Weekly Briefing: April11, 2025
- fmoumen
- 2 hours ago
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The conference kicked off with EFCG Managing Partner, Rebecca Zofnass, delivering EFCG’s signature AEC Industry Overview. Attendees also heard from firm leaders during panel sessions focused on topics such as Technology & AI Trends, M&A, Growth Strategies, Sustainability, and Talent Strategies. We are also delighted to share that Pat Sheridan, CFO of Verdantas, was presented with EFCG’s 2025 CFO of the Year award for leading his firm to achieve remarkable growth, expanding its employee base from approximately 120 in 2020 to over 1,800 team members and growing its revenue from $25 million in 2020 to $400 million in just five years.
EFCG would like to thank everyone who attended this year’s CFO Conference and our sponsorship partners – Greyling, Deltek, Savills, TRANSEARCH, CareerSMITH, HSO, Plante Moran, and SPRX – for their continued partnership.
Crane Counts Reflect Construction Industry Hesitation Amid Economic Uncertainty
The crane count for the first quarter of 2025 remains steady, indicating a general reluctance in the market to initiate major construction projects due to economic uncertainty.
Compared to the last quarter, interest rates have declined, and the pace of construction cost increases has slowed.
Denver, Phoenix, Portland, San Francisco, Seattle, and Washington D.C. saw a decrease of crane counts greater than 20%.
New York and Toronto’s counts have increased, despite the overall downturn, with new activity particularly in residential and mixed-use developments. Boston, Calgary, Honolulu, Los Angeles, and Las Vegas hold steady.
Senate Budget Plan Raises Concerns for Clean Energy Investments
On April 5, Senate lawmakers approved a revised GOP budget resolution with a 51-48 vote that proposes increasing the allowable debt to $5.8 trillion through fiscal 2034, more than double the $2.8 trillion allowed in the House in March.
This potential increase may lead to additional cuts in programs misaligned with White House priorities.
Renewable energy advocates and construction industry groups express concerns over potential changes to tax credits from the Inflation Reduction Act, which could impact clean energy investments and construction projects. An ACORE survey indicates that tax uncertainty might lead to decreased investment plans among companies.
Although budget resolutions are non-binding, if the House and Senate propose the same plan, it can become a reconciliation bill. The House will vote on this bill in April..
April 7, 2025
CannonDesign, a New York-based integrated global designer, has acquired The Clarient Group, a New Jersey-based smart building consulting and technology engineering firm. The strategic merger will strengthen CannonDesign’s practice for smart building consulting, technology infrastructure design and digital experience and operations design. Brad Lukanic, CEO of CannonDesign, said, “This merger strengthens our vision that defines human-led experiences and operational workflows that inform smart solution design, and the individuals who use the buildings we create.”
April 8, 2025
Verdantas, a Florida-based provider of digitally enabled technical consulting solutions for the environment, water, and energy transition markets, backed by Sterling Investment Partners, has acquired Horizons Engineering, Aqua Engineering, Advanced Earth Sciences, Atlantic Resource Consultants, and Atlantic Environmental Consulting Services. These five acquisitions enhance Verdantas’ geographic reach, especially in the Northeast, and strengthen and expand its service offerings. “The addition of these teams strengthens Verdantas' presence in key geographic markets while expanding our expertise in critical service areas,” stated Jesse Kropelnicki, CEO of Verdantas. “This growth aligns with our mission of bringing together like-minded firms that share our culture of collaboration and innovation, creating new opportunities for staff. By expanding our team of experts and technical capabilities, we are enhancing our integrated approach to solving challenges in the environmental, water and energy transition sectors."
April 8, 2025
Terracon, a Kansas-based employee-owned engineering consulting firm, has acquired The Transtec Group (Transtec), a Texas-based pavement engineering specialty firm. This strategic move strengthens Terracon’s pavement engineering and management consulting services, while enabling Transtec to utilize Terracon’s extensive resources to continue delivering high-value solutions to its clients. Gayle Packer, President and CEO of Terracon, stated, “Terracon is excited to welcome the Transtec team and share their talents and expertise with our clients across the U.S. who are seeking advanced pavement engineering solutions.”
April 8, 2025
Stantec, an Edmonton-based sustainable design and engineering firm, has acquired Ryan Hanley, a Dublin-based engineering and environmental consultancy. This acquisition will strengthen Stantec via Ryan Hanley’s local knowledge, relationships, and technical expertise, specifically in the Irish water sector. “Through deep and meaningful collaboration, Ryan Hanley and Stantec have proven our ability to deliver outstanding results for clients and communities in Ireland,” said Gord Johnston, Stantec’s President and CEO. “Innovation and purpose are at the heart of both of our businesses, and this new chapter is the logical next step in our collective journey.”
April 8, 2025
Alta Planning + Design (Atla), an Oregon-based transportation planning and design firm, backed by Trilon Group, has entered into a partnership with CHS Consulting Group (CHS), a California-based multi-modal transportation planning and design firm. This partnership enhances Alta's capacity to deliver multimodal transportation solutions that promote smooth, efficient, and sustainable urban mobility networks. “Alta continues to grow from our active transportation roots to serve our clients with full multi-modal capabilities,” said Brett Hondorp, Chief Executive Officer at Alta Planning + Design. “Integrating CHS’s team and expertise will further enhance our ability [to] help communities with holistic solutions to improve safety and advance sustainable mobility.”
April 9, 2025
Kleinfelder, a California-based engineering, design, construction management, construction materials inspection and testing, and environmental services firm, backed by Lindsay Goldberg, has acquired Veenstra & Kimm (V&K), an Iowa-based design, engineering, and environmental services firm. This acquisition expands into a new geographic market, aligning with the firm’s goal of strategic growth through new market and service development. Louis Armstrong, President and CEO of Kleinfelder, commented, “Establishing Kleinfelder’s presence in the Midwest is an exciting new chapter for us. V&K has over 60 years of exceptional client service and market reach that will enable Kleinfelder to accelerate growth and deliver greater value to new and existing clients, partners, and communities.”
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.