Consolidators fuel expansion into new verticals and geographies
TICC Newsletter
In the past twelve months, the TICC sector has continued to demonstrate strong M&A activity, despite ongoing global macroeconomic and geopolitical uncertainty. While recent geopolitical tensions, including developments in the Middle East, have contributed to broader market volatility, their direct impact on the TICC sector has remained relatively limited.
Deal volumes over the last twelve months have exceeded the average levels observed since 2023, underlining the sector’s sustained momentum and strong underlying fundamentals. M&A activity continues to be predominantly driven by leading consolidators, with the top 10 accounting for 42.8% of transactions in the LTM period and the top 15 for 50.5%.
As our TICC specialist, Tijn Bastiaans, reveals in our latest newsletter, key players such as Phenna Group, SGS, Normec Group, Celnor, Kiwa, Certania and Sansidor remain highly active, each completing more than 10 transactions in the LTM period, with Phenna Group exceeding 30 transactions.
Over the past decade, we have seen significant activity from large consolidators, primarily in Continental Europe and the UK, as well as within established verticals. While this trend continues, with ample opportunities for further organic and inorganic growth, consolidators are increasingly expanding into new verticals and geographies, such as the US, to accelerate growth and to maintain their acquisition pace.TIJN BASTIAANS, HEAD OF BUSINESS SUPPORT SERVICES AND PRIVATE EQUITY COVERAGE OAKLINS NETHERLANDS
You can also read an interview with Luc Leroy, CEO of Kiwa, regarding the group’s buy-and-build strategy.
The newsletter also features the latest trends regarding M&A activity including deal statistics, noteworthy deals and the activity of leading consolidators as well as a case study of a transactions where Oaklins played an advisory role.
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