2025 AEC M&A Outlook Report
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ESOP firms tend to show less sell-side activity because they have already solved the ownership transition challenge. Once the ESOP is in place, growth becomes the mandate, which naturally propels these firms as buyers rather than sellers. Private equity platforms, meanwhile, continue to propel much of today’s buy- side momentum with multi-brand strategies focused on long- term value creation and return on investment. Together, these structures reflect a broader evolution in the AEC market. An industry once defined by founders’ names on the door is now attracting new forms of capital and new governance models built around sustainable growth.
Firms Surveyed (Ownership Structure)
Source: 2025 AEC M&A Outlook Survey, Zweig Group and Stambaugh Ness
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