RL Hulett：2025年第三季度全球工业服务业并购市场研究报告（英文版）（22页）.pdf

1、Industrial Services M&A UpdateQ3 2025For 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.Industrial Services M&A UpdateQ3 2025REPORT HIGHLIGHTS In Q3,the S&P 500 Industrial Services Index increased by 4.

2、3%,but was outperformed by a 7.9%increase in the S&P over the same period.The mean EV/EBITDA multiple for reported strategic deals increased slightly to 8.4x in YTD 2025 from 8.2x in 2024,while the EV/Revenue multiple for private equity deals increased to 1.6x in YTD 2025 from 1.3x in 2024.M&A deal

3、volume in the sector increased 1.4%in Q3 to 220 deals from 217 deals in Q2,and increased 14.0%from 193 deals in Q3 of the prior year.North America was the most active region in Q3 with 129 deals.Most notably in North America was NDT Systems&Services$300.0 million acquisition of Entegra,an Indiana-ba

4、sed provider of commercial and industrial services,in April 2025.Total capital invested in M&A transactions decreased 82.1%in Q3 to$1.2B from$6.7B in Q2.This was largely driven by Herc Holdings$5.3 billion acquisition of H&E Equipment Services in the prior quarter coupled with a general shift in mix

5、 to smaller sized deals in Q3.REPORT CONTRIBUTORSTrevor HulettManaging DRyan HartmanSenior ACONTENTS3 Global Deal Analytics7 Valuation Multiples10 Leading M&A Deals13 Industry Outlook14 About R.L.Hulett16 Selected Transactions18 Our M&A TeamDax KugelmanAIndustrial Services M&A Update|Q3 2025|Page 3S

6、ource:PitchBook DataGlobal Deal Analytics1177596Of the 220 deals in the Industrial Services sector in Q3,North America was the most active with 129.A notable North American deal(in addition to the Entegra deal mentioned on the previous page)was Stellex Capital Managements$75.0 million acquisition of