
Owners sometimes hear about AI data licensing and assume it is a partial sale of the company. It is not. The two deals buy different things from different people, and they can sit side by side if you plan the order.
| Acquirer of your MSP | AI data buyer | |
|---|---|---|
| What it buys | The company: clients, contracts, staff, recurring revenue, tools and records | A license to a de-identified copy of selected records for an agreed use and term |
| How it prices | A multiple of EBITDA, adjusted for recurring revenue, churn, size and focus | Each program's own method, usually based on years of history, record types and exclusivity |
| What it checks | Financials, client contracts, churn, service quality, security and documentation | Whether you own the records, what must be excluded, and how the records are de-identified |
| What you keep | Nothing, apart from any earn-out or rollover equity | Your company, your clients and your original records |
| Client data | Transfers with the business under your client contracts | Stays out; client environments, credentials and regulated clients are excluded |
The overlap is the record set. Clean PSA history, current runbooks and a tidy script library help an acquirer judge your service quality, and they are also what an AI buyer pays for. That is why the order matters: the same preparation serves both deals, but once the company is sold, the records belong to the new owner.
A word on online MSP valuation calculators. They usually multiply an EBITDA or revenue figure by a range like the ones above. That is a fair first look at the company, and it says nothing about the records. The same is true in reverse: data program estimators that scale with headcount and years are not a valuation of your MSP, and estimators from different programs often share one formula.
What acquirers check in your PSA, agreements and documentation
Diligence on an MSP leans on the same systems that hold its records. By our reading of how MSP deals are run, expect requests in four areas:
- Agreements and recurring revenue. PSA agreement and billing data that reconcile to your financials, client counts, seat counts and churn by year.
- Client contracts. Your MSA template, signed exceptions, assignment and change-of-control terms, and any BAAs or regulated-client addenda.
- Service quality. Ticket volumes, SLA performance, reopen rates and CSAT, which come from the same ticket metadata buyers of records value.
- Documentation and security. How complete your IT Glue or Hudu documentation is, how credentials are managed, and any past incidents.
Two things follow. First, the work to prepare for a sale (clean PSA data, current documentation, a clear list of regulated clients) is most of the work to prepare a data license. Second, an acquirer will ask about any contract that touches client information, so a license that is narrowly scoped to MSP-authored material and tokenized metadata is much easier to explain. Our guide to MSP client data, MSAs and what stays out shows where that line sits.
Where a data license fits around selling an MSP
| Timing | What usually applies |
|---|---|
| Before an LOI | You decide alone. Scope the license to MSP-authored records and metadata, keep exclusivity short, and keep the paperwork ready to disclose. |
| Under a signed LOI | Our expectation is that most LOIs restrict new contracts outside the ordinary course. Ask the acquirer in writing before signing anything. |
| After closing | The acquirer owns the company and its records and decides. Former owners usually have no right to license them. |
Exclusivity is the term an acquirer will read first. Buyer program E requires 24 months of seller exclusivity, and Buyer program K's published deals are perpetual exclusive licenses (source: program terms, Regulr buyer directory). Each figure here is a program's own advertised term; our buyer directory lists the programs and links to their published terms. A short, non-exclusive or narrowly scoped license is easier to carry through a sale than a perpetual exclusive one on the same records.
Disclose it
Whatever you sign, list it in the disclosure schedules: the buyer, the scope, the term, any exclusivity and any ongoing delivery. An undisclosed license on records an acquirer thought it was buying is the kind of surprise that delays a close.
After closing: platform PSA migrations and lost ticket history
Platforms often standardize acquired MSPs on one PSA, RMM and documentation tool. When an old subscription lapses, so does the history, and the windows are short: Autotask keeps data 30 days after termination and Datto RMM keeps nothing (source: Kaseya terms for Autotask PSA and Datto RMM (updated Nov 17, 2025)); ConnectWise retains Client Data no more than 30 days (source: ConnectWise Master Agreement (revised Sept 30, 2024)); IT Glue allows no export after termination and may destroy data after 30 days (source: IT Glue Product Terms of Use (updated Mar 21, 2025)); Hudu data is inaccessible immediately (source: Hudu Terms (effective Mar 19, 2026)).
If you are selling, take a full export of closed ticket history, KB and scripts before any cutover, whoever ends up owning it. Our guide to ConnectWise, Autotask and HaloPSA data export terms lists every window.
If you are closing an MSP instead of selling
Some owners wind down instead, often by moving clients to another provider. Records can still matter then, and some programs take them: Broker A says operating, downsizing and closed firms qualify, Buyer program M takes companies that are no longer operating, and Buyer program A has a separate form for defunct companies with 50+ employees at peak (source: program terms, Regulr buyer directory).
The catch for a closing MSP is timing. Once subscriptions lapse, the history goes with them, so a closed MSP whose PSA and documentation subscriptions already ended usually has little left to license. Export first, then cancel.
Checklist for selling an MSP with records in mind
- Decide whether a data license is part of your plan before you talk to acquirers.
- Export full closed ticket history, KB and scripts from every PSA, RMM and documentation tool.
- Sort records into MSP-authored, needs review and stays out.
- List regulated clients, BAAs and MSAs with strict use limits.
- If you license, compare exclusivity as closely as price, and prefer short or non-exclusive terms.
- Disclose any license, its scope and its exclusivity to the acquirer.
- Keep the archive until the sale closes and the acquirer confirms what it needs.
To see whether your runbooks and ticket history are worth a conversation before a sale, start with the MSP and IT services page on what your records could qualify for, or read the full MSP data licensing guide. Owners in other categories face the same timing question; see our guide to selling an accounting practice.
How Regulr is paid, and how we write these pages
Regulr is a sell-side advisor. When a business we introduce signs a license, we may be paid a fee by the buyer or through a program's referral terms. We list every program we can verify whether or not it pays us, order is never set by fees, and every figure is the company's own advertised term with a link to where it says so. Regulr has not closed a data deal yet, so nothing here describes our results.
Frequently asked questions
How do I sell my MSP?
Most owners start with an M&A advisor or broker who knows IT services, prepare clean financials and recurring-revenue reports, and then take offers from strategic acquirers and private equity platforms. Expect diligence on your client agreements, churn, PSA data and documentation. If you also want to license a copy of your MSP-authored records to an AI buyer, decide that before you sign an LOI.
What are MSP EBITDA multiples?
Aventis Advisors reports a median of around 8.9x EV/EBITDA across 120 private MSP transactions, with a median deal size of $38.5M. It says smaller companies typically trade at 5 to 8x EBITDA, and that businesses with revenues under $1 to 2 million can drop to 3 to 4x. Those are published medians, not a valuation of any one MSP.
How much is my MSP worth?
It depends most on EBITDA, the share of revenue that is contractually recurring, client churn and concentration, and size. Aventis lists recurring revenue, retention ideally above 90%, a cybersecurity focus and scale among the drivers. A broker or advisor working from current private deal data can give you a range; published multiples are a starting point only.
Who is buying MSPs?
Mostly private equity platforms and their add-on acquirers. Aventis counts 1,680 MSP acquisitions worldwide from 2015 to 2025 and lists Evergreen Services Group, The 20, Thrive, NuMSP, Advania, Ntiva, Logically, Sourcepass and Calligo among the most active acquirers over that period.
Does a data license lower my MSP's sale price?
It should not, if it is scoped and disclosed. A license covers a de-identified copy of MSP-authored records and metadata; you keep the originals, the clients and the recurring revenue an acquirer values. Exclusivity is what an acquirer will look at, because a long exclusive term limits what the new owner can do with the same records.
Should I license my MSP's records before or after I sell?
Before, if you want the proceeds. After closing, the acquirer owns the company and decides, and many platforms move acquired MSPs onto their own PSA. During a signed LOI, the acquirer will expect a say in any new contract. Whatever the timing, disclose the license, its scope and any exclusivity.
What happens to my PSA and IT Glue history after an acquisition?
It depends on the acquirer's plans. If your old subscriptions lapse after a migration, the vendor windows are short: Autotask keeps data 30 days after termination, ConnectWise no more than 30 days, IT Glue allows no export after termination, and Hudu data is inaccessible immediately. Take a full export of closed ticket history before any cutover.
Sources
The two Aventis Advisors articles and the vendor terms were read on their own pages on October 18, 2026. Program terms were checked on October 15, 2026; our buyer directory lists the programs and links to their published terms. Deal-sequencing notes are our reading of common practice, not quotes.
- Aventis Advisors, Who is buying MSPs? (Mar 22, 2026)
- Aventis Advisors, MSP Valuation Multiples (Jan 22, 2025)
- ConnectWise Master Agreement (revised Sept 30, 2024)
- Kaseya terms for Autotask PSA and Datto RMM (updated Nov 17, 2025)
- IT Glue Product Terms of Use (updated Mar 21, 2025)
- Hudu Terms (effective Mar 19, 2026)
- program terms, Regulr buyer directory
Brian Boesen · Founder, Regulr AI
Brian runs Regulr AI, which works for established businesses that want to license de-identified records to AI companies. He checks each program's published terms against its own pages and updates these guides when they change. Last updated October 18, 2026.
This page is general information, not legal advice, and Regulr is not a law firm. Rules vary by state, by profession and by contract, and they apply to your facts, not to a category. You approve exactly what is in scope before anything is shared.
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