Through Q1 2026 North American M&A volume totaled 3,780 transactions with total deal value of $936 billion.
Within the Industrial sector, there were 251 transactions in Q1 2026, compared to 194 transactions in Q1 2025, representing an 29.4% increase from last year.
Public Company Performance
Public company EV/EBITDA multiples increased slightly since last quarter with a median industrial multiple of 13.5x in Q1 2026 compared to 13.2x in Q4 2025. The median EV/EBITDA multiple in Q1 2025 was 12.8x.
After Q1 2026, only one of the industrials sub-sectors (Industrial Technology) outperformed the S&P 500 over the past five years.
