01 The AEC M&A Landscape
01
A Current Look at M&A Activity 01
1.1
02 Financial Context
08
2.1 Growth Narrative
08
2.2 Profitability Narrative
09
2.3 Work Mix & Client Mix
10
2.4 Section Summary
14
03 Who’s Buying & Who’s Selling
16
16
From the Survey
3.1
04 Forces of Change
CONTENTS
24
4.1 Motivations & Drivers
24
4.2 Concerns & Challenges
28
4.3 Valuation Benchmarks
30
05 Around the Industry
33
Market Sector Status
33
5.1
5.2 Geographic Hotspots
34
06 Outlook & Key Themes
37
6.1 Short-Term Outlook
37
6.2 Medium-Term Outlook
39
6.3 Long-Term Outlook
41
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