RL Hulett：2026年第一季度全球机械、电气与管道服务行业并购市场研究报告（英文版）

In Q1, the S&P 500 Construction & Engineering Industry Index increased by 26.2%, outperforming the S&P 500 which saw a 4.8% decrease over the same period. ▪ The median EV/EBITDA multiple for reported private equity deals in the MEP Services sector increased to 8.1x in Q1 from 7.4x in 2025, but decreased for strategic deals to 5.0x from 7.7x in the prior year. ▪ M&A deal volume in the sector decreased 21.7% in Q1 to 390 deals from 498 in Q4 2025, and decreased 28.4% from