2025 AEC M&A Outlook Report

The AEC M&A Landscape A LOOK AT THE CURRENT AEC M&A LANDSCAPE

Over the past five years, M&A has transformed from an opportunistic tactic to a defining feature of how AEC firms grow, diversify, and tran - sition ownership. There have been over 2,700 transactions in the AEC industry since the start of 2021. For many firms, M&A is now standard practice. Nearly four in ten firms surveyed for this report have completed a merger, acquisition, or re- capitalization in recent years, and many others are exploring strategic partnerships or transition options. Whether driven by growth, succes- sion, or competition for talent, one reality is clear: M&A is no longer the exception. It’s the model for how the modern AEC firm grows.

M&A Activity (Past Three years)

Source: 2025 AEC M&A Outlook Survey, Zweig Group and Stambaugh Ness

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