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）（22页）.pdf

1、Environmental Services M&A UpdateQ3 2025REPORT CONTRIBUTORSFor 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.REPORT HIGHLIGHTS In Q3,the NYSE Arca Environmental Services Index increased by 1.6%,but was

2、 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 15.0 x 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

3、 to 153 deals from 135 in Q2 and increased 3.4%from 148 deals in Q3 of the prior year.As a%of total capital invested in M&A transactions,PE participation increased in YTD 2025 to 79.7%from 31.2%in 2024.North America was the most active region in Q3 with 74 deals.Most notably in North America was Toy

4、ota Tsusho Americas$1.3 billion acquisition of Radius Recycling,a Portland-based provider of recycling services for ferrous and nonferrous metal,in July 2025.CONTENTS3 Global Deal Analytics7 Valuation Multiples10 Leading M&A Deals13 Industry Outlook14 About R.L.Hulett16 Selected Transactions18 Our M

5、&A TeamEnvironmental Services M&A UpdateQ3 2025Trevor HulettManaging DRyan HartmanSenior ADax KugelmanAEnvironmental Services M&A Update|Q3 2025|Page 3Source:PitchBook DataGlobal Deal Analytics6362125Of the 153 deals in the Environmental Services sector in Q3,North America was the most active with 7

6、4.A notable North American deal(in addition to the Radius Recycling deal mentioned on the previous page)was Pritzker Private Capitals$1.0 billion acquisition of Buckman Laboratories,a Memphis-based developer of chemical technology designed to improve sustainability,in July 2025.Europe was the second