Industry Insights
Explore how buyers assess value, risk, and opportunity across a range of industries—and what those perspectives mean for business owners.
Market Intelligence
What is your company worth? Is now the right time to sell? How can you increase your company's value? True North M&A's Industry Insights library answers these questions with proprietary data on industry trends, valuation ranges by EBITDA level, buyer and seller activity, and strategies to build value before a sale.
Browse reports by industry sector, SIC code, or NAICS code below. Download a report and an industry-expert M&A advisor will walk you through what it means for your company. Don't see your industry? Contact our advisors and we'll build a custom report for you.
Business, Professional & Financial Services
7 SectorsSIC 8721 / NAICS 541211
Accounting, Audit & Tax Advisory Firms
Planning a CPA practice sale? Understand tax practice valuations and how to structure partner succession.
SIC 7361 / NAICS 561311
Employment Placement, Staffing & Recruitment Agencies
Analysis of current valuation multiples, buyer profiles, and transition opportunities for employment placement agencies firms.
SIC 7361 / NAICS 561312
Executive Search & Retained Recruitment Services
Retained executive search firms trade near 4.5x-5.5x EBITDA; learn what sets boutique firms apart.
SIC 7389 / NAICS 541410
Interior Design Services & FF&E Procurement (Commercial)
Hospitality, senior living, and repeat developer work help commercial interior design and FF&E firms build value.
SIC 7389 / NAICS 522320
Payment Processing & Merchant Services
Residual portfolios and recurring processing volume are the foundation of payment processor and merchant services valuations.
SIC 6512 / NAICS 531312
Property Management Services (Commercial)
Analysis of current valuation multiples, buyer profiles, and transition opportunities for commercial property management services firms.
SIC 6282 / NAICS 523940
Registered Investment Advisors (RIA) & Advisory Practices
How are RIAs valued? AUM multiples and rollover equity structures shape aggregator deals.
Technology & Tech-Enabled Services
1 SectorManufacturing & Industrial Services
8 SectorsSIC 3523 / NAICS 333111
Agricultural, Turf & Farm Machinery Equipment Manufacturing
Near 12x EBITDA, agricultural and turf equipment platforms are valued on precision agriculture and dealer reach.
SIC 2899 / NAICS 325998
Specialty Chemical Manufacturing & Blending (Personal Care & Cleaning)
Specialty chemical blenders serving personal care and cleaning brands can earn clean-label and reshoring premiums.
SIC 3993 / NAICS 339950
Promotional Products & Crystal Awards Manufacturing (Commercial)
Analysis of current valuation multiples, buyer profiles, and transition opportunities for graphic design & promotional products firms.
SIC 3679 / NAICS 334419
Electronic Cable Assemblies & Wire Harness Manufacturing
EV and ADAS demand, certifications, and OEM agreements drive wire harness and cable assembly valuations.
SIC 3199 / NAICS 316990
Equestrian Products & Equine Equipment Manufacturing
Analysis of current valuation multiples, buyer profiles, and transition opportunities for equestrian equipment supplier firms.
SIC 8711 / NAICS 541330
Automation, Robotics & Controls Engineering Services (Industrial)
Robotics, machine vision, and predictive maintenance are raising the value of industrial automation and controls firms.
SIC 3535 / NAICS 333922
Material Handling Equipment Manufacturing (Lifting & Rigging)
Aftermarket parts and service revenue make lifting and rigging equipment manufacturers especially attractive to buyers.
SIC 3451 / NAICS 332721
Precision Manufacturing & CNC Machining (Aerospace & Defense)
Which buyers are most active in aerospace and defense machining? See CNC shop valuations and sentiment.
Trades, Home Services & Facility Services
10 SectorsSIC 7538 / NAICS 237310
Auto Repair & Automotive Aftermarket Service Centers
Analysis of current valuation multiples, buyer profiles, and transition opportunities for automotive repair firms.
SIC 7349 / NAICS 238110
Cleaning & Janitorial Services (Commercial)
Commercial cleaning companies trade near 3.75x-4.5x EBITDA, with recurring contracts and customer mix driving value.
SIC 1731 / NAICS 236115
Electrical Contracting & Electrical Services (Commercial)
Analysis of current valuation multiples, buyer profiles, and transition opportunities for commercial electrical contracting firms.
SIC 7382 / NAICS 237130
Fire & Life Safety Systems Inspection, Testing & Maintenance
Analysis of current valuation multiples, buyer profiles, and transition opportunities for fire & life safety firms.
SIC 1711 / NAICS 238220
Heating, Ventilation & Air Conditioning (HVAC) Contractors (Commercial & Industrial)
With private equity add-on demand outpacing sellers, commercial and industrial HVAC contractors hold strong negotiating leverage.
SIC 0782 / NAICS 561730
Landscaping, Lawn Care & Grounds Maintenance
Analysis of current valuation multiples, buyer profiles, and transition opportunities for landscaping services firms.
SIC 1711 / NAICS 236118
Mechanical, Electrical & Plumbing (MEP) Contracting (Commercial)
Explore how data center cooling and building automation are lifting commercial MEP contractor valuations.
SIC 7342 / NAICS 561710
Pest Control & Extermination Services
Analysis of current valuation multiples, buyer profiles, and transition opportunities for pest control firms.
SIC 1761 / NAICS 238160
Roofing Installation, Repair & Replacement (Commercial)
Because re-roofing is non-discretionary, commercial roofing contractors with service revenue attract active consolidators.
SIC 1799 / NAICS 238990
Soft Craft Industrial Services (Insulation, Scaffolding, Coatings & Fireproofing)
Analysis of current valuation multiples, buyer profiles, and transition opportunities for soft craft industrial services firms.
Construction & Engineering
8 SectorsSIC 8712 / NAICS 541310
Architecture Firms & Architectural Design Services
Serial consolidators keep acquiring AEC practices, and architecture firm valuations climb with scale.
SIC 1611 / NAICS 237310
Asphalt Paving & Pavement Maintenance Contracting
How much is an asphalt paving contractor worth? DOT backlogs, infrastructure funding, and union labor matter.
SIC 8711 / NAICS 541330
Civil Engineering & Site Development Consulting
From water and energy to data center site work, civil engineering firms are in demand.
SIC 1771 / NAICS 238110
Concrete & Masonry Contracting
Federal IIJA, IRA, and CHIPS Act spending is fueling steady demand for concrete and masonry contractors.
SIC 1542 / NAICS 236220
Construction & General Contracting (Commercial)
General contractor valuations hinge on data center and power work, labor availability, and input cost inflation.
SIC 1521 / NAICS 236115
Homebuilding & Luxury Construction (Custom, Residential)
Luxury and custom homebuilders can command premiums to book value as the housing shortage persists.
SIC 1623 / NAICS 237130
Horizontal Directional Drilling (HDD) for Fiber, Telecom, Utility & Municipal Infrastructure
Thanks to BEAD funding and 5G deployment, directional drilling contractors are seeing strong buyer interest.
SIC 1781 / NAICS 237110
Non-Oil Drilling Services (Water Well & Water/Wastewater Drilling)
Analysis of current valuation multiples, buyer profiles, and transition opportunities for non-oil drilling services firms.
Energy & Natural Resources
2 SectorsSIC 5172 / NAICS 424720
Fuel & Fluid Services (Fuel Delivery & Lubricants)
Analysis of current valuation multiples, buyer profiles, and transition opportunities for fuel & fluid service firms.
SIC 1731 / NAICS 238210
Solar Power Installation & Solar EPC Contracting (Commercial)
Valuations for commercial solar installers range from 2.0x-8.5x EBITDA as clean energy tax policy shifts.
Distribution & Wholesale
4 SectorsSIC 5141 / NAICS 424410
Wholesale Distribution (Regional, Frozen Food & Paper Products)
For regional frozen food and paper distributors, route efficiency and warehouse utilization drive valuation.
SIC 5084 / NAICS 423830
Equipment Distribution & Dealer Networks
Parts, service, and rental revenue, plus exclusive territories, determine what equipment dealers are worth.
SIC 5032 / NAICS 423320
Natural Stone Wholesaling (Granite, Marble & Quartz Slabs)
Granite, marble, and quartz slab distributors face shifting valuations as countertop demand and tariffs evolve.
SIC 5031 / NAICS 423310
Lumber, Plywood & Millwork Wholesale Distribution
National consolidators are acquiring pro dealers, reshaping how lumber and building materials distributors are valued.
Healthcare
5 SectorsSIC 8093 / NAICS 621420
Behavioral Health, Outpatient Mental Health & Substance Abuse Treatment
Expanding telehealth and payer reimbursement are drawing buyers to behavioral health and addiction treatment providers.
SIC 8021 / NAICS 621210
Dental Practices & Dental Service Organizations (DSO)
Retiring dentists can maximize value through a competitive sale process as DSOs compete for quality practices.
SIC 8082 / NAICS 621610
Home Health Care & Homecare Agency Services
As aging-in-place demand grows, home health agencies must weigh valuation upside against reimbursement risk.
SIC 8049 / NAICS 621399
Medical Spas & Aesthetic Services
Membership revenue and injectables drive med spa value as aesthetics platforms continue consolidating the market.
SIC 8011 / NAICS 621111
Orthopedic & Spine Surgery Practices
ASC ownership, MSO structures, and outpatient migration are reshaping how orthopedic and spine practices are valued.
Consumer, Hospitality, & Retail
1 SectorFood, Beverage & Agribusiness
2 SectorsSIC 2099 / NAICS 311999
Egg Processing & Egg Products Manufacturing (Commercial)
Analysis of current valuation multiples, buyer profiles, and transition opportunities for commercial egg processing firms.
SIC 5148 / NAICS 424480
Fresh Produce Distribution & Wholesale Fruit and Vegetable Supply
Cold chain capabilities, channel mix, and import sourcing set the value of fresh produce distributors.
