RL Hulett：2025年第三季度全球环境服务行业并购市场研究报告（英文版）

▪ In Q3, the NYSE Arca Environmental Services Index increased by 1.6%, but was outperformed by a 7.9% increase in the S&P over the same period. ▪ The median EV/EBITDA multiple for reported strategic deals increased to 20.9x in YTD 2025 from 15.0x in the prior year, while no private equity multiples were reported during the period. ▪ M&A deal volume in the sector increased 13.3% in Q3 to 153 deals from 135 in Q2 and increased 3.4% from 148 deals in Q3 of the prior year. ▪ As a % of tot