M&A activity in the Environmental, Health & Safety industry remains strong. Most industries experienced a decline in activity in 2013, as the impending capital gains tax rate increase artificially inflated the number of transactions in 2012 and, once implemented, contributed to a drop in 2013. However, this trend was not the case for the EH&S industry, with displayed substantial activity in 2013. Capstone’s research shows that the number of transactions in the industry reached 109 last year, representing a 38% increase.