Weekly Briefing: April 4, 2025
- fmoumen
- Apr 4
- 4 min read
Fears of Tariffs Starting a Recession Cause a Loss of $2 Trillion in U.S. Stock Value
After President Trump announced sweeping tariffs on foreign imports, U.S. financial markets experienced the biggest one-day drop since COVID-19.
Consumer spending drives 70% of U.S. economic activity, meaning that if higher prices are passed on to the consumers, it could slow economic growth or even lead to a contraction. Some experts believe this downturn in the U.S. economy could potentially trigger recessions in other countries as well.
Investors sold shares in sectors that were expected to be the most affected, leading to significant hits for technology, airlines, retailers, banks, and clothing companies.
Technology companies, such as Apple, HP, Dell, and Nvidia, saw large drops due to their international manufacturing operations.
Record Month for Construction Spending at $1.26T from Public Projects
In February, nonresidential construction saw the highest adjusted annual rate of $1.26T after spending increased by 0.3%, according to an Associated Builders and Contractors analysis of U.S. Census Bureau data released Tuesday.
Out of 16 nonresidential subcategories, spending increased in nine, primarily driven by a rise in highway and street construction, which accounted for 40% of the overall monthly gain.
Private nonresidential spending increased by 0.4% and public spending by 0.2%.
Despite the record-high expenditure, the growth rate for all major categories has slowed. Additionally, contractors have decreased hiring and significantly reduced the number of job openings.
April 1, 2025
ERM announced the successful completion of its acquisition of the Environmental Division of NewFields, a firm renowned for its expertise in strategic consulting, site investigation, and remediation. This acquisition significantly enhances ERM’s capabilities in environmental forensics, emerging contaminants, and human health impact and risk assessment. Additionally, it strengthens ERM’s data analytics, sediment management, marine sciences, hydrogeology, and groundwater modeling expertise.
Initially announced on January 13, 2025, the 110 technical experts will join as ERM NewFields and support North American and global clients to effectively manage liabilities and risks.
EFCG served as the exclusive financial advisor to NewFields.
March 31, 2025
Salas O’Brien, a California-based engineering and facility planning firm, backed by Blackstone, has acquired Chavez-Grieves Consulting Engineers (Chavez-Grieves), a New Mexico-based structural engineering, investigative engineering, and project management firm. This strategic move enhances Salas O’Brien’s capacity to provide resilient and sustainable structures for sectors such as data centers, healthcare, and government, while enhancing both firms’ ability to deliver complex and integrated engineering solutions. Darin Anderson, Chairman and CEO of Salas O’Brien, commented, “Chavez-Grieves’ deep structural expertise strengthens our ability to deliver high-performance solutions for mission-critical environments. Together, we will deliver even more innovative and sustainable solutions for complex challenges facing these crucial sectors.”
March 31, 2025
Gannett Fleming TranSystems, a Montana-based firm that delivers engineering and infrastructure solutions, has acquired Scalar Consulting Group (Scalar), a Florida-based firm that specializes in transportation engineering and infrastructure services. This acquisition enhances Gannett Fleming TranSystems’ transportation and construction engineering and inspection services, strengthening the firm’s ability to serve the government agencies and commercial clients across Florida. Jim Nevada, Co-President of Gannett Fleming TranSystems, stated, “Scalar’s deep expertise and proven track record in Florida’s transportation market make it a standout partner in the industry. Our shared focus on client satisfaction, innovative solutions, and team-oriented culture creates a powerful foundation for future growth and success.”
March 31, 2025
LJA Engineering (LJA), a Texas-based employee-owned, full-service, and multi-disciplinary engineering and consulting firm, has acquired The WLB Group (WLB), an Arizona-based land development firm. This strategic acquisition enhances LJA’s land development services in key geographic regions, while positioning WLB to grow and increase the opportunities available for its employees and clients. James Ross, President and CEO of LJA, commented, “WLB’s expertise in Arizona and Nevada, combined with our national presence and resources, creates a stronger, more dynamic team for our clients. We look forward to the opportunities this partnership will bring.”
April 1, 2025
IMEG, an Illinois-based employee-owned, engineering, planning, and consulting firm, has acquired WRK Engineers, a Washington-based structural and seismic engineering firm. This acquisition strengthens IMEG’s specialized service offerings with the addition of WRK Engineers’ expertise in seismic safety and structural resilience and allows WRK Engineers to expand its impact to a national level. Paul VanDuyne, President and CEO of IMEG, stated, “[WRK Engineers’] advanced capabilities in seismic risk evaluation and retrofit design, along with their success as a trusted client advocate and funding resource, are highly complementary to IMEG’s multidisciplinary approach. This partnership allows us to deliver even more robust and resilient engineering solutions—particularly in regions vulnerable to seismic events.”
April 2, 2025
HMC Architects, a California-based architecture and planning firm, has acquired Bassetti Architects, a Washington-based architecture firm with expertise in educational and civic design projects. This partnership broadens HMC’s services offerings in Western U.S. and enables both firms to share resources and talent to increase the value delivered to their clients. Brian Staton, President and CEO of HMC, expressed his enthusiasm, stating, “This partnership expands our reach and enhances our ability to design innovative, community-focused spaces. We’re united in purpose and better equipped to address clients’ evolving needs with an even more significant impact on our communities.”
April 3, 2025
Stantec, a Canada-based sustainable design and engineering firm, has acquired Page, a Washington, D.C.-based architecture and engineering firm. This strategic move makes Stantec the second largest architecture firm in the U.S. and broadens its current service offerings, while also positioning the firm well to serve growing markets such as advanced manufacturing, data centers, and healthcare. Gord Johnston, President and CEO of Stantec, stated, “This acquisition will greatly support our strategic market growth in our Buildings business while enabling us to leverage our expanded platform to better serve our North American clients and grow our worldwide market presence.”
VHB sponsored the Tobacco Road Marathon as a title sponsor, with employees from the Raleigh office participating by running over 20 miles on the American Tobacco Trail. This marks VHB’s fourth year supporting the Tobacco Road Marathon, which has raised over $1.8M for charities including Breakthrough T1D (formerly known as JDRF), American Red Cross, American Heart Association, Hope For The Warriors, and Triangle Rails To Trails Conservancy.
The EFCG Weekly Briefing summarizes the week’s key news in the AEC industry, including M&A updates, and micro- and macro-trends, aggregated from industry-focused and global news sources.
To send any additional press releases or news from your firm that you would like us to share please email Clay Han at chan@efcg.com.