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Weekly Briefing: October 16-20, 2023

Week of October 16, 2023

Israel-Gaza Conflict Could Damage the Global Economy

  • With more nations becoming involved in the conflict in the Middle East, the global economy is at risk of plunging into a recession.

  • If Iran, a supplier to Hamas, comes into direct conflict with Israel, Bloomberg predicts that oil prices could rise to “$150 a barrel and global growth drop to 1.7%”, reigniting inflation in the energy sector previously brought on my Russia’s invasion of Ukraine.

  • Bloomberg estimates that the global impact on the economy will differ by the scale of the conflict, modeling three different scenarios: confined war, proxy war, and a direct war between Israel and Iran.

  • In the case of a direct war between Israel and Iran, Bloomberg estimates that global inflation could reach 6.7% in 2024.


DOT Will Award $5.1 Million for Development of New Digital Tool

  • The Department of Transportation will award $5.1 million to develop digital platforms that will manage and increase efficiency for transit infrastructure projects.

  • The $5.1 million grant will be awarded to one program lead who will be tasked with developing two different digital solutions for construction projects. The head of the DOT’s Federal Transit Administration hopes that this will help agencies to deliver their projects “on time and under budget”.

  • Transit authorities, state and local agencies, academic institutions and private for-profit and nonprofit organizations may apply. Applications are due by February 10, 2024.

October 16, 2023

Trinity Consultants (Trinity), a Texas-based environmental consulting firm backed by Oak Hill Capital, has acquired Waid Environmental (Waid), a Texas-based engineering and environmental services firm specializing in air quality, emissions control, permitting, and compliance. The transaction strengthens Trinity’s expertise in air quality and environmental compliance for Texas clients. Shishir Mohan, managing director at Trinity, said of the transaction, “Waid shares our ambition and promise to deliver project excellence, with a culture of responsiveness, quality and value, ensuring our people have the technical capabilities and expertise needed to quickly solve the most complex environmental challenges.”


October 16, 2023

BHDP Architecture (BHDP), an Ohio-based architectural firm, has acquired RGG Architects (RGG), a North Carolina-based architectural firm known for designing innovative and patient-centered healthcare facilities. The acquisition is part of BHDP’s larger strategy of expanding capabilities and offering clients more valuable and diversified services. David Johnson, President & COO of BHDP, said of the transaction, “Their expertise in healthcare architecture is a valuable addition to our team, and we are confident that working together will allow us to provide our clients with even more impactful services.”


October 16, 2023

Godspeed Capital Management LP (Godspeed Capital), a Washington D.C.-based private equity firm specializing in lower middle-market Defense and Government services, announced a strategic investment in Stengel Hill Architecture (SHA), a Kentucky-based full-service architecture and interior design firm specializing in complex healthcare facilities. SGA will act as Godspeed Capital’s platform investment to enter the AEC services space with a core focus on serving U.S. healthcare facilities through organic and inorganic expansion. Douglas Lake, founder and managing partner of Godspeed Capital, commented, “As the leading player in key, growing healthcare markets with a diverse set of highly specialized and sought-after architectural and design capabilities, we believe SHA is well-positioned to capitalize on attractive market tailwinds and has a notable opportunity to disrupt the highly fragmented market.”


October 16, 2023

SSOE Group (SSOE), an Ohio-based architecture and engineering firm, has acquired Integrated Engineering Services (IES), a California-based full-service MEP and Process Engineering design firm. The acquisition of IES will help to expand and enhance SSOE's service offerings, while also bolstering its geographic presence in California, Texas, and Georgia. SSOE CEO Vince DiPofi, PE, expressed enthusiasm for joining of the two firms, “We are excited about this opportunity and the benefits it will bring to our clients and employees. This acquisition allows us to broaden our expertise, expand our service offerings, and deepen our resources for project execution. Together, as a combined firm, we will be able to provide even more value and support to our clients.”


October 19, 2023

Environmental Systems Group (ESG), a California-based provider of comprehensive environmental service solutions and platform of Bernhard Capital Partners, has acquired ELOS Environmental (ELOS), a Louisiana-based environmental consulting services firm with a focus on natural resources, Geographic Information Systems (GIS) and mapping, cultural resources, industrial hygiene services, waste management and disaster recovery throughout the Southeastern U.S. The acquisition of ELOS will expand the ESG platform’s diversified environmental service offerings and strengthen the company’s geographic presence in the Gulf Coast region.”

Prominent AEC industry firms, including Jacobs and Kimley-Horn, are actively supporting the “Imagine a Day Without Water” campaign, emphasizing the role of the AEC industry in advocating for sustainable water infrastructure investment. The campaign advocates for equitable access to safe, affordable water, with a particular focus on marginalized communities that have been identified by the US Water Alliance and DigDeep as lacking clean and safe drinking water and sanitation services. Its goals align with the recent Bipartisan Infrastructure Law, which has allocated over $50 billion towards improving water infrastructure. This collective effort serves as a call to action for greater investment in water systems, emphasizing the critical role of water in our survival.


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