A clear, data-driven view of today’s AEC M&A landscape—built on multiple proprietary Zweig Group datasets and thousands of real transactions. Inside, you’ll get:
- Market Trends: Who’s buying, who’s selling, and the forces reshaping consolidation across environmental, infrastructure, civil, and design sectors.
- Valuation & Financial Benchmarks: Current profitability trends, EBITDA multiples, revenue-based valuation expectations, and how firm size and work mix influence pricing.
- Buyer & Seller Motivations: Succession, strategy, geographic expansion, capital formation, cultural alignment, and other drivers behind today’s deals.
- Regional & Sector Hotspots: Where activity is accelerating (Southeast, Texas, environmental, water, and energy transition) and where the market is moderating.
- Outlook for 2025–2026: Short-, medium-, and long-term forecasts that help firms plan for growth, transition, or acquisition.
M&A is no longer episodic in the AEC industry—it's the operating system for how firms grow, transition leadership, and build long-term value. This report distills the trends shaping the next era of consolidation, giving firm leaders:
- Clarity on valuation and market expectations
- Insight into competitive dynamics and emerging opportunities
- Forward-looking guidance for owners planning transition or acquisition
- Context for how culture, profitability, and strategy intersect in successful deals
Whether your firm is preparing, pursuing, or considering M&A, this report provides the perspective needed to make informed, confident decisions.
The 2025 AEC M&A Outlook Report is produced through the strategic partnership of
Stambaugh Ness (SN) and
Zweig Group (ZG)—a collaboration built to give AEC firms unmatched insight, expertise, and end-to-end M&A support.
Together, SN and ZG deliver:
- Unparalleled AEC industry focus, serving 1,400+ firms nationwide, including nearly 30% of the ENR Top 250
- A “lead with people” philosophy that prioritizes culture, leadership continuity, and long-term success over purely transactional outcomes
- A continuum of services before, during, and after a transaction, including valuation, quality of earnings, tax structure, FAR rate analysis, IT + cybersecurity, ERP consulting, and cultural assessments
- Deep deal experience, drawing on advisors who have worked inside AEC firms and understand the nuances of ownership transition and integration
- National scale with personal guidance, leveraging a 200+ person team across 30+ states supporting clients through strategy, diligence, and integration
For AEC leaders navigating growth, succession, or acquisition, this partnership provides a single, trusted platform to anticipate challenges, identify opportunities, and design the future of your firm with clarity and confidence.