Dutch Technical Services M&A Report | Market Deep Dive

The Dutch technical services market is worth approximately €20bn. Our sector team’s latest report looks at why it is growing, and where the opportunity sits for buyers and operators. 

What the report covers: 

• a market recovering to growth through 2027, after a dip in 2023 and 2024 

• demand underpinned by regulation, including the affordable rent act (Wet betaalbare huur) and national housing targets, making a large share of work non-discretionary 

• a highly fragmented market: the top 10 companies hold 23% of it, yet represent about 1% of the roughly 5,300 companies active in it 

• an active M&A market: 15 or more PE-backed platforms compete for assets, with approximately 85 Benelux targets changing hands in the last two and a half years 

• platform-quality assets trade at 8 to 12x EBITDA; listed technical services peers average 12.1x EV/EBITDA, above the five-year average of 10.9x 

• climate (HVAC) as the fastest-growing domain, with residential the leading end-market 

To request the full report, contact Robert Bosch or Jasper Erhardt.