Week of May 20, 2024
EFCG just wrapped up its Annual HR Leadership Conference on May 15-17, at the Four Seasons Hotel in Nashville, TN. We welcomed more than 150 HR leaders from across the AEC industry, with 57 first-time participants and 101 firms represented.
The conference kicked off with EFCG Managing Partner, Rebecca Zofnass, delivering EFCG's signature AEC Industry Overview which included critical data as it relates to HR functions. Attendees also heard from firm leaders during panel sessions focused on topics such as Addressing the Talent Shortage, Effective Learning & Development Strategies, Leveraging Automation & AI Inside HR, and more.
EFCG would like to thank everyone who attended this year's HR Leadership Conference and to our sponsorship partners – Transearch and CareerSmith -- for their continued partnership!
For more information on EFCG conferences, click the button below or email Kim Thieme at kthieme@efcg.com.
Arup Confirms Deepfake Fraud, Raises Awareness on Cybersecurity in AEC Industry
Arup was the victim of a deepfake fraud, where an employee was tricked into transferring HK$200m ($25m) to criminals via an AI-generated video call.
The fraudsters posed as senior officers of the company during the hoax call. Arup confirmed that fake voices and images were used.
Arup’s Global Chief Information Officer, Rob Greig, stated that the company has been subject to frequent attacks, including invoice fraud, phishing scams, WhatsApp voice spoofing, and deepfakes. He noted that the number and sophistication of these attacks have been rising sharply in recent months.
The incident has raised awareness about the increasing sophistication of cyber-attackers in the AEC industry. The Hong Kong police force classified the case as “obtaining property by deception” and the investigation is ongoing.
Continued Infrastructure Investment Boosts U.S. Economy, ASCE Report Finds
The American Society of Civil Engineers (ASCE) released a report titled “Bridging the Gap” on May 13, which examines the economic impacts of two infrastructure scenarios: maintaining federal infrastructure spending at current levels (“Continuing to Act” case), and reducing federal funding to pre-IIJA totals (“Snapback” option).
The report suggests that continuing the Infrastructure Investment and Jobs Act (IIJA) funding levels would significantly improve infrastructure efficiencies.
Conversely, a snapback to pre-IIJA funding levels would have a cascading negative economic impact for years, reducing disposable income, business output, and the Gross Domestic Product (GDP). It would result in U.S. industries losing more than $1 trillion in their output and a loss of more than $600 billion in GDP.
Maintaining the current infrastructure spending levels would also boost U.S. households’ disposable income by $550 billion and save 237,000 jobs.
The report looks ahead to the 2026 expiration of the IIJA and the Inflation Reduction Act, indicating that Congress will be tasked with deciding how these programs will be funded going forward. The shortfall under the Continuing to Act case would be about $2.9 trillion over 10 years and about $800 billion more than that under the snapback.
May 16, 2024
Tower Engineering Professionals (TEP), a North Carolina-based engineering and maintenance services firm, backed by H.I.G Capital, has acquired Piedmont Utility Group (Piedmont), a North Carolina-based fiber optic and utility services firm. The acquisition significantly enhances TEP's capabilities in telecom and utility construction and solidifies its position as one of the largest turnkey operators in North America. Andy Haldane, CEO of TEP, commented, "This acquisition marks a pivotal milestone for TEP as we continue to expand our footprint and reinforces our prowess in the telecom and infrastructure industries. Piedmont Utility Group's exceptional expertise in telecommunications construction, environmental infrastructure, and erosion control seamlessly complements our existing service portfolio, empowering us to deliver even more comprehensive and integrated solutions to our clients."
May 20, 2024
Gafcon PM-CM LLC (Gafcon PM-CM), a California-based subsidiary of Global Infrastructure Solutions (GISI), has successfully purchased all the operating assets of Gafcon, Inc. (Gafcon). With offices in San Diego, Los Angeles, and Imperial Valley, Gafcon has 36 years of experience supporting K-12 and community college construction bond programs with program management or staff augmentation for clients in addition to architecture, sustainability, controls, technology, and more. The acquisition of Gafcon advances GISI's Engineering and Consulting businesses by expanding their capabilities and end market coverage and complements the services and growth of GISI's other operating companies.
May 20, 2024
Thompson & Litton, Inc. (T&L), a Virginia-based full-service professional surveying and civil engineering firm, has acquired Tysinger, Hampton & Partners, Inc. (TH&P), a Tennessee-based engineering and land surveying firm. The acquisition strengthens each firm's portfolio of services and allows them to deliver more value and convenience to clients throughout Tennessee and the Mid-Atlantic region. Tom Patton, President of TH&P, commented on the transaction, "We feel very blessed to have the opportunity to join T&L in this acquisition. As a past employee of T&L, I am familiar with their excellent treatment of employees as well as good moral and ethical standards. Greg Hurst (T&L President) has been excellent to work with on this acquisition and we appreciate the effort that T&L has made to ensure that both our staff and clients will benefit from the acquisition."
May 20, 2024
NV5 Global, Inc. (NV5), a Florida-based provider of technology, conformity assessment, and consulting solutions, has acquired myBIMteam (TMCADD), a Florida-based provider of building information modeling, reality capture, and digital twin solutions. The acquisition supports NV5's strategic focus on expanding recurring and subscription-based services that facilitate long-term client relationships and organic growth. Ben Heraud, Co-CEO of NV5, commented, "NV5 has recognized that building digitization is an essential part of the vision for technology growth, incorporating digital twins and 3D reality capture into our entire building systems portfolio, including data centers, clean energy conversion, systems design, and commissioning, and we're pleased to welcome TMCADD's talented technical experts to the NV5 team."
May 22, 2024
Childs Engineering, a Massachusetts-based waterfront structural engineering services firm, has acquired W.J. Castle, P.E. & Associates (W.J. Castle), a New Jersey-based specialized waterfront engineering company. The merger creates a stronger and more diversified firm that can offer a full range of engineering solutions for marine and coastal projects. Charlie Roberts, President of Childs Engineering, commented, "We are excited to welcome W.J. Castle, P.E. & Associates to our team. They are a highly respected and experienced firm that shares our vision and values. Together, we will be able to offer our clients more comprehensive and innovative solutions for their waterfront engineering services."
Commentaires