REPORT INTRODUCTION
Environment Analyst's M&A report provides insights from companies that have been active in the market, as well as the brokers who manage the deals, on the latest trends, the challenges and dynamics of deal making, and what the future holds.
We also reveal what our own data on M&A activity among the leading companies – which we track for our highly-respected market assessments – is showing.
The accompanying data-pack includes information on 495 deals from 2019-2024, providing a comprehensive, but not exhaustive, list of mergers, acquisitions, and divestments made by key players in the wider professional services ecosystem. The deals we cover are either directly and indirectly related to the environmental and sustainability (E&S) sector.
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FEATURING INSIGHTS FROM

Environment Analyst’s definition of environmental & sustainability consulting is:
"The provision of specialist technical, management, risk, analytics and strategic advisory services to help organisations understand, manage, and minimise their impacts to protect and enhance the environment and communities, and proactively respond to climate change, the nature crisis and associated impacts.”
OUR MARKET DEFINITION
WHY DO YOU NEED THE REPORT
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Discover the strategies of companies driving growth through acquisition, including which service areas are most sought after, and how they’re integrating newly-acquired assets
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Understand how multiples are expected to continue their upward trajectory for the foreseeable future
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Learn what leading brokers in the E&S consultancy sector are seeing in the market
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Get insights on the outlook for M&As
HEADLINE FINDINGS
M&A activity is expected to pick up again in 2025, after a quieter 2024 (although economic and market uncertainty may still come into play).
A key driver is the need to offer clients diversified yet integrated services in the E&S consulting space. This is pushing demand up for niche players.
Even though there are thousands of companies operating in the space, it is a sellers market, with multiples expected to continue their upward trajectory.
There is a growing trend for micro acquisitions. The buyside is getting better at acquiring smaller firms and integrating them into their organisations.
Top ten companies by global acquired E&S consulting revenues, by year, $m

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COMPANIES OUR DATA COVERS
The report includes information on the companies profiled for our annual Market Assessments.
Global and US market assessments include: AECOM, Anthesis Group, Antea Group, Apex Companies, APTIM, Arcadis, Arup, AtkinsRéalis, Aurecon, Burns & McDonnell, EA Engineering, Environmental Resources Management (ERM), GHD, HDR, ICF, Inogen Alliance, Jacobs, Kleinfelder, Montrose Environmental, Mott Macdonald, NV5, Ramboll, Royal HaskoningDHV, RSK Group, SLR Consulting, Stantec, SWCA, Sweco, TAUW, Terracon, Tetra Tech, TRC Companies, Woodard & Curran, Worley Consulting, WSP.
Additional companies profiled for the UK market assessment: APEM, Arup, Bureau Veritas, JBA Consulting, Logika Group, LUC, Lucion Group, Ricardo, Temple Group.
INDEPENDENT MARKET INTELLIGENCE
Our actionable market intelligence is used by 15,000+ professionals worldwide to inform their business and investment strategies. Learn more about how our customers use our insights below.
"We base lots of our decisions on the information Environment Analyst shares every year, and it helps us determine the direction of our business. It's the anchor of our business strategy."
Itza Acosta, VP I Global Head of Marketing and Communications, Earth and Environment at WSP
"Environment Analyst provides critical insights into the evolving landscape and trends within the environmental and sustainability consulting industry. The comprehensive data presented in their market intelligence reports helps us stay informed and ahead of the curve, ensuring we can effectively advise our clients on navigating complex ESG challenges and achieving their business goals.”
Raimond Baumans, Chief Marketing Officer at Antea Group USA
“RSK greatly values the research and data-supported intelligence gathered by Environment Analyst for its Global Market Assessment report. The comprehensive dataset supports our own analysis of the global picture including specific regional and sector trends that may be factored into our M&A strategy.”
Jessica Sparkes, Group Strategy, Communications & Marketing Director at RSK