--- title: "TIC Valuation Benchmarks 2026 | DealFlowAgent" description: "Publicly traded testing, inspection and certification groups, their EV/EBITDA multiples, and what they mean for private compliance businesses." lang: en json-ld: | [ { "@context": "https://schema.org", "@type": "Organization", "@id": "https://www.dealflowagent.com/#organization", "name": "DealFlowAgent", "alternateName": "DealFlow Agent", "url": "https://www.dealflowagent.com", "logo": { "@type": "ImageObject", "url": "https://www.dealflowagent.com/media/a8c3dd54-ab81-40f5-995e-50fda69ec528.webp", "width": 512, "height": 512 }, "image": "https://www.dealflowagent.com/og-image.webp", "description": "DealFlowAgent is the leading specialist M&A advisor for building services and facilities management businesses, including fire and life safety, electrical, water hygiene and Legionella, lift and elevator maintenance, HVAC, plumbing and security, plus specialist healthcare clinics and care homes across the UK and US. £500K–£100M.", "foundingDate": "2024", "founders": [ { "@type": "Person", "name": "Joe Lewin", "jobTitle": "Founder & Managing Director" } ], "address": { "@type": "PostalAddress", "streetAddress": "Battersea Power Station", "addressLocality": "London", "addressCountry": "GB", "postalCode": "SW11" }, "contactPoint": [ { "@type": "ContactPoint", "telephone": "+44-20-7293-0327", "contactType": "sales", "availableLanguage": [ "English" ] }, { "@type": "ContactPoint", "email": "joe@dealflowagent.com", "contactType": "customer service" } ], "sameAs": [ "https://www.linkedin.com/company/dealflowagent", "https://twitter.com/dealflowagent" ], "areaServed": [ { "@type": "Country", "name": "United Kingdom" }, { "@type": "Country", "name": "United States" } ], "knowsAbout": [ "Mergers and Acquisitions", "Business Valuation", "Exit Planning", "M&A Advisory", "Business Sale", "Private Equity", "Building Services M&A", "Facilities Management M&A", "Fire and Life Safety M&A", "Electrical Contracting M&A", "Water Hygiene and Legionella Compliance M&A", "Lift and Elevator Maintenance M&A", "HVAC Business Sales", "Plumbing Business Sales", "Testing, Inspection and Certification M&A", "Healthcare Clinics and Care Home M&A" ], "slogan": "The specialist M&A advisor for building services, facilities management and healthcare." }, { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.dealflowagent.com/#joe-lewin", "name": "Joe Lewin", "givenName": "Joe", "familyName": "Lewin", "jobTitle": "Founder and Managing Director", "description": "Founder of DealFlowAgent. 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It is the clearest available benchmark for any private business whose income is driven by a statutory inspection cycle. ## What these companies are, in plain English Every company on this page is **publicly traded**: its shares are bought and sold on a stock exchange such as the London Stock Exchange, the New York Stock Exchange or NASDAQ. Anyone can buy a share, and the law requires these companies to publish their revenue, profit and debt in full. That is why we can show what buyers pay for them. Your business is almost certainly **private**: the shares are held by you and perhaps a few others, and nothing has to be published beyond your filed accounts. Private companies sell for less than publicly traded ones of the same type, because a buyer cannot sell the shares on again at the click of a button and carries more risk in checking the numbers. Treat the figures here as the ceiling the market sets, not the price your business would fetch. What are publicly traded testing, inspection & certification companies valued at? Publicly traded testing, inspection & certification companies, meaning those whose shares are bought and sold on a stock exchange, are valued at a median of 15.8x EV/EBITDA, across a range of 9.2x to 21.8x, based on 7 companies whose shares trade on a stock exchange, as at 2026-08-14. Private companies in the same trades sell for less than this. Stock market valuations reflect scale, the ease of selling shares on again and full public reporting, none of which a private seller carries. Median EV/EBITDA 15.8x Range 9.2x – 21.8x Constituents 7 Last reviewed August 2026 by Joe Lewin, Founder and Managing Director, DealFlowAgent. ## The publicly traded companies in this sector Publicly traded Testing, Inspection & Certification companies on stock exchanges worldwide, with reported valuation multiples Company Stock exchange Market cap EV / EBITDA EV / Revenue EBITDA margin Revenue growth As at / source ![UL Solutions Inc. logo](https://img.logo.dev/ul.com?token=pk_GsaOcEGSSjSWsfjUlpNdIg&size=96&retina=true&fallback=404) [UL Solutions Inc.](https://www.ul.com) Electrical testing and compliance New York Stock Exchange Ticker NYSE: ULS · United States $10bn to $50bn 21.8x 5.0x 22.9% — 2026-08-14 [Investor relations](https://www.ul.com/investors "Listed Comparable Library (market values 14 Aug 2026; earnings evidence to 19 Aug 2026)") ![ALS Limited logo](https://img.logo.dev/alsglobal.com?token=pk_GsaOcEGSSjSWsfjUlpNdIg&size=96&retina=true&fallback=404) [ALS Limited](https://www.alsglobal.com) Electrical testing and compliance Australian Securities Exchange Ticker ASX: ALQ.AX · Australia $2bn to $10bn 18.1x 3.9x 21.3% — 2026-08-14 [Investor relations](https://www.alsglobal.com/en/investors "Listed Comparable Library (market values 14 Aug 2026; earnings evidence to 19 Aug 2026)") ![SGS SA logo](https://img.logo.dev/sgs.com?token=pk_GsaOcEGSSjSWsfjUlpNdIg&size=96&retina=true&fallback=404) [SGS SA](https://www.sgs.com) Testing, inspection and certification SIX Swiss Exchange Ticker SIX: SGSN.SW · Switzerland $10bn to $50bn 17.4x 3.1x 18.1% — 2026-08-14 [Investor relations](https://www.sgs.com/en/our-company/investor-relations "Listed Comparable Library (market values 14 Aug 2026; earnings evidence to 19 Aug 2026)") ![TIC Solutions, Inc. (Acuren) logo](https://img.logo.dev/ticsolutions.com?token=pk_GsaOcEGSSjSWsfjUlpNdIg&size=96&retina=true&fallback=404) [TIC Solutions, Inc. (Acuren)](https://www.ticsolutions.com) Testing, inspection and certification New York Stock Exchange Ticker NYSE: TIC · United States $2bn to $10bn 14.3x 1.7x 11.9% — 2026-08-14 [Investor relations](https://ir.ticsolutions.com/ "Listed Comparable Library (market values 14 Aug 2026; earnings evidence to 19 Aug 2026)") ![Eurofins Scientific SE logo](https://img.logo.dev/eurofins.com?token=pk_GsaOcEGSSjSWsfjUlpNdIg&size=96&retina=true&fallback=404) [Eurofins Scientific SE](https://www.eurofins.com) Electrical testing and compliance Euronext Ticker Euronext: ERF.PA · Luxembourg $10bn to $50bn 10.5x 2.2x 20.8% — 2026-08-14 [Investor relations](https://www.eurofins.com/investors/ "Listed Comparable Library (market values 14 Aug 2026; earnings evidence to 19 Aug 2026)") ![Mistras Group, Inc. logo](https://img.logo.dev/mistrasgroup.com?token=pk_GsaOcEGSSjSWsfjUlpNdIg&size=96&retina=true&fallback=404) [Mistras Group, Inc.](https://www.mistrasgroup.com) Electrical testing and compliance New York Stock Exchange Ticker NYSE: MG · United States $500m to $2bn 9.2x 1.1x 11.8% — 2026-08-14 [Investor relations](https://investors.mistrasgroup.com "Listed Comparable Library (market values 14 Aug 2026; earnings evidence to 19 Aug 2026)") ![Bureau Veritas SA logo](https://img.logo.dev/group.bureauveritas.com?token=pk_GsaOcEGSSjSWsfjUlpNdIg&size=96&retina=true&fallback=404) [Bureau Veritas SA](https://group.bureauveritas.com) Electrical testing and compliance Euronext Ticker Euronext: BVI.PA · France $10bn to $50bn — — 18.1% — 2026-08-14 [Investor relations](https://group.bureauveritas.com/investors "Listed Comparable Library (market values 14 Aug 2026; earnings evidence to 19 Aug 2026)") ## What owners can learn from this ### Mandated frequency is the whole model Revenue that recurs because the law requires it is valued far above revenue that recurs because a customer chooses to renew. ### Accreditation scope defines the addressable market Publicly traded TIC groups grow by adding accreditation scopes, not by adding salespeople. The same logic applies to a private business preparing for sale. ### Utilisation is the margin driver Inspector utilisation and revenue per inspector appear in stock market reporting because they explain the margin. Buyers ask for both. ### Digital reporting and asset data carry real value Certification platforms and asset registers create switching costs, and the publicly traded set prices that. ### TIC trades above general building services The premium is visible in the median comparison on the hub page, and it holds in the private market too. ## Frequently asked questions ### What are publicly traded TIC companies valued at? The table on this page shows each publicly traded company's reported EV/EBITDA multiple, dated and sourced, with the sector median stated above it. ### Do private compliance businesses achieve TIC multiples? Not the stock market level. The public to private bridge on this page sets out the discount and reconciles it against our compliance and inspection valuation guides. ## Why a private company advisory firm publishes this DealFlowAgent is a sell-side mergers and acquisitions advisory firm. We act for owners of privately held testing, inspection & certification businesses, typically between one million and fifty million pounds of enterprise value, and we run the sale process from preparation through to completion. We do not advise on shares, we do not manage money, and we have no interest in any company named on this page. These figures are published because they are the only fully disclosed evidence of what buyers pay for this kind of work. They set the ceiling. What a private owner actually achieves is set by the size, contract quality and management depth of their own business, which is what our sector valuation guides and free valuation cover. ## Related reading [Testing, inspection and certification M&A](/tic)[Maintenance contract multiples](/valuation/maintenance-contracts-multiples)[All valuation guides](/valuation/guides) ## Citing this data and press contact Journalists, analysts and researchers are welcome to reproduce these figures with attribution. Every number is a dated snapshot of publicly reported company data, not a forecast or an opinion on any share. ### How to cite "DealFlowAgent, Testing, Inspection & Certification public market benchmarks, publicly traded comparable library, market values as at 14 August 2026 and earnings evidence to 19 August 2026." Please link to this page when the figures are quoted. Source documents for each constituent are linked in the table above. ### Press contact and commentary Joe Lewin, Founder of DealFlowAgent, gives commentary on private company valuation, buyer behaviour and consolidation in building services, facilities management and healthcare. Commentary is confined to private M&A. We do not comment on the merits of any listed security. [Media centre](/media)[Request an interview](/contact)[Advisory team](/about) ### Where this sector is covered - [Quality Digest Testing, inspection, certification and quality assurance ](https://www.qualitydigest.com/) - [UKAS UK national accreditation body for conformity assessment ](https://www.ukas.com/) - [Materials Evaluation (ASNT) Non-destructive testing standards and industry practice ](https://www.asnt.org/) ## What is your own business worth today? Stock market figures are a starting point, not an answer. Get a free valuation and value drivers report priced against completed transactions in your specific niche. Strictly confidential Company website URL Get Your Free Valuation Report **Your data is strictly confidential.** It is stored securely and is never shared with buyers or anyone else. Already know your number? Get your free buyer list instead [Learn more about the valuation and value drivers report](/valuation) Important information The figures on this page are drawn from published company reports, regulatory filings and market data, and are stated as at the dates shown. They are provided as general information about mergers and acquisitions valuation for private business owners. They are not investment research, investment advice, or a recommendation or inducement to buy, sell or hold any security, and no reliance should be placed on them for any investment decision. 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