RL Hulett：2025年第二季度全球环境服务行业并购市场研究报告（英文版）（22页）.pdf

1、Environmental Services M&A UpdateQ2 2025REPORT CONTRIBUTORSFor more information on R.L Hulett or this report please visit our website at ,call us at(314)721-0607,or contact a professional listed on this page.Trevor HulettManaging DRyan HartmanSenior AREPORT HIGHLIGHTS In Q2,the NYSE Arca Environment

2、al Services Index increased by 7.4%,but was outperformed by a 10.2%increase in the S&P 500 over the same period.The median EV/EBITDA multiple for reported strategic deals in the Environmental Services sector decreased to 5.5x in 1H from 15.0 x in 2024,while no private equity multiples were reported

3、during the period.M&A deal volume in the sector increased 4.7%in Q2 to 135 deals from 129 in Q1,but decreased 0.7%from 136 deals in Q2 of the prior year.As a%of total capital invested in M&A transactions,PE participation increased in 1H to 79.1%from 31.2%in 2024.North America was the most active reg

4、ion in Q2 with 62 deals.Most notably in North America was Atkins Ralis Groups$300.0 million acquisition of David Evans&Associates,a provider of engineering,planning,and environmental consulting services.CONTENTS3 Global Deal Analytics7 Valuation Multiples10 Leading M&A Deals13 Industry Outlook14 Abo

5、ut R.L.Hulett16 Selected Transactions18 Our M&A TeamEnvironmental Services M&A UpdateQ2 2025Dax KugelmanAEnvironmental Services M&A Update|Q2 2025|Page 3Source:PitchBook DataGlobal Deal Analytics5146175Of the 135 deals in the Environmental Services sector in Q2,North America was the most active with

6、 62.A notable North American deal(in addition to the David Evans&Associates deal mentioned on the previous page)was Pennsylvania American Waters$5.0 million acquisition of East Dunkard Water Authority,an operator of a water treatment plant,in April 2025.Europe was the second most active with 46 tran