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Sector · Utilities

Recent Utilities M&A deals

Recent transactions classified within the Utilities sector. Use the table below as a starting point for sector mapping or precedent work.

Deals in this slice
3,266
Public & account-only records combined
Year range
2026
Across the visible recent transactions
Shown below
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Recent transactions

Public snapshots in Utilities

Target Buyer / Investor Sector Geo Transaction size EV / EBITDA
The Superior Group MasTec Electric Utilities (NEC) $1,650M 10× – 13×
CSA srl Wateralia S.p.A., Ambienta Water Pumps, Ambienta IV, Ambienta SGR Water Supply & Irrigation Systems $27.1M – $36.0M 6× – 8×
Neoenergia Transmissão Neoenergia Electric Utilities (NEC) $322M 0×
CSA S.r.l. Wateralia, Ambienta SGR S.p.A. Water & Related Utilities (NEC) $15.0M – $20.3M 7× – 9×
Joint venture with Mitsubishi Electric Corp. ABB Ltd. Electric Utilities (NEC) $495M 5× – 7×
Dresser Utility Solutions Blackstone Energy Transition Partners V LP Water & Related Utilities (NEC) $7,000M 21× – 28×
Ecologica Piemontese Vela Equity Partners Water & Related Utilities (NEC) $13.0M – $17.6M 6× – 7×
CSA Ambienta’s Wateralia Water Supply & Irrigation Systems $18.0M – $24.3M 6× – 8×
Process Instruments WTR Group, Aspira Partners Water & Related Utilities (NEC) $6.8M – $9.2M 6× – 8×
Cleanaway Waste Management Sedum Group, funds managed, operated and/or advised by the EQT AB Group Sewage Treatment Facilities $0.0M 10× – 14×
Showing 10 of 3,266 records in this slice. Create a free account for the full view.
Valuations

Valuation multiples in Utilities

Bins are observed deal frequencies across disclosed transactions. Use as a directional reference, not a target valuation.

Mature companies

EV / EBITDA

6.0×
33
6.5×
63
7.0×
124
7.5×
123
8.0×
127
8.5×
151
9.0×
56
9.5×
56
10.0×
73
10.5×
41
11.0×
35
11.5×
36
12.0×
19
12.5×
24
Mean
8.76×
Median
8.50×
P25
7.56×
P75
9.67×
P90
11.25×

EV / EBIT

8.0×
31
8.5×
64
9.0×
69
9.5×
53
10.0×
136
10.5×
96
11.0×
101
11.5×
78
12.0×
53
12.5×
61
13.0×
44
13.5×
40
14.0×
36
14.5×
19
15.0×
27
15.5×
16
16.0×
17
16.5×
9
17.0×
7
Mean
11.46×
Median
11.21×
P25
10.00×
P75
12.68×
P90
14.48×

EV / Revenue

0.8×
161
1.0×
207
1.3×
106
1.5×
151
1.8×
79
2.0×
68
2.3×
38
2.5×
62
2.8×
24
3.0×
22
3.3×
7
3.5×
12
3.8×
13
4.0×
7
4.3×
4
Mean
1.66×
Median
1.50×
P25
1.08×
P75
2.00×
P90
2.71×
Early-stage & growth companies

EV / Revenue

1.0×
3
1.3×
11
1.5×
7
1.8×
5
2.0×
6
2.3×
1
2.5×
3
2.8×
1
3.0×
3
3.3×
1
3.5×
5
3.8×
2
4.0×
2
4.3×
2
4.5×
5
4.8×
3
5.0×
4
5.3×
4
5.5×
4
5.8×
7
6.0×
5
6.3×
2
6.5×
6
6.8×
2
7.0×
4
7.3×
2
7.5×
5
7.8×
3
8.0×
3
8.3×
6
8.5×
1
8.8×
3
9.0×
2
9.3×
1
9.5×
1
10.0×
2
10.3×
1
10.5×
2
10.8×
1
11.3×
1
12.0×
2
12.3×
1
13.3×
1
13.5×
3
13.8×
2
14.0×
2
14.3×
1
14.5×
1
15.0×
2
16.0×
3
Mean
6.25×
Median
5.86×
P25
3.03×
P75
8.31×
P90
12.46×

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