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Q4 transaction volume remained consistent with 78 transactions completed.

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

  • Facility services was the most active sub-industry accounting for 27% of transactions in the quarter.
  • Most transactions involve regional service providers being acquired by active strategic players in the same category.
  • Financial sponsor transaction data supports average year to date EV/EBITDA multiples at 7.1x, slightly down from 2022.
  • Public companies followed the positive trend of the overall S&P in Q4 supporting room for accretive transactions by public companies and general economic confidence supports increasing private market valuations.

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
jellis@cccinvestmentbanking.com

Connor Irwin-Lewis
Analyst, Toronto
cirwin-lewis@cccinvestmentbanking.com

Commercial Services Review Q3 2023

Commercial Services Review Q4 2023