Testing, Inspection & Certification – Sector Report

TIC valuations at historic highs. For how much longer?

The M&A market for Testing, Inspection, Certification (TIC) has become even more favorable for sellers: a large number of transactions and valuation multiples are at historic highs, as trade-buyers target external growth and Private Equity (PE) eagerly pursue buy & build projects. We expect buy-side demand to remain extremely supportive in what is still a widely fragmented industry, where all of the large and mid-sized players are targeting double-digit growth rates.

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