Top sectors for SF acquisitions: key subcategories & insights

SFs have actively pursued acquisitions across various sectors in recent years, showing a clear preference for companies in industries characterized by stable cash flows, growth potential, and fragmented markets. While most searchers are industry-agnostic, they typically begin their search in two or three subsegments within one or two industries before expanding their focus.

To help you define these subcategories, we have compiled the most attractive sectors from our deal database and listed various subcategories for each, which should give you some ideas. Whether you are preparing your PPM and looking to illustrate your search thesis or have already begun working with analysts to explore deal databases, we hope this information will be helpful to you.

1/ Healthcare & Life Sciences

• Home healthcare service providers (elderly care, nursing visits)
• Mental health clinics and addiction recovery centers
• Specialized outpatient clinics (dermatology, cardiology, diagnostics)
• Physical rehabilitation and occupational therapy centers
• Medical staffing and temporary healthcare personnel agencies
• Distributors of medical supplies and equipment
• Manufacturers of medical devices (prosthetics, surgical tools, monitors)
• Digital health platforms and telemedicine service providers

2/ Business & Professional Services

• IT consulting firms (software development, system administration)
• HR outsourcing companies (payroll, recruitment, training)
• Digital marketing and creative advertising agencies
• Accounting and financial advisory firms
• Tax advisory and corporate compliance consultancies
• Corporate training and leadership development companies
• Facility management firms (maintenance, cleaning, security)

3/ Software, Tech & FinTech

• Developers of industry-specific software (ERP, CRM for niche markets)
• SaaS platforms for project management, CRM, or billing
• Cybersecurity firms (data protection, penetration testing, compliance)
• Payment processing and digital transaction companies
• Peer-to-peer lending platforms and online banking services
• Blockchain solutions providers and crypto wallets or exchanges

4/ Education & Training

• Vocational and trade schools (technicians, electricians, mechanics)
• E-learning platforms for professional and personal development
• Tutoring centers for primary, secondary, and college students
• Test preparation companies for standardized exams (SAT, GMAT, TOEFL)

5/ Manufacturing & Industrial Production

• Industrial machinery manufacturers (automation, assembly lines)
• Medical device manufacturers (surgical tools, diagnostic machines)
• Consumer goods manufacturers (household products, personal care)
• Automotive parts producers (engines, bodywork, electrical systems)
• Packaging materials manufacturers (boxes, labels, protective films)
• Renewable energy equipment producers (wind turbines, solar panels)
• Agricultural machinery manufacturers (tractors, harvesters, irrigation systems)

6/ Distribution & Wholesale

• Food and beverage wholesalers supplying retailers and restaurants
• Industrial tools, construction materials, and hardware distributors
• Wholesale distributors of consumer electronics and appliances
• Automotive parts and accessories wholesalers
• General wholesalers serving retailers in bulk

7/ Environmental & Energy Services

• Waste collection and recycling companies (urban and industrial)
• Plastic, glass, metal, and electronics recycling facilities
• Environmental consultancy firms (impact studies, ESG compliance)
• Water purification and treatment service providers
• Renewable energy project developers and solar/wind installation firms
• Energy efficiency consultants for businesses and real estate
• Oil & gas field service companies (logistics, maintenance, inspection)
• Utility management firms (electricity, gas, water distribution)

8/ Logistics & Transportation

• Freight forwarding companies managing international shipments
• Warehousing and fulfillment service providers
• Courier and express delivery companies (parcels, documents)
• 3PL providers offering outsourced supply chain solutions
• Specialized transportation companies for oversized or sensitive goods
• Trucking and freight haulage businesses
• Shipping lines and maritime cargo operators
• Public transport operators (bus, rail, metro services)
• Ride-hailing and mobility platforms
• Logistics optimization and software providers

9/ Consumer Services & Lifestyle

• Home repair and maintenance service companies
• Beauty salons, spas, and wellness centers
• Pet grooming, boarding, and veterinary clinics
• Event planning and management service providers
• Gyms, personal training studios, yoga and fitness centers

10/ Telecommunications & Infrastructure

• ISP (fiber, DSL, wireless)
• Telecom infrastructure developers (5G towers, fiber networks)
• VoIP service providers for businesses
• Telecom equipment manufacturers (routers, modems, antennas)
• Satellite communication and data transmission service providers

11/ Media, Entertainment & Publishing

• Digital content studios (video, podcasts, branded content)
• Event production companies for concerts, trade shows, festivals
• Book and magazine publishers (print and digital)
• Broadcasting companies (TV channels, radio stations, streamers)
• Video game development studios and interactive entertainment companies

12/ Hospitality & Travel

• Multi-property hotel management groups
• Restaurant groups with chains or multiple locations
• Travel agencies and online travel booking platforms
• Event and conference venue operators
• Tour operators organizing vacation packages and guided trips

13/ Agriculture & Food Production

• Fertilizer, pesticide, and agrochemical manufacturers
• Food processors converting raw agricultural products into packaged food
• Dairy producers (milk, cheese, yogurt)
• AgriTech solution providers (sensors, smart irrigation, farm management software)

14/ Retail & E-commerce

• Online marketplaces for general or niche consumer goods
• Specialty retail chains (electronics, clothing, sporting goods)
• Grocery store chains and supermarket groups
• Convenience store operators with local franchises or small stores

15/ Construction & Real Estate Services

• Residential real estate developers and builders
• Commercial construction contractors for offices, malls, and public buildings
• Civil engineering firms focused on public infrastructure (roads, bridges)
• Renovation, remodeling, and home improvement companies
• Suppliers of construction materials (cement, steel, insulation, glass)

Don’t forget to check our database for examples of past transactions to get inspired.