M&A activity down in Q2 industrial manufacturing
Second quarter U.S. industrial manufacturing M&A activity declined with 368 transactions, down from 397 in Q2-24, according to PMCF’s Investment Banking’s latest Industrial Manufacturing M&A Pulse.
Global activity saw a similar downturn, falling to 1151 transactions from 1257 in 2024, according to PMCF.
Financial buyer transactions, however, rose 32.1% globally and 22.2% in the U.S. in Q2-25 compared to the same quarter the previous year. This increase reflects the continued abundance of available capital, improved financing conditions and growing interest from financial buyers in acquiring scalable industrial platforms, driven by both organic growth opportunities and inorganic consolidation potential.
Additionally:
- Global strategic buyer transactions declined 22.0% in Q2-25 compared to the same period in 2024, as many active acquirers put M&A plans on hold amid uncertainty around trade policy, an issue that directly affects deal pricing, supply chains and long-term integration planning.
- The PMCF Industrial Manufacturing Public Equities Index saw its median Enterprise Value to Earnings Before Interest, Taxes, Depreciation and Amortization (EV/EBITDA) multiple rise to 9.9x in Q2-25, up from 9.0x in the previous quarter and 9.4x in Q2-24.
INDUSTRIAL SUPPLY MAGAZINE
The September/October issue of Industrial Supply magazine features an in-depth cover story about American Producers Supply. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
