Q4 2025

Plastics Sector M&A Update

In Q4, the Producer Price Index (PPI) for Plastics Material and Resin Manufacturing decreased 0.71%, reflecting easing feedstock costs and pricing normalization following price increases earlier in the year.
The median EV/EBITDA multiple for reported private equity deals in the Plastics sector increased to 9.9x in 2025 from 2.5x in 2024 and decreased for strategic deals to 5.1x from 8.9x in 2024.
M&A Q4 deal volume in the sector remained flat compared to Q3 deal volume at 131 closed deals, and increased 1.6% from 129 deals in Q4 of the prior year.
Europe was the most active region in Q4 with 61 deals. Most notably in Europe was Laumann Group’s $315.8 million acquisition of Epwin Group, a UK-based manufacturer and supplier of low-maintenance building products.
Total capital invested in M&A transactions decreased 71.4% in Q4 to $3.2B from $11.2B in Q3, due primarily to a shift in mix in Q4 to smaller sized deals. In Q3, James Hardi Industries acquired The Azek Company for $9.1B whereas the largest transaction in Q4 was Glenwood Private Equity’s $958.1 million acquisition of NanoH20, a Los Angeles-based manufacturer of reverse osmosis membranes.