2026年春季北美工业与商业服务行业洞察报告

Industrial andCommercial S p r i n g2 0 2 6 Learn More Industry Highlights Overview Deals reported in the Industrial and CommercialServices sector in 2025 •The North American Industrial and Commercial Services sector experienced anotableaccelerationinM&Aactivityin2025,withtotaltransactionsincreasingby •As tariff-related uncertainty disrupted manufacturing activity,growth shiftedmeaningfullytoward the services economy.Industrial services demonstrated Increasein YoY deal activity between 2024 and2025, which represents an11.9% outperformancerelative to broader M&A activity Service-orientedbusinessactivityremainsrobustandnowrepresentssomeofthemostprominentandattractivethemesinprivateequityinvestmentinto2026 •Buyerintereststrengthenedsignificantlyinthesecondhalfof2025,supportedbyeasinginterest rates,improving overall buyer confidence and a strategic pivottowardsectors less exposed to tariffs.The Industrial and Commercial Services Stock underperformance below the S&P 500 forIndustrial and Commercial Services sectorfromJanuary 2024 to March 2026 Overall,2025markedthehighestlevelofM&AactivityintheIndustrialandCommercialServicessectorsince2021,withYoYdealvolumegrowthexceeding AggregateMedian EV1/ LTM2EBITDA multiple withinIndustrial and CommercialServicessector •Thethreeconsecutivefederalfundsratecutsinlate2025loweredborrowingcostsandboosteddealmakerconfidence,improvingfinancingconditionsforM&A.Withpolicymakerssignalingfurthereasinginto2026,thissupportivedealenvironmentis Market Update Industrial and Commercial Services Public Markets Update Sector Spotlight:Eventand Trade ShowServices Event Organizers •Exhibit houses design, fabricate and manage custom trade show boothsand experiential environments, providing clients with tailored physicalassets for events 10 Robust M&A Activity in the Event and Trade Show Services Space The event and trade show services sector continues to see robust M&A activity, driven by demand for integrated end-to-endcapabilities, expanded geographic reach and scaled creative, digital and production offerings Looking ahead, strong M&A activity is expected to continue, as more companies enter the market and drive further consolidation–creatinglarger, more integrated platforms that are well-positioned to capture growth and meet rising client demand Evolving Industry Dynamics and Prospective Buyer Needs Preparing for a Sale–Buyer Focus Areas Key Industry Trends To prepare effectively for a sale, shareholders and management must beready to address the critical questions potential buyers will raise. Increasing Importance of In-Person Engagement–The return ofin-person events since COVID-19 has been significant, as many companies have recognized the value of face-to-face engagement The following areas represent the core focus points that typically guidebuyer due diligence throughout an M&A process in the event servicessector: Rise of Corporate Events–While the event industry hastraditionally been anchored in trade associations and large industryconferences, an increasing number of companies are now hosting Demand for One-Stop-Shop Event Contractors–Generalcontractors are increasingly expanding beyond their traditional roles and offering agency-style event design services, a trendreflected in consolidation across the sector with acquisitions such Consolidation of Assets Across Event Organizers–Large eventorganizers have been highly active in acquiring new shows, drivingrapid consolidation across the industry as portfolios increasinglyconcentrate under a small number of major players, including For more information please visit: Kroll.com A bo u t Kro ll