AEC acquisitions grow in 2007
One of the big national AEC stories of 2007 was the number of top design firms acquired by larger companies last year. Sixteen firms “disappeared” from the ENR Top 500 Design Firms list due to acquisitions.
The trend to instantly create companies that can provide a full range of services — from planning and design through construction and even operations and maintenance — has been fueled by larger projects and clients who want single source delivery.
The U.S. dollar’s fall against foreign currencies is another factor that makes acquisition of U.S. firms by foreign companies look more enticing than ever. European companies can get 30% more for their money by using Euros in the U.S.
Still, there’s a lot to be said for the stability, integrity and commitment of firms owned by their founders, management teams or ESOPs (employee stock ownership plans). Among such successful companies in St. Louis are McCarthy, Walton Construction, Guarantee Electrical, Lawrence Group, Clayco, Kwame Building Group, Graybar Electric.
These companies and many others have found ways to provide the broad range of services owners want while still maintaining local ownership.
What other local AEC firms can you add to the list?
