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）

In Q3, the S&P 500 Industrial Services Index increased by 4.3%, 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 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 Q