2025 AEC M&A Outlook Report
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Industry Data: EBITDA vs. Multiple
Source: 2025 AEC M&A Outlook Survey, Zweig Group and Stambaugh Ness & 2025 Zweig Group Valuation Survey
Broader financial context supports this optimism. The 2025 Financial Performance Survey dataset indicates that median AEC firms’ profit margins have risen from 14% in 2023 to 16% in 2025, improving liquidity and giving acquirers greater leverage in financing and deal execution. BRINGING THE SIDES TOGETHER These findings show an industry motivated by continuity, culture, and capability—not crisis. Sellers are seeking to preserve legacy and provide opportunity for the next generation of leaders. Buyers are strategically expanding to diversify services, deepen client relationships, and enhance resilience. In short, both sides are pursuing growth by design rather than necessity, forming a steady, succession-driven market defined by alignment and intentionality.
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