RL Hulett：2025年第四季度全球工业领域并购市场研究报告（英文版）

▪ In Q4, the S&P 500 Industrials Index increased by 0.9%, but was outperformed by a 2.0% increase in the S&P over the same period. ▪ The mean EV/EBITDA multiple for reported strategic deals in the Industrial Services sector decreased to 7.0x in 2025 from 8.2x in 2024, while the EV/Revenue multiples for private equity and strategic deals increased to 2.1x and 1.7x from 1.3x and 1.5x, respectively, over the same period. ▪ M&A deal volume in the sector increased 17.3% in Q4 to 258 de