While merger and acquisition (M&A) activity has waned in the Environmental, Health & Safety (EH&S) industry, with transaction volume contracting to 77 deals through 2017 compared to 89 in 2016, valuations have reached a premium.  In 2017, companies received an average EBITDA multiple of 14.3x, while in 2016 and 2015 they received average EBITDA multiples of 9.5x and 10.1x, respectively.