The AEC Industry is entering a captivating year ahead as we look to the emerging trends driving the industry forward. During our recent 2023 CEO Conference, we heard cautious optimism from CEOs and subject matter experts alike. Overwhelmingly, CEOs are already anticipating continued growth in 2024. Now, with firms beginning to win work from IIJA – a historic boost to infrastructure spending, the demand for AEC services is on the rise. This has generated strong interest in the space from outside capital.
Photo provided by Rebecca Slezak of Rebecca Slezak Photography.
However, in an increasingly choppy macro environment, the tailwinds in the AEC Industry will not impact all firms equally. How do you take advantage of this positive momentum? Here are two overarching themes that emerged from our CEO Conference:
Be Proactive
Action was top of mind for the many CEOs and experts featured on our CEO Conference panels. Whether implementing tech strategies, adopting sustainability frameworks, or developing new ways to attract and retain talent, doing these things proactively was cited as the key to remaining dynamic and competitive in a changing marketplace.
See the Big Picture
From 10,000 feet, what needs to change to achieve long-term goals? Assessing ownership structure, board membership, capital needs, and/or outside partnerships is an opportunity to re-position a firm for growth, help to motivate employees, gain diverse leadership perspectives, and/or expand into new markets.
To be sure your firm is well positioned for the current moment, our team is here to help. For positioning guidance please email EFCG VP Emily Shaw at eshaw@efcg.com; and please find our latest M&A capabilities deck below.