Insight

Facilities & Maintenance Services Update

Read more about M&A activity in this sector

Stephen Guy

Stephen Guy

Managing Director, KPMG Corporate Finance LLC

+1 410-949-8909

Facilities & Maintenance Services Overview

Global maintenance services industry participants include providers of facilities, security, and other routebased and support services

Sub-sector Public Revenue / EBITDA Multiple Description Key Players
Facility Management Services 1.19x / 14.2x Includes companies offering diversified commercial facility management services
  • Sodexo
  • Aramark
  • ISS
  • EMCOR
  • ABM Industries
  • Comfort Systems USA
  • UniFirst
  • SP Plus
Route-Based Facility Services 3.62x / 17.5x Companies offering route-based environmental and facilities services
  • Securitas
  • Ecolab
  • Cintas
  • Iron Mountain
  • Rentokil Initial
  • The Brink's Company
  • BrightView Holdings
Route-Based Waste Services 4.96x / 19.4x Companies offering route-based environmental and facilities services
  • Waste Management
  • Republic Services
  • Waste Connections
  • GFL Environmental
  • Stericycle
  • Casella Waste Systems


Sector Perspectives

The Facilities & Maintenance Services Industry Is a $42B Market Poised for Significant Growth

  • The global market size is estimated to reach a value of $42 billion in 2021 and is projected to grow at a CAGR of 9.23% during the forecast period till 2030
  • The increase in demand is due to increased government spending and the proliferation of technology on industries, such as transportation, energy, and construction
  • Integration of building information modeling software with facility management solutions is expected to offer a growth opportunity for the market during the projected period


 

Source: Market statistics sourced from S&P Capital IQ and based on 12/31/2021, Quince Market Insights


Facilities & Maintenance Services Public Markets Update

  • Sub-segment indices varied in performance in 2021 relative to the S&P 500
    • Facility Management Services (+15.4%) and Route-Based Facility Services (+17.2%) lagged the S&P 500 (+26.9%)
    • Route-Based Waste Services outperformed the S&P 500 (+31.1%)
  • As of December 31, 2021, the mean EV/LTM EBITDA multiples for Facility Management Services, Route-Based Facility Services, and Route-Based Waste Services were 14.2x, 17.5x, and 19.4x, respectively


Indexed Stock Performance (1/1/2021 through 12/31/2021)


 


 

 

Financial Metrics2 for Facilities & Maintenance Services Peer Groups (12/31/2021) 

LTM Gross Margin

LTM EBITDA Margin

EV/LTM Revenue

EV/LTM EBITDA


Source: Market statistics sourced from S&P Capital IQ

Footnotes

  1. Valuation Multiples represent Enterprise Value to LTM Revenue and LTM EBITDA at 9/30/2021
  2. Financial metrics represent the average of constituents reporting in category


We hope you find this information valuable, and as always, feel free to reach out if you would like to discuss in further detail. To read the full report, download the PDF below.


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