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141 • Year and month of reported sale. A further review of the 176 transactions identified in the IBA database resulted in the elimination of 139 transactions due to sales involving
companies engaged in HVAC and other industries unrelated to plumbing. This leaves the valuator with 36 plumbing contracting transactions upon which to consider. All remaining 36 transactions provided a gross sales multiple while 27 of those provided the gross sales multiple as well as an owner’s discretionary earnings multiple. The valuator believes this quantity of transactions is large enough that a statistically valid analysis can be conducted.
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