2025 AEC M&A Outlook Report
34
Transportation infrastructure remains stable, though deal activity has leveled after several years of rapid growth.
Overall, the market is transitioning from broad-based expansion to more focused, evidence-driven acquisitions where performance, specialization, and strategic fit determine who moves next. MOVING FORWARD The AEC M&A market remains selective but strong, diversifying rather than declining. Buyers continue to pursue firms positioned in sustainability, resiliency, and energy transition where long-term growth drivers remain intact. Slower sectors are still active but face tighter valuations and greater scrutiny of backlog, margins, and leadership depth. Overall, the market is defined less by volatility and more by precision: buyers are concentrating capital where strategy and performance align. In the cycle, success belongs to firms that pair financial strength with a clear vision of how they shape the future of the built environment. Geographic hotspots Deal activity in 2025 is increasingly regional, clustering in markets where population growth, infrastructure investment, and sector specialization converge. The result is a concentrated but dynamic map of opportunity. REGIONS ON THE RISE The Southeast and Texas remain epicenters of M&A activity in the United States, accounting for nearly one-third of all transactions so far this year. In Florida, water management, coastal resiliency, and transportation infrastructure drive deal flow, while Texas leads in energy transition and land development centered around Houston, Dallas, and Austin.
On the West Coast, California anchors environmental and water- focused transactions linked to wildfire mitigation, drought resilience,
Made with FlippingBook Annual report