Facilities Management

Value, transformation and opportunity in M&A

Download Report
Woman looking at phone

Facilities management: value, transformation and opportunity in M&A

Facilities Management (FM) is a dynamic and rapidly evolving industry, critical to keeping organisations running efficiently and sustainably.

Despite a challenging geopolitical and economic backdrop, FM M&A activity has continued to accelerate — with deal volumes reaching an all-time high in 2025. Investors are seeking resilient business models and FM fits that profile perfectly.

Our latest report examines the market in depth, unpacking the sectors driving growth, the buyers shaping the landscape and the trends defining the next phase of FM investment.

Deal trends

M&A activity in FM has risen steadily over the last decade, with more than 1,750 deals completed in the past twelve years. This long‑term trajectory highlights the sector’s resilience and the ongoing appetite for consolidation, capability enhancement and strategic expansion.

Deal volumes are rising impressively

Buyer dynamics

Deal appetite remains strong across both strategic buyers and financial investors, despite more rigorous processes and extended timelines. The sector’s scale, fragmentation and regulated nature create a compelling opportunity for:

  • Trade buyers, expanding capability and market reach
  • Private equity, increasingly acquiring platforms to consolidate technical services and compliance-led markets

Financial investors, in particular, are deepening their focus on technical services, compliance, and areas where long-term, recurring revenues offer stability and value creation—with operational value creation now an essential part of the assessment process.

Value Drivers

Sector trends

Hard and technical services increasingly dominate. Building maintenance and M&E deals saw a 24% uplift in 2025, and these transactions now make up 50% of all FM deals — up from 31% in 2021 and around 41% in 2024.

  • A hotbed for M&A, driven by tighter regulation, regular inspection requirements and the push for smarter, integrated buildings
  • Fragmented downstream in installation, maintenance and monitoring, which creates significant consolidation opportunities
  • Rapid consolidation across water, building maintenance and critical safety markets, which provide sticky revenue profiles and resilient business models
  • Notable deals in public housing compliance, environmental compliance and lift maintenance
  • Sustainability capabilities and credentials are often a key requirement in FM procurement
  • FM providers are expanding into decarbonisation, energy efficiency, retrofit and compliance services
  • Trade acquirers dominate, with most now looking for total FM capabilities or specialised niches
  • Plenty of innovation, with digital capabilities increasing value, including alerts, real-time reporting and preventative maintenance data
  • Market players are consolidating and diversifying activities into specialist services such as arboriculture
  • Strong alignment with sustainability goals, including biodiversity, carbon reduction and water conservation

Growth opportunities

Opportunities abound for innovative providers that bring together scale, data, AI and automation to deliver resilient services and energy savings. With ample dry powder and a clear need for capability, FM remains a compelling space for strategic buyers and investors looking to drive value, transformation and opportunity. 

Download our report and watch our webinar to explore the full findings.

DOWNLOAD REPORT

WATCH WEBINAR

Available to clients and prospective clients of the firm


Related Insights

Request Facilities Management report

Available to clients and prospective clients of the firm

Please refer to the Introduction to our Privacy Statement and the Contacts section, which tell you what we do with your personal information, your rights and other relevant information.