Skip to main content

Q3 transaction volume increased 5%, with 81 transactions completed.

Commercial services continues to be an active segment for M&A transactions.

  • Facility services was the most active sub-industry accounting for 25% of transactions in the quarter and 60 transactions YTD.
  • Most transactions were smaller regional service providers, with one large (USD$1.3 bn) transaction in Environmental Services.
  • Financial sponsor transactions see year to date EV/EBITDA multiples grow to 7.8x on average.
  • Public companies followed the downward trend of the overall S&P.

Please reach out to the Commercial Services leads to discuss the latest trends impacting this business segment and key features driving value in M&A transactions.

Josh Ellis
Vice President, Toronto

Connor Irwin-Lewis
Analyst, Toronto

Commercial Services Review Q3 2023

Commercial Services Review Q3 2023