Environmental, Health and Safety M&A
Cornerstone advises owners of environmental, health and safety (EHS) consulting, testing and training firms on selling their business. Our sell-side engagements bring 8 to 10 indications of interest (offers) from qualified buyers on average.
A Real Market Analysis (RMA) is our market-based valuation. For an EHS firm, it shows what buyers would pay for your recurring compliance work, your certified staff and your client list, and what would raise that value.
Buyers are competing for EHS firms
Private equity platforms
Private equity firms are building EHS platforms and adding regional firms to them. Veritas Capital agreed to buy Trinity Consultants, an EHS consulting firm, from Oak Hill Capital. Examinetics, an occupational health testing company, bought Progressive Safety and Jurgiel & Associates.
Engineering and testing companies
Engineering, inspection and testing companies are adding EHS services. Acuren completed its merger with NV5. Scientific Safety Alliance, which is founder and employee owned, bought Class 1 Air, a Milwaukee controlled environment testing firm that Cornerstone represented.
Work that repeats every year
Air emissions reporting, stormwater compliance, industrial hygiene monitoring and safety training repeat every year. Certified Industrial Hygienists (CIHs) and Certified Safety Professionals (CSPs) are hard to hire, so buying a firm is often the fastest way for a buyer to add them.
Why EHS firms work with Cornerstone
An advisor who has owned companies
Jason Salisbury founded a multi-location demolition and recycling company and sold it to a national strategic acquirer. Through a fundless sponsor model, he has also bought and partnered in industrial services and manufacturing companies.
Testing and compliance sales
Chuck Dallas advised Class 1 Air on its sale to Scientific Safety Alliance. His transactions include testing and compliance, industrial services and agricultural companies.
Your firm valued the way buyers see it
Our Real Market Analysis is a deep dive into your firm and client mix. We recast your EBITDA, compare your margins with industry benchmarks, and look at what similar EHS firms have sold for. Most are completed in three to four weeks. Download the RMA white paper.
Complete confidentiality
In Cornerstone’s National Study on Selling Your Business, 54% of owners said they believe employees would leave if they knew the business was for sale. Buyers learn your firm’s name only after they sign a confidentiality agreement.
Who we work with
Firms
- Environmental consulting and engineering firms
- Industrial hygiene and occupational health firms
- Safety consulting and training companies
- Environmental testing laboratories
- Cleanroom, air quality and controlled environment testing firms
- Asbestos, lead and mold assessment firms
- Environmental drilling and remediation contractors
Owners
- Founders planning their retirement
- Partners who want to exit on different timelines
- Owners who want their team to stay with the firm after the sale
- Owners holding an offer from an EHS platform
What buyers pay for in an EHS firm
Certified professionals
CIHs, CSPs, professional engineers and geologists, and how many will stay after the sale.
Recurring work
Annual monitoring, sampling, reporting and training contracts repeat every year, so buyers value them above one-time projects.
Utilization and billing rates
Billable hours per professional, and rates that keep pace with wages.
Client mix
No single client, industry or site should carry the business.
Accreditations and insurance
Laboratory accreditations, professional liability coverage and a clean claims history.
Margins and growth
EBITDA margin and steady growth in billable hours set the starting point for price.
Project managers
Project managers who own client relationships after the owner steps back.
Received an offer from an EHS platform?
Private equity platforms and engineering firms call EHS firm owners directly, and a one-on-one negotiation favors the buyer. In our recent results, final sale prices averaged 36% above the unsolicited offer. Examples from our engagements, across industries:
Safety systems company
$10M → $14M
+$4.0M added · 9 IOIs received
Sand and gravel company
$5.0M → $7.96M
+$2.96M added · 4 offers received
Government software company
$3.25M → $6.4M
+$3.15M added · 7 IOIs received
Download the white paper: Unsolicited Offers vs. the Power of Multiple Offers™
Examples of actual Cornerstone transactions. Past results do not guarantee future results.
Environmental, health and safety transactions
EHS firms sold by Cornerstone and Cornerstone International Alliance partner firms.
Class 1 Air, Inc.
Controlled environment testing and certification
Milwaukee, WI
has been acquired by
Scientific Safety Alliance
Advised by Charles Dallas, Cornerstone Business Services
Alpha Terra Science
Environmental and safety consulting
Plymouth, WI
has been acquired by
Fehr Graham Engineering & Environmental
Advised by Cornerstone Business Services
Safety Solution, Inc.
Environmental, health and safety consulting
Green Bay, WI
has been acquired by
SRP Environmental
Advised by Cornerstone Business Services
Mountain Research
Environmental consulting, engineering and drilling
Altoona, PA
has been acquired by
ARRO Consulting
Advised by Murphy McCormack Capital Advisors, a Cornerstone International Alliance partner firm
Cornerstone International Alliance partner firms have completed more than 10 environmental, health and safety transactions. See all Cornerstone transactions
“It was a pleasure working with you because of the experience, sound business advice, professional ethics and timeliness that you integrated throughout the process.”
Donald W. Becker, Alpha Terra Science
Your advisors
Jason Salisbury
Managing Director
Jason advises founders, shareholders and private equity groups on sell-side transactions, recapitalizations and ownership transitions. He has advised on transactions up to $200 million in enterprise value across industrial services, manufacturing, engineering, environmental services, professional services, software and distribution. Through a fundless sponsor model, he has bought and partnered in industrial services and manufacturing companies, including Becker Boiler and Dehumidifier Corporation of America. Earlier, he founded a multi-location construction demolition and recycling company and sold it to a national strategic acquirer. He holds a Bachelor of Science in mechanical engineering from the University of Minnesota.
jsalisbury@cornerstone-business.com · 920-436-9890
Charles Dallas, CPA
Vice President
Chuck advised Class 1 Air, Inc., a Milwaukee controlled environment testing and certification firm, on its sale to Scientific Safety Alliance. His transactions include testing and compliance, industrial services, manufacturing and agricultural companies. He held leadership roles at Genex Cooperative, a global agricultural genetics cooperative that grew from about $21 million to more than $250 million in revenue during his tenure.
cdallas@cornerstone-business.com · 920-436-9890
Dan Hansher, MBA
Investment Banking Associate & Director of AI and Marketing
Dan works with Jason on Cornerstone’s EHS engagements, from the Real Market Analysis through the sale. He directs the financial analysis, buyer outreach and due diligence, and coordinates the owner, buyers, attorneys and accountants through closing. Before Cornerstone, he spent nearly 10 years in industrial manufacturing and distribution, with leadership roles at Ellsworth Adhesives, a $900 million global distributor and manufacturer, and Regal Rexnord, a $6 billion public industrial manufacturer. He earned his MBA at the University of Wisconsin-Whitewater.
dhansher@cornerstone-business.com · 920-436-9890
Reis Wisneski
Senior Analyst
Reis supports Cornerstone’s EHS engagements with financial analysis, valuation support, buyer research and due diligence coordination. Before Cornerstone, he worked at Orgel Wealth Management, a registered investment advisor managing about $8.5 billion in assets, and in corporate finance at Hooper Corporation. He holds a Bachelor of Business Administration in finance from the University of Wisconsin-Eau Claire, where he was a senior analyst in the Student Managed Investment Fund covering the energy, industrials and materials sectors. He holds Bloomberg Market Concepts, Finance Fundamentals, ESG and Spreadsheet Analysis certifications.
rwisneski@cornerstone-business.com · 920-436-9890
Why owners choose Cornerstone
85%
Close rate
5-year average, vs. 53% for other M&A firms and 20% for owners who sell without an advisor*
24 to 26%
Premium above target
average increase above the target price
8 to 10
Offers per deal
average indications of interest
25 years
In the market
advising lower middle market business owners
*M&A Source, Market Pulse Survey Report. Past results do not guarantee future results.
Talk with an advisor
Tell us about your company, and we will reach out to schedule a confidential conversation. You can also call 920-436-9890.
Questions EHS firm owners ask
Answers about selling an environmental, health and safety consulting, testing or training firm.
How do buyers value an EHS consulting firm?
Most start with EBITDA, then adjust for how much revenue repeats each year, how many certified professionals you employ, utilization and billing rates, and client concentration. Our Real Market Analysis (RMA) recasts your earnings and compares your firm with similar sales and with public engineering and testing companies.
Who is buying environmental, health and safety firms?
Private equity firms building EHS platforms, engineering and testing companies adding services, national EHS firms entering new regions, and family offices. Recent buyers include Veritas Capital, Examinetics, Acuren and Scientific Safety Alliance.
Will my CIHs, CSPs and engineers stay after the sale?
Buyers are paying for your certified staff, and most want them to stay. Retention bonuses, employment agreements and equity in the buyer are common. We plan for retention before going to market and negotiate it as part of the deal.
How do buyers treat recurring compliance work?
They separate work that repeats every year, such as monitoring, sampling, reporting and training, from one-time projects. Repeat work under master service agreements usually earns a higher multiple. We show buyers that split by client and service line.
Does professional liability coverage affect the sale?
Yes. Buyers review your professional liability coverage, claims history and project files. Most professional liability policies are claims-made, so the purchase agreement usually addresses tail coverage for work done before closing.
Do our lab accreditations transfer to a new owner?
Usually, with planning. Accrediting bodies generally require notice of a change in ownership, and some review the lab again. We list your accreditations and renewal dates for buyers and plan the transfer before closing.
A private equity platform called with an offer. What should I do?
Before you respond, find out what your firm is worth and who else would buy it. In Cornerstone’s National Study, 55% of owners said they would accept an unsolicited offer without getting a valuation first. A competitive process shows whether that first offer is the best one available.
How long does it take to sell an EHS firm?
Our sell-side engagements close in 6 to 8 months on average, compared with about 11 months for the industry. Our Assurance 360™ process covers preparation, buyer outreach, management meetings, the letter of intent, due diligence and closing on a set timeline.
EHS organizations and M&A events
We meet EHS firm owners and the buyers acquiring them at these M&A events.
M&A and private equity
ACG
Association for Corporate Growth
ACG Midwest Capital Connection, Chicago
ACG Indiana, Indianapolis
ACG M&A South, Atlanta
ACG DealMAX, Las Vegas
M&A Source
M&A Source conferences, Minneapolis and Phoenix
Midwest Business Brokers and Intermediaries
MBBI Private Equity Connection, Milwaukee
Updated November 2026
