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Corporate Finance

Testing, Inspection and Certification (TIC) M&A and valuations

Supporting compliance-driven businesses to maximise value and achieve successful outcomes.

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TIC deal activity


Market momentum driving TIC M&A activity


A sector defined by structural resilience and sustained investor appetite

The Testing, Inspection and Certification (TIC) sector has established itself as one of the most consistently active segments of the European lower mid-market, exhibiting resilient deal volumes and sustained investor appetite across market cycles. Its defensive characteristics and structural growth drivers continue to underpin strong, continued investor interest with a focus on bolt-on consolidation over large transformational transactions.

This sector’s attractiveness is driven by intensifying regulation, rising technical standards and the increasing cost and complexity of compliance across
infrastructure, construction, industrial processes and regulated services.

Core sector attributes — including recurring revenues, non-discretionary service delivery, high switching disruption and significant market fragmentation — continue to attract premium valuations and long-term capital.

The UK TIC sector saw over 30 deals in Q1 2026 across both PE-backed and listed buyers, reflecting the continued demand for resilient target companies. Explore our recent Corporate Finance Deals for further insight into current market activity.

For owners and management teams, this creates a near-term opportunity to realise value through a sale or to scale strategically ahead of an exit

Key deal drivers shaping TIC M&A activity 2026


Regulatory intensity

Compliance pressures are increasing across construction, pharmaceuticals, healthcare, food and environmental services, driving sustained demand for TIC capabilities.

Platform consolidation

PE-backed platforms and strategic consolidators continue to drive activity, executing buy-and-build strategies across fragmented TIC sub-sectors.

Digitisation and technology

Buyers are targeting businesses that can digitise and streamline the compliance cycle, improving efficiency, scalability and data-driven decision making.

Integrated servicing

Leading TIC businesses are evolving to deliver end-to-end solutions, resolving issues at the point of service rather than simply reporting compliance failures.

Aligning growth with exit timing


Buidling momentum ahead of an exit

For management teams planning a medium-term exit, 2026 presents a compelling opportunity to:

  • execute targeted bolt-on acquisitions at attractive entry multiples before consolidation compresses availability
  • enhance capability breadth and defensibility, geographic coverage or complementary technical disciplines
  • strengthen recurring revenue quality and strategic market positioning
  • demonstrate the scalable, platform-ready characteristics that consistently command premium outcomes.

Platforms that anticipate regulatory evolution, embed technology-led delivery models and provide integrated, client-centric solutions are best positioned to differentiate—unlocking valuation upside through both strategic scarcity and demonstrable scalability.

Preparing for a near-term transaction

For shareholders considering an exit in the next 12 to 36 months, current conditions are supportive of:

  • sustained buyer demand for regulated, compliance critical services across all TIC sub-sectors
  • competitive processes driven by both PE-backed consolidators and strategic trade buyers
  • premium valuations for businesses with strong accreditations, recurring revenues and digitised service delivery
  • flexibility around deal structures, including minority rollovers and phased exits.

Buyer behaviour continues to evolve, with investors engaging earlier in the lifecycle to secure high-quality assets before a formal process begins. Sellers should consider advisor support to drive competition and protect value.

Areas of enhanced buyer focus

These sub-sectors benefit from structural insulation from economic cycles, driven by regulation and long-term compliance obligations.

Testing

  • Materials and product testing
  • Food and agriculture
  • Environment
  • Life sciences
  • Electrical and electronics
  • Automotive testing
  • Non-destructive testing

Inspection

  • Statutory inspections
  • Building and fire safety
  • Asset integrity
  • Health and safety
  • Environmental and renewables
  • Vehicle and transport
  • Digital/Remote

Certification

  • Management systems
  • Product certification
  • Food safety
  • ESG and sustainability
  • Supply chain compliance
  • Aerospace
  • Materials and product testing
  • Food and agriculture
  • Environment
  • Life sciences
  • Electrical and electronics
  • Automotive testing
  • Non-destructive testing
  • Statutory inspections
  • Building and fire safety
  • Asset integrity
  • Health and safety
  • Environmental and renewables
  • Vehicle and transport
  • Digital/Remote
  • Management systems
  • Product certification
  • Food safety
  • ESG and sustainability
  • Supply chain compliance
  • Aerospace

Services

How we can help


Crowe UK provides integrated deal advisory services with a strong emphasis on commercial value, execution certainty and outcomes.

Our team combines transaction experience, sector insight and financial rigour to support clients at every stage of the deal lifecycle, from strategy and preparation through to execution and completion.

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Capital Markets

Supporting businesses considering equity raises, shareholder liquidity events and capital structuring, helping position them clearly and credibly for investors, funding discussions and long-term sustainable growth.

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Mergers and Acquisitions (M&A)

Advising on buy-side and sell-side transactions, supporting teams and shareholders with target identification, buyer sourcing, process management and negotiation, maximising value and achieving strategic outcomes.

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Valuations

Delivering robust business valuations for statutory and transactional purposes, including purchase price allocations, providing clear insights that support decision-making, reporting requirements and stakeholder confidence.

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Due diligence

Going beyond the numbers to assess earnings quality, cashflow, working capital and key commercial risks, providing useful insights to support negotiations, manage risk and inform post-deal planning.

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Modelling

Developing flexible financial models to evaluate scenarios, assess performance and support strategic decisions, combining technical accuracy with commercial insight to provide clarity in complex situations.
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Debt advisory

Advising on debt raising, refinancing and capital structure optimisation, supporting lender engagement and funding strategy to ensure financing solutions align with business objectives and transaction requirements.

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Matteo Timpani
Matteo Timpani
Partner, Head of Corporate FinanceLondon