Resilient deal activity. Private equity consolidation. Regulatory-driven demand.
Despite political uncertainty and regulatory recalibration, ESG consulting M&A remained highly active through 2025. Structural sustainability trends, investor expectations, and reporting requirements continue to underpin strong demand for ESG advisory, engineering, and tech-enabled services.
Based on analysis of ESG consulting transactions since 2021, Equiteq’s ESG Consulting M&A Report provides a comprehensive view of deal activity, valuation benchmarks, and the evolving dynamics shaping the global ESG consulting market.
Key Findings
- 615 ESG consulting M&A transactions completed since 2021
- Deal volumes up 33% year-on-year in 2025, defying macro headwinds
- ~56% of transactions driven by Private Equity or PE-backed platforms
- 73% of acquired firms had fewer than 100 employees, highlighting a highly fragmented market
- Median private market valuation of ~11.3x EV/EBITDA
- Public market valuations rebounded to ~14.2x EV/EBITDA, exceeding private market multiples
- ESG consulting market forecast to reach $84bn by 2028, growing at ~8% CAGR
- Deal activity concentrated in North America and Western Europe, led by the US and UK
Market Outlook
The ESG consulting market continues to benefit from powerful long-term tailwinds, including climate transition, sustainability reporting requirements, supply-chain transparency, and investor scrutiny. While near-term regulatory uncertainty in the US and Europe has moderated growth expectations, enterprise demand for ESG services remains strong.
M&A activity is being driven by private equity buy-and-build strategies, strategic consolidators expanding sustainability capabilities, and increasing demand for ESG reporting, compliance, and data-driven solutions. Fragmentation across the ESG ecosystem continues to create significant consolidation opportunities.
What’s Inside the Report
- Global ESG consulting market overview and growth outlook
- ESG consulting M&A trends and deal activity from 2021–2025
- Private Equity vs strategic buyer activity and consolidation strategies
- Valuation benchmarks across consulting, engineering, software, and TIC services
- Analysis of ESG reporting, compliance, and tech-enabled services M&A
- Outlook for ESG consulting M&A, valuations, and regulation in 2026 and beyond
Download the ESG Consulting M&A Report 2026 to understand where capital is flowing, how valuations are evolving, and what the next phase of consolidation looks like across the ESG consulting market.