2025 AEC M&A Outlook Report
02
THE SPECTRUM OF SIZE
M&A activity in the AEC industry spans a wide range of firm sizes, but the mix is often misunderstood. On the sell-side, most firms entering the market are small to mid-sized—typically founder-led companies averaging around 30 employees. These firms are commonly acquired by larger regional or national platforms seeking specialization or geo - graphic reach. While high-profile mergers between multi-hundred-per - son or global firms are occurring, they represent a smaller share of total activity. The real center of gravity in AEC M&A remains the steady volume of sellers joining disciplined, scalable buyers.
Transactions by Firm size (2021-2024)
Source: Zweig Group M&A Activity Report
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