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By Elizabeth Nilsen | Successful AEC firms treat succession planning as a strategic priority from the beginning, not a last-minute retirement decision.

By Tom Godin | In AEC M&A, the real risk isn’t finding deals; it’s being unprepared to integrate them.

Zweig Group has announced the release of its 2026 Valuation Report of AEC Firms.

By Matt Cooper | Software should reduce friction, surface better information sooner, and free people up to do higher-value work.

By Mark Zweig | A cautionary AEC story about control, delayed succession, and how avoiding transition can undo decades of good work.

By Mark Zweig | For AEC firm owners and top managers who say they care about value but keep acting like they don’t.

The leading source of business management insights, research, and strategies tailored specifically for leaders of AEC firms.

By Will Swearingen | A new era of AEC growth is emerging, driven by value creation and strategic expansion.

By Scott Butcher | AEC firms use seller-doers, business developers, or both, and the best model depends on buyer preferences and firm capabilities.

By Karen Poist | State licensing and tax compliance can make or break your deal, so you must plan early to protect value, avoid liability, and ensure a smooth transition.

The leading source of business management insights, research, and strategies tailored specifically for leaders of AEC firms.

By Mark Zweig | There are nine reasons why selling your firm to the right buyer can strengthen opportunities, stability, and growth for your people.

By Hannah Miller | Great content builds trust by showcasing expertise, culture, and value, creating lasting impressions long before opportunities arise.

By Ezequiel Tovar | An ownership transition plan must combine the right strategy on both the human and financial side.

By Jeff Adams | Maximizing AEC M&A potential requires proactive financial planning, risk management, and trusted advisors to secure lasting success beyond the deal.

By Mark Zweig | Implement these specific strategies to set the stage for your firm’s long-term growth and success.

By Will Swearingen | Environmental M&A is where sustainability and strategy meet, driving growth across the AEC industry.

By Will Swearingen | Selling your firm requires early, intentional prep to maximize valuation, avoid risks, and ensure successful transition.

By Steve McAdams | Lessons from M&A show that leadership, culture, and client diversity drive sustainable growth and firm value.

By Brad Wilson | This event is a catalyst for honest conversation, shared wisdom, and renewed focus on ownership, governance, and the future of the industry.

Zweig Group and Stambaugh Ness are delighted to announce plans for a joint conference focused exclusively on M&A in the AEC industry this fall. The M&A Next Symposium will be held in San Antonio, Texas,...

This comprehensive report contains information on the ownership agreements, responsibilities, compensation, billing rates, chargeability, work habits, and challenges of AEC firm principals, partners, and owners.

By Kyle Ahern | The latest data reveals rising firm values, stable key metrics, and the impact of market forces on AEC valuations.

Fayetteville, AR – Zweig Group, a leading provider of advisory services, research, and education for the architecture, engineering, and construction (AEC) industry, has released its 2025 Valuation Report of AEC Firms. This latest edition continues the...

By Will Swearingen | A well-thought-out, proactive plan is essential for ensuring the long-term success and sustainability of your firm.

By Ezequiel Tovar | The decisions you make today will have monumental impacts on your next generation of owners tomorrow.

By Alec Russell | M&A activity in the AEC industry surged in 2024, driven by private equity, regulatory investments, and strategic acquisitions.

Zweig Group is the leading AEC Industry advisory service provider. We blend industry and sector knowledge with experience across the M&A lifecycle to help you capture value for shareholders. Reach our Mergers & Acquisitions Advisory team...

This report details some of the biggest trends and movements regarding M&A activity in the AEC industry as of the end of Q3 2024.

By Mark Zweig | Successful mergers and acquisitions require an entrepreneurial mindset focused on growth, branding, and value creation.

By Chad Clinehens | These events offer firm leaders an opportunity to connect, learn, and celebrate  – this year with a focus on ROI.

By Alec Russell | The AEC industry is experiencing a resurgence in M&A activity, driven by strategic partnerships, technological integration, and geographic expansion.

This report details some of the biggest trends and movements regarding M&A activity in the AEC industry as of the end of Q2 2024.

By Ezequiel Tovar | Deciding what you will do with your firm, whether you decide to sell internally or externally, will be life-changing.

By Westwood | Lessons learned and outcomes from the initial exploration through the process, and advice for firms looking to pursue an acquisition.

By Mark Zweig | Exploring common questions – and their answers – from firm leaders about the buying and selling process.

This report details some of the biggest trends and movements regarding M&A activity in the AEC industry as of the end of Q1 2024.

By Will Swearingen | The 2024 Valuation Report highlights strong AEC industry performance and essential metrics for firm leaders.

Zweig Group announces the release of its 2024 Valuation Report of AEC Firms, marking more than three decades of commitment to providing the AEC industry with comprehensive valuation data and analysis.

By Mark Zweig | These four components all work in concert to make buying the business more affordable and easier to fund.

This report details some of the biggest trends and movements regarding M&A activity in the AEC industry as of the end of 2023.

By Will Swearingen, Kevin Johns & Alexis Martin | Finding extra deductions or credits will serve you now and when the time comes to transfer ownership.

This report details some of the biggest trends and movements regarding M&A activity in the AEC industry as of the end of Q3 2023.

By Mark Zweig | Owning a firm that will be profitable and grow over time requires a longer term view and a willingness to invest in the people who generate the revenue.

By Ezequiel Tovar | You must consider the financials before you can fully understand what it takes for a succession plan to be feasible.

By Sara Karstetter | There are several questions a seller needs to be able to answer beyond just the financials.

By Andy Chavez | We’re seeing increasing M&A activity in AEC industry, rising private equity involvement, and growing demand for infrastructure-related sectors.

By Andy Chavez | This report details some of the biggest trends and movements regarding M&A activity in the AEC industry as of the end of Q2 2023.

By Adrian De la Garza | Insights and considerations that can help you decide if you’re ready to buy another firm.

This report details some of the biggest trends and movements regarding M&A activity in the AEC industry as of the end of Q1, 2023.

By Mark Zweig | You can learn something from every new experience, so don’t lose the sense of curiosity and wonder you had as a kid.

By Mark Zweig | Things are only going to get more competitive, so it’s time to raise the bar with your marketing.

By Will Swearingen | When looking to sell your firm, failing to prepare could result in you missing great opportunities when they’re right in front of you.

By Adrian De la Garza | In 2022, mergers and acquisitions continued to flourish as a growth strategy throughout the AEC industry.

These are 10 of the most read columns that appeared in The Zweig Letter last year, but they represent only a small fraction of the content we released. Thank you to all of our contributors and readers...

By Mark Zweig | Many of these things will increase the value of your ownership in an external, or even internal, transition.

By Mark Zweig | Private equity firms that used to have no interest in AEC are now putting their money into companies in our industry.

By Liisa Andreassen | Vice president of strategy at Westwood (Minneapolis, MN), an awarding-winning firm that provides multi-disciplined surveying and engineering services.

By Liisa Andreassen | Vice president of corporate development at J.S. Held, a global consulting firm providing technical, scientific, and financial expertise across all assets and value at risk.

By Andy Chavez | Some of the best practices that the most experienced buyers in our industry employ to get deals across the finish line.

By Mark Zweig | A few of the reasons a great, successful firm can falter and experience a fall from grace.

By John Bray | There is no perfect buyer or seller in the marketplace, but how do you attract the best possible partner?

By Mark Zweig | You are in control of your business, and its success depends on your ability to keep a level head and keep making things happen.

By Andy Chavez | Who are these private equity extraterrestrials, what do they want, and how long will they be here?

    Zweig Group, AEC advisory firm who facilitated $300M in transactions in 2021, has announced the list of speakers and discussion topics for the upcoming M&A Next Symposium, to be held in Charleston, SC...

By Andy Chavez | What characteristics are highly desirable to buyers in the AEC industry right now?

By Mark Zweig | No matter how you do it, getting inside your clients’ brains is crucial to your long-term success.

By John Bray | There are a few things you should consider as you expect to receive an offer for your company from a prospective buyer.

By Ryan Suydam & Blake Godwin | This new award is the strongest way to differentiate your firm from the competition.

By Mark Zweig | If you really know your business, you can make money in any market – even one as crazy as this.

By Kraig Kern | Too much of a good thing can lead to a crisis for you and your staff and dissatisfaction for your clients.

By Brian Rice | Starting early with your ownership transition planning provides ample time to position your staff and firm to maximize your firm’s value.

By Will Swearingen | A clear understanding of how your firm will be managed after a large shareholder’s exit can greatly increase success going forward.

Idaho-based neUdesign Architecture has announced its merger with Colorado-based architecture and engineering firm EVstudio. This merger will open the door to Colorado’s and Idaho’s ever growing industry for both firms and will better serve clients...

By John Bray | How will the new infrastructure bill impact M&A activity in the AEC industry?

By Jane Lawler Smith | In the AEC industry, technical knowledge is important – but sometimes it’s equally important to step back, look around, and see what lessons can be learned outside the AEC realm.

By John Bray | Whether you’re an M&A enthusiast, first-time buyer, or an apprehensive seller, it would be naive to disregard these opportunities without understanding the dynamics of the M&A environment.

By Joan DeLorey & Jared Maxwell | All indications point to 2021 being a year when more buyers see higher rates for their professional liability insurance.

By Mark Zweig | Saying you want to buy another firm in this business is one thing – actually doing it is another.

By Mark Zweig | If you’re trying to buy or thinking about buying another company in this business, here are a few things that may be helpful to you.

3-Tier Alaska and Travis/Peterson Environmental Consulting have joined forces effective February 1, 2021. This merger expands and deepens their civil, environmental, and land surveying services across Alaska. Zweig Group, a full-service AEC management advisory firm,...

By John Bray | Approachable steps you can take to prepare for a potential acquisition down the road, and why it’s never a bad idea to take them.

By Mark Zweig | Things are real messy right now, but we can all get safely to our destinations if we keep our cool.

By Jamie Claire Kiser | Companies are adopting fluid work from home policies and people have begun migrating away from dense cities.

By Christina Zweig Niehues | If you don’t have a social media and online marketing strategy for your AEC firm, now is the time to get started.

By Will Swearingen | Don’t let the concept of treasury stock cloud your transition strategy.

When it comes to M&A, stay flexible and remember that it takes drive, determination, and the ability to connect people and ideas to achieve remarkable results.

By Jamie Claire Kiser | Despite the challenging environment, there are tremendous opportunities to be had.

By Will Swearingen | When considering a deferred compensation strategy for your ownership transition, keep these pros and cons in mind.

By Jamie Claire Kiser | Addressing questions about the impact of COVID-19 through the lens of the Great Recession.

By combining traditional marketing tactics with unique approaches for our industry, AEC firms can get ahead of the competition, stay relevant, and win more and better contracts.

Through solid communication, planning, and leadership support from both organizations, a smooth transition is under way.

In this digital era of PURLs, OKRs, and java scripts, a dimensional mailer and handwritten note are still the best way to grab attention.

By Will Swearingen | As owners enter the final years of their careers and ponder ownership transition, they have to make some concessions.

“I find that using some of these other ‘screens’ can actually lead to greater success in buying.”

In an M&A deal, the seller’s professional liability insurance for legacy projects will likely come into play. Deal with it early on.

When new partners buy out old ones, you have to outline specific duties before assigning leadership roles, among other considerations.

For S-corps and C-corps, ESOPs offer different, but significant, tax benefits to both the selling shareholder and the surviving company.

Is your firm an investment value candidate? If you’re looking to sell, this is the level of value at which you have the most opportunity to maximize your exit.

In today’s competitive market conditions, being able to spot red flags may prove helpful in knowing when to pull out of a discussion or for negotiating a more equitable transaction.

Firm managers run a production process. If the deliverables get out the door, great. If not, cash flow – and company value – could be harmed. Over my career, I have had some disappointed clients....

“One of the things they teach you about entrepreneurship in business school is that you should have your exit strategy in mind as you start and grow your company.” One of the things they teach...

Undisciplined growth, poor people focus, low financial performance, and a weak capital structure can sink a firm – even big ones with brand names. I’ve been working with several colleagues for the past four years...

Our success, as people and as businesses, depends on the quality and speed of our response to problems and opportunities. This play on the word responsibility is not new, but it has never been more...

Having the ability to offer candidates participation in the ESOP may provide your company a benefit your competition cannot offer.

 There are multiple considerations to be made when valuing a privately-held company and the assessment of the many moving parts. The valuation of privately-held firms, including those in the AEC industry, will usually involve discounting...

It seems to me that one of the keys to being a really successful design professional is figuring out what you are really good at and doing more of it. No one is good at...

If you don’t identify and address your firm’s problems, you could increase the measure of risk while decreasing value. There is a four-letter word floating around out there that’s probably the first that comes to...

Employee stock ownership plans are rewarding for your staff, allow for continuity, and can enhance a firm’s culture and legacy. Editor’s note: Wintrust Commercial Banking is a sponsor of the 2018 Hot Firm + A/E...

HGA has acquired the Sustainable Engineering Group, a leading engineering firm focused on energy optimization and sustainable design. The acquisition of SEG, based in Madison, Wisconsin, reinforces and broadens HGA’s existing expertise in energy and...

An experienced insurance advisor can help design firms find the coverage and program structure required to address their evolving needs. A new survey by Ames & Gough of 17 leading insurance companies providing A/E professional...

As hot as merger and acquisition activity in the A/E industry is – and it is hot (we probably get two or three calls/inquiries/RFPs a day now) – internal transition – selling from employees/owners to...

There are a few ways to transition out of your firm. The internal transition is popular because it has great value and keeps the firm going. At some point in every A/E firm owner’s business...

Ditch the sleazy misconceptions. When you’re talking about how much enjoyment and pride you take in your work, and making connections, you’re selling. What sets you apart? That question is asked of all of us...

Editor's Note: This article was written by Mergermarket, the leading provider of forward-looking M&A intelligence and data to M&A professionals and corporates around the world. by Deborah Balshem in Fort Lauderdale JLG Architects, an employee-owned...

The confidential information memorandum will save you a lot of hassles when and if you want to sell your firm, so have one crafted. A confidential information memorandum, also referred to as the “deal book,”...

It’s always a hot topic, and particularly so today, with all of the buying and selling going on in the AEC industry – integration of an acquired firm. Let’s look at three common questions and...

A successful marketing campaign is difficult to measure using hard metrics, so don’t get caught in the quicksand of trying to quantify nebulous numbers. It’s Monday, 9 a.m., and as you get comfortable in an...

Value really, truly is in the eye of the beholder. If you can find someone who sees value in what your firm does, the clients you serve, your expertise, the markets you know, your leadership...

Otak, Inc., an award-winning engineering, urban design, architecture, planning, and project management firm, announces the acquisition of Loris and Associates, Inc., a Superior, Colorado-based civil and structural engineering firm, effective August 1, 2017. This merger...

Portland, Oregon – Otak, Inc., an award-winning engineering, urban design, architecture, planning, and project management firm, announces the acquisition of Loris and Associates, Inc., a Superior, Colorado-based civil and structural engineering firm, effective August 1,...

The non-disclosure agreement is an important piece of any M&A transaction, so make sure it gives you the protections you need during and after negotiations. In the dynamic world of M&A there are a few...

President of WestLAND Group, Inc. (Best Firm #41 Multi-discipline and Hot Firm #45 for 2017), a full-service civil engineering and land surveying firm based in Ontario, California. By Liisa Andreassen Correspondent “It’s important to identify...

Zweig Group, a full-service AE consulting firm based in Fayetteville, Arkansas, facilitated WGI’s acquisition of Carl Walker, Inc., a deal that gives the buyer a 12th business line, nearly 400 associates, and an important footprint...

A/E firms with sound risk management may benefit most from a competitive professional liability market, and should take the opportunity to increase coverage. Design firms that practice sound risk management, have good loss experience, and...

If you’re looking to sell, it’s critical you attract the right buyers with a detailed yet concise overview of your firm. The M&A transaction “teaser” is the first document that a prospective buyer will review...

Zweig Group closes another M&A deal! FAYETTEVILLE, Ark. (May 24, 2017) – Zweig Group, a full-service AE consulting firm based in Fayetteville, Arkansas, has closed on its third M&A deal in the last two months....

Zweig Group, a full-service AE consulting firm based in Fayetteville, Arkansas, has closed on its third M&A deal in the last two months. The latest success – NV5 Global, Inc.’s acquisition of Orlando-based Lochrane Engineering,...

If growth through M&A is part of your strategic plan, be prepared to embrace the integration process with an open mind. Last week we discussed strategic planning and how it is an integral part of...

So you’re thinking about acquiring an A/E firm? You’ve got a lot of questions to ask yourself, and you need to have honest answers. In a recent article, I wrote about how important it was...

While many of them might have flopped, you still have a chance to make the most important one a reality – ownership transition. Welcome to March! And congratulations on making it through all those resolutions!...

Should you buy a firm or sell yours? That’s the question, and regardless of the answer, there’s a lot that goes into a successful merger or acquisition. In the ever-evolving AEC industry, both large and...

Sounds like a straight-forward question, but it’s not. There are multiple metrics that can be used to determine a firm’s value. What’s the firm worth? I hear that question more than any other, from buyers...

Sounds like a straight-forward question, but it’s not. There are multiple metrics that can be used to determine a firm’s value. What’s the firm worth? I hear that question more than any other, from buyers...

2016 was quite a year for the AEC industry and for Zweig Group as well. Merger and acquisition activity, and interest in the subject, has never been higher than it is right now. Our firm...

The decision to pursue an M&A growth strategy can benefit your firm, but it helps to know what you’re doing on the front end. At our annual Hot Firm and A/E Industry Awards Conference in...

Similar cultures and a need for an expanded footprint are the driving forces behind Hot Firm RTM’s acquisition of smaller Texas outfit. By Liisa Andreassen Correspondent The two companies were in talks for a little...

If your firm is looking to marry, don’t get hung up on the ‘perfect match.’ Keep your eyes open and you might meet that special someone you didn’t expect. As consultants, we all find ourselves...

In Zweig Group’s 2016 Merger & Acquisition Survey, researchers found that the gap between actual M&A transaction values and expected values for future M&A activity has narrowed over the last five years. The shift in...

A trio of profound shifts in the A/E/P industry has made it much more difficult for firm owners to retire. As I enter my mid-50s (never thought it would happen) I have become privy to...

Your firm’s list of contacts is critical to your marketing activity, and it can have a tremendous monetary value, too, so make it a priority. This industry is still doing a poor job of building...

Your firm’s list of contacts is critical to your marketing activity, and it can have a tremendous monetary value, too, so make it a priority. This industry is still doing a poor job of building...

While the numbers behind failure are staggering, when you look at the characteristics of successful M&A transactions, the math is pretty simple. M&A transactions can fall apart for dozens – maybe even hundreds – of...

If you figure out the answer to that all-important question on the front end, you’ll have a great chance of closing on the right M&A deal. One of the key responsibilities of any business owner...

The act of priming your business for market increases its value, and helps you embrace an assortment of challenges and opportunities. I know what you’re thinking because I hear it all the time. “I’m not...

While the numbers behind failure are staggering, when you look at the characteristics of successful M&A transactions, the math is pretty simple. M&A transactions can fall apart for dozens – maybe even hundreds – of...

The market in lighthouses is limited, but due to the history of the structures, the challenges of renovation, and the romantic locations, there’s plenty of takers. By Richard Massey Managing Editor The market in historic...

While the numbers behind failure are staggering, when you look at the characteristics of successful M&A transactions, the math is pretty simple. M&A transactions can fall apart for dozens – maybe even hundreds – of...

The M&A process is like the dating game: there’s plenty of fish in the sea, but hauling in the big catch isn’t easy. Firms close deals every day without engaging an M&A consultant to help...

In a recent article, I wrote about how important it was to prepare your firm for sale even if you are not thinking about an external ownership transition. You can read that article here. This...

When positioning your firm for a potential sale, you should be prepared to talk about all facets of the organization, not just the C-suite. As an M&A consultant, I come into contact with sellers of...

“I’m not ready to sell my business,” “I am not ready to retire,” or “business is too good right now for me to sell” are all statements you might be thinking right now, but there...

Your firm’s list of contacts is critical to every marketing activity, and it can have a tremendous monetary value, too, so make it a priority. This industry is still doing a poor job of building...

Avoid these common M&A mistakes, which happen a lot when firms try to close a deal without the guidance of a seasoned pro. When we talk to sellers in this industry, we often find that...

Don’t just get a good lawyer. Get one who knows the M&A industry, and don’t let minor, personal stuff derail the transaction. I've been in this industry for 36 years now. That's a long time....

The checklist is long, but with meticulous attention to detail, a firm can avoid unpleasant surprises after closing the deal. Merger and acquisition activity among A/E firms continues to heat up. When planning to buy,...

You may have long-term “relationships” because of your company’s reputation with people you don’t even know. I've always been a long-term relationship kind of guy. I still have friends that I went to grade school...

If you are thinking about selling your firm, a front-end valuation is essential before heading to market. When we begin working with an M&A client on the selling side, one of the very first questions...

Make your firm more valuable by making yourself irrelevant and surrounding yourself with leaders. Firms that command high market premiums are ones in which the owners are, in many ways, always seeking to become less...

Although Zweig Group's M&A Survey offers a variety of responses to the question "why are you considering an acquisition", there are, essentially, only two reasons that firms pursue inorganic growth. These reasons are to either...

New Guidebook is a Revision to 2007’s ‘M&A Cookbook’ Fayetteville, AR; December 8, 2015 — Zweig Group – the architectural, engineering, planning and environmental consulting industry’s go-to resource for insight and advice – has released...

M&A really isn’t all about the valuation and the payout terms. For sellers, there is usually a strong emotional attachment to the company that they’ve devoted years, resources, and their career to growing. A concern...

Taking the time to get these 8 items in order might make all the difference when seeking a buyer for your business. A lot of us don’t want to plan for it. We don’t even...

My husband and I had dinner one evening last week at one of our favorite local restaurants, an upscale place with a gracious staff and fantastic fare. Or, at least, we went to the restaurant...

Six suggestions for firms seeking to work with the largest buyer of A/E and environmental services. Let’s face it: The government – be it local, state, or federal – is the biggest buyer of A/E...

Forbes released an article today titled Trying To Sell A Business? You Need To Look At It The Way A Buyer Would by Steve Parrish outlining the process potential sellers should follow to make themselves...

FAYETTEVILLE, Ark. (April 14, 2015) – Zweig Group’s recently released 2015 Merger & Acquisition Survey of A/E/P and Environmental Consulting Firmsfinds that the number of firms in the industry considering M&A activity is on the...

Zweig Group’s recently released 2015 Merger & Acquisition Survey of A/E/P and Environmental Consulting Firms finds that the number of firms in the industry considering M&A activity is on the rise. The survey found that...

Distinguishing between marketing and sales offers a true perspective of investment. We have a problem in this industry. Many of us have a simple-minded perspective of “marketing.” For many firms, the marketing department is a...

This article first appeared in The Zweig Letter (ISSN 1068-1310) Issue # 991 Originally published 1/28/2013 When the sky is a different color on the other side, the likelihood of coming to an agreement is...

The valuation of privately held firms, including those in the A/E/P and environmental consulting industry, will usually involve discounting to arrive at a concluded value of the subject interest. Readers who have been through the...

By W. Hobson Hogan Principal, Investment Banking ZweigWhite Owners often ask me when is the best time to sell their firms. It’s a common question. The answer that they are seeking typically hinges on valuation...

By W. Hobson Hogan Principal, Investment Banking Our ego makes us think that we are irreplaceable; there is no way that our organizations could soldier on without us. You imagine your office falling apart the...

Press Release: August 8, 2011 FAYETTEVILLE, Ark. (August 8, 2011) – A ZweigWhite survey reveals that while many architecture, engineering, planning and environmental firms still see value in participating and attending trade shows, other faster...

Press Release: July 22, 2011 FAYETTEVILLE, Ark. (July 22, 2011) –ZweigWhite has consolidated and branded its internal consulting team which manages mergers, acquisitions, valuations, and ownership transition under the new moniker, MAVALOT. Right now these...

By Tracey Jeffers Principal, Valuation Consulting ZweigWhite I recently worked on a valuation engagement for a project management firm involving minority shareholder value in a litigation. Besides the relevant financial data, one of the first...

By Jeff Clark, Principal, Investment Banking I have been a Nevada resident and have seen it all, from boom to bust, over the past seven years since I moved here from California. “Viva Las Vegas,”...

By W. Hobson Hogan ZweigWhite Principal, Investment Banking I have represented many businesses in M&A processes and I have analyzed both great and not-so-great firms. In all of these M&A processes, I have witnessed some...

By Jeff Clark, Managing Director & Principal, Investment Banking Get out there and make it happen. Tell people, from your accountant to your attorney to your friends and business associates on all your social networks,...

Press Release: June 7, 2011 FAYETTEVILLE, Ark. (June 7, 2011) – Two can be better than one. From adding clients, expanding to new markets or locations, increasing services, or building staff numbers/skills, a merger or...

By Tracey D. Jeffers There is a four letter word floating around out there in the atmosphere that is likely the first formed in the mind of an investor when determining whether or not an...

Press Release: April 5, 2011 Lack of Ownership Transition Plan Puts Design Firms in Peril FAYETTEVILLE, Ark. (April 5, 2011) – A crisis could descend upon many design firms because aging baby-boomer owners have not...

By Jeff Clark Many firm owners are afraid to market their firms, for fear that once the word is out that they are for sale, their perceived value will go down and their staff will...

By Mark C. Zweig There is a lot of interest in buying and selling firms these days. We are even having six seminars/conferences on M&A this year. Our investment banking group at ZweigWhite has never...

By Hobson Hogan EBITDA can be measured in different ways, and confusion over it sometimes leads us to wonder if we are speaking the same language. I often hear people make statements like “I heard...

1. Buy-Side Representation ZWEIGWHITE has been focused on business management services, research and information for architecture, engineering and environmental consulting firms since 1988. As such, we are uniquely qualified to find the right business(es) to...

A “gloom and doom” economic outlook is still seen by many in the A/E and environmental business, even after the recent pronouncement that the recession officially ended in June 2009. This offers opportunities— as well...

Press Release: November 17, 2010 M&A activity is expected to accelerate in 2011 as many struggling firms look for an exit strategy and firms that are doing well look for bargains and distressed sales. “2011...

With the consolidation wave just starting to gain momentum in the A/E/P and environmental industry, it seemed appropriate to get into a subject that many firms in our business seem to have an ongoing problem...

The A/E/P and environmental consulting business is about to experience an unprecedented period of consolidation. With so many firms struggling, there will be plenty for sale. And those companies that have profitable operations and strong...

Getting new people productive sooner is something that everyone who owns an A/E/P or environmental firm should be concerned about. This is NOT a topic that only H.R. managers should worry about. Principals and line...

Economic crisis or not, there’s a lot of it going on these days— firms in our “industry” buying other companies— for a variety of reasons. And while there is lots of information out there on...

Right now, a record number of senior owners of architecture, engineering, planning, and environmental firms are facing a serious question. Should they sell their firm— or not? It’s a question every entrepreneurial small business owner...

I just sold a house this past weekend that I have had on the market for quite some time— much longer than it usually takes me to sell one. This was a beautiful little 1925...

NOW, not later, is the time to take a hard look at your strategic plan for improved performance. The new year is just around the corner. The environment is volatile. It’s hard to see what’s...

When it comes to mergers and acquisitions of A/E and environmental firms, there’s so much misinformation out there. Common misconceptions abound, such as: You can’t sell a firm that isn’t profitable. Not true. Nearly every...

Since this issue is dedicated to mergers and acquisitions in the A/E/P and environmental industry, I thought I’d share some of what I’ve learned over the years about this subject. Mergers and acquisitions can work...

Bob Cunningham was the 57-year-old CEO of C-6 Architects and Engineers in Seattle, Washington. He became CEO of the company in 1992. Cunningham took great pride in witnessing the firm’s growth from 30 people when...

When I passed the baton to Dick Ryan as our CEO three years ago, it allowed me to move on and do some other things I have always wanted to do. One of those activities...

Most of us could benefit at times from a new perspective. This is especially true when you start considering the subject of business planning in A/E/P and environmental consulting firms. But a new perspective is...

After doing business plans for more than 20 years, the truth has finally sunk into me: You cannot please everyone with one strategic plan. In other words, the strategic plan for internal purposes is probably...

We can all take a lesson from my old buddy Bert Johnson (not his real name). He is a classic case of the entrepreneur who lost interest in his business, but figured out how to...

We’ve been at this business for some time now— and have worked with hundreds of A/E/P and environmental firms whose principals wanted to sell. Unfortunately, we can’t help all of them— just those who will...

Business planning does not have to be difficult. Every single firm needs a plan, whether you are a five-person architectural firm started two years ago, or a 3,000-employee, 35-year-old engineering and environmental consulting company. But...

Now that A/E/P and environmental consulting firms have been doing business plans regularly for the past 10 or 15 years, it may be time to beef them up a bit. The old platitudes, goals, and...

Driving my two-tone blue ‘59 Edsel Ranger down 71B near my house the other day, I saw a great bumper sticker. It read, “Why try to predict the future when you can create it?” That’s...

I just got another of the many announcements that come through the ZweigWhite e-mail system today— one of our clients just bought/merged with/sold to another firm. We see so much of this that I barely...

We went to see my Mom and Dad in Kirkwood, Missouri, last weekend, for my Mom’s 85th birthday. While I was there, we had a lively discussion with my 85-year-old father, my 55- and 52-year-old...

This is a question that I see the majority of principals of A/E/P and environmental firms wrestling with. Should they sell their firm to a larger company, get liquid, and ready themselves for the next...

We held our 2004 AEC Mergers and Acquisitions Summit at the Biltmore in Coral Gables, Florida, the first week in December. The food and accommodations were great, and the meetings were a success. As someone...

As the economy inches its way toward improvement, we are seeing A/E/P and environmental firms rekindling their interest in merger and acquisition activities. In fact, it’s almost a mini-boom of activity that’s occurring right now....

Everyone in the A/E or environmental consulting business wants to turn their technical people into sellers. Not a week goes by that the desire to do this isn’t mentioned to me by someone in this...

While I can’t be bound by convention and from this point forward be forced into matching my weekly missive with the focus of other articles in The Zweig Letter, this week’s issue got me thinking...

Last week, we held our first-ever conference on mergers and acquisitions, the 2003 AEC Mergers & Acquisitions Summit, at the Omni Parker House in Boston. It was a successful event with a wide range of...

Buying and absorbing another enterprise into your own is never easy. A/E/P and environmental consulting firms may be especially difficult as they have very few assets. Aside from a good (or bad) name, some computers...

Let’s face it. The economy of the last couple of years has led to diminished expectations and in some cases, declining values, not just in our 401(k) plans and stock portfolios, but also in terms...

Right now may be the best time ever to go out and buy another firm. People are depressed, their sense of optimism is considerably dimmer, and many A/E/P and environmental firms are performing accordingly. That...

Irving “Tuck” Schlockmeir walked into the Schlockmeir Associates board meeting in a bad mood. Tuck was frequently in a bad mood, and if he wasn’t, the fear that he might go into one scared everyone...

I was out working in my yard this weekend, cutting brush and chopping up fallen branches with my 18-horsepower trailer-mounted chipper, when one of my friends and clients dropped by. He’s an architect and was...

Curt Robinson closed his middle desk drawer with a resounding thud. “This is the last time I’ll be sitting here,” he thought to himself as he threw last year’s calendar into the cardboard box of...

The idea came to me at 3:50 p.m. on Sunday, January 2, 2000. It was a balmy afternoon here in the Boston area— temperatures in the 60s, sunny and bright. I took out my wife’s...

Now’s the time of the year a lot of folks in the A/E/P business start to take a look at their business plan. Traditionally, there’s some discussion of what’s going on outside the firm that...

I like the fact that The Zweig Letter has an editorial point of view. So many newsletters for this industry and others are just compilations of other, previously published articles. Or, they are so white...

Although I don’t consider myself a member (honorary or otherwise) of the morality police, the latest presidential scandal got me thinking about morality and ethics. I’ll limit my political commentary to one statement: I think...

The recent acquisition of Woodward-Clyde Group (Denver, CO) by URS Corporation (San Francisco, CA) is just one big deal among many, many other smaller deals that are going on weekly in the A/E/P and environmental...

“You’re only as good as your reputation.” Somebody wise must have said that somewhere along the line! It’s certainly true. When your reputation is good, the phone rings with new work opportunities, your competitors’ staff...

We just got back from the 15th Annual Inc. 500 Conference and Award Ceremony held in Philadelphia. Zweig White & Associates made it onto Inc. magazine’s list of 500 fastest-growing privately held firms for the...

Although conventional wisdom says that an A/E/P or environmental firm’s greatest asset is its staff, that may not always be so. I don’t want to diminish or underestimate the importance of the workers to a...

There is a lot of merger and acquisition activity today. It seems like just about everybody is looking to buy or merge with someone else. We’ve never seen a higher level of interest in acquisitions....

I am continually reminded of the bizarre sense of risk some principals in A/E/P and environmental firms have. I am talking about the obsession so many principals seem to have about extracting as much as...

If you listen to the “experts,” you could easily be convinced that it’s darn near impossible to successfully acquire a firm. By “successful,” I’m not just referring to getting the deal done. I’m talking about...

If you are like a lot of our clients, 1994 was a really great year. For many firms, all indicators were up— including sales, backlog, revenues, and profitability. Our ZWEIG 100 index (based on 100...

Because marketing really is “where it’s at” for firms in this business, it’s hard for me to keep from writing about it. You see, an A/E/P or environmental consulting firm can solve just about any...

Every firm in this industry must do four things to survive— sell work, do work, bill for work, and get paid for work. That’s it. If you ask me, architects, engineers, and environmental consultants (along...

We give out a lot of advice to our clients. Some of it’s free, but we get paid for most of it. In our business, just like yours, clients are usually happy when you first...

Environmental consulting firms are starting to come to grips with what A/E and consulting engineering firms have faced for years— a mature marketplace. No longer is the demand for environmental services growing at a 10-20%...

Ever been house hunting? No matter what you can afford, it’s never enough. Especially with the appalling things some people will do to their homes. I’m not just talking about starter homes (here in Boston,...

No matter what the self-appointed experts are telling you, right now is a great time to buy a firm or to be acquired by or merge with another firm. But, like most things, it’s not...

We constantly get asked by principals in A/E and environmental consulting firms about what or where the next “hot markets” will be. It seems that these people have read about market life cycles in the...

If I weren’t so optimistic, I could easily get discouraged. As an owner in a small, growing company, it seems that every time you make a buck, someone is there to take it away from...