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ON THE MOVE WARE MALCOMB ANNOUNCES PROMOTION OF AKANKSHA SINGH TO STUDIO MANAGER, SCIENCE & TECHNOLOGY IN PLEASANTON, CA Ware Malcomb, an award-winning international design firm, announced Akanksha Singh has been promoted to Studio Manager, Science & Technology in the firm’s Pleasanton, California office. In this role, she will help lead the growth and management of the office’s S&T Studio. “Akanksha plays a key role in staff training and collaborating with our firm’s Science & Technology leaders,” said Luciana Arim, practice leader and director, Science & Technology, Ware Malcomb. “She has demonstrated excellence in managing projects, establishing best practices, and we look forward to her continued contributions to the firm.” Singh’s background includes 20 years of experience managing science and technology sector projects for major
clients. She first joined Ware Malcomb’s Advanced Manufacturing group in 2017, contributing to various technical projects for the firm. After a brief hiatus in 2021, she returned to the Pleasanton office as senior laboratory planner for the newly formed S&T practice group prior to her latest promotion to studio manager. She earned her bachelor’s degree in architecture from Mumbai University and master’s degree in architecture from University of Washington in Seattle. A sustainability advocate, Singh was named to the board of the Northern California Chapter of the International Institute for Sustainable Laboratories, and serves as its communications co-chair. Ware Malcomb is an industry leader with decades of science and technology experience. S&T serves as one of the firm’s practice areas supporting dedicated market-specific capabilities across the Americas.
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WILL SWEARINGEN, from page 1
consolidation at record levels with significant demand from both financially backed and traditional strategic buyers. This phenomenon has prompted many owners to consider their internal calculations and has also pushed up pricing on internal transfers. We expect 2024 to continue to be a strong year for M&A activity in the AEC industry. ■ The equity value/profit metric continues to stand firm at 3.91, mirroring the robust performance of the preceding year. Simultaneously, the equity value/book value ratio has seen an uptick to 1.80. Many firms held excess cash on their balance sheets as PPP and ERC money flowed into organizations during 2020 and 2021. These funds are finally getting worked through as growth in the industry has impacted the working capital requirements and capital investments of these firms. ■ The premium for control level transactions versus minority level remains significant, reinforcing the fact that firms can access higher returns on their investments via the external market. As the industry experiences a surge in ownership transition activities, the demand for independent, third-party appraisals has also intensified, mirroring the sector’s growth and the need for precise fair market value calculations. Zweig Group’s Valuation Report of AEC Firms remains the industry’s go-to resource for benchmarking and understanding firm value. The comprehensive data and analysis provide invaluable insights for firms preparing for transitions, seeking to benchmark their performance, or aiming to understand their position within the industry landscape. Will Swearingen is vice president and director of research and advisory services at Zweig Group. He can be reached at wswearingen@zweiggroup.com.
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THE ZWEIG LETTER APRIL 1, 2024, ISSUE 1531
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