M&A Working Capital Purchase Price Adjustment Study 2026
In private-target M&A, working capital purchase price adjustments (PPAs) have become the norm – present in more than 90% of transactions today, up from 50% just a decade ago. What is behind this shift? What other PPA trends are emerging?
The 2026 SRS Acquiom M&A Working Capital Purchase Price Adjustment Study analyzes more than 1,500 private-target acquisitions, most of which are not publicly reported. These deals were valued at more than $385 billion with finalized PPAs. The study also includes drafting considerations and additional insights from SRS Acquiom in-house CPAs and Chartered Accountants who, together, have resolved more than 2,900 PPAs.
Learn more about:
- How are deal parties negotiating PPA provisions?
Explore trends in PPA customization based on deal dynamics. - What to know when sizing PPA escrows?
Glean insights about separate escrows and trends in claim sizes. - What actually happens?
Learn more about the time and process afforded to PPA reviews and resolutions.
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