Despite a rather sleepy second quarter from a financial markets and news perspective, M&A in the industrial services market continued its growth pattern, with transaction count increasing 15% quarter-over-quarter and a significant jump of 71% year-over-year. Acquirers, especially private equity backed acquirers, are getting increasingly comfortable with the macroeconomic picture, as an interest rate cut looks all but certain this year with inflation decreasing, labor markets returning to normal levels (perhaps even swinging too far according to the Fed), and geopolitical risks seemingly rather isolated.