17 Apr, 2026
It was found that the sector combines highly attractive fundamentals: non-discretionary demand driven by regulation, fragmented supply, strong technical barriers to entry, and long-term, recurring revenue models.
Ascent’s view is that this creates a compelling environment for private equity and strategic buyers to execute buy-and-build strategies, scaling specialist, regional providers into larger platform businesses. Consolidation is already well underway, but the market remains highly fragmented, with significant platform and bolt-on opportunities still available.
Increasing integration of technology can also be seen across the sector, improving efficiency and customer retention, while maintaining defensibility due to the technical and often on-site nature of service delivery.
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