The report below gives a good overview of the fourth quarter M&A activity in the Engineering and Construction Industry Sector. M&A activity for North American based target companies in the Engineering & Construction sector for Q3 2019 included 76 closed deals, according to data published by industry data tracker FactSet.
One of the notable middle market transactions in the sector was announced in August when Sterling Construction Co., Inc. acquired Plateau Excavation Inc for US$400 million in cash, stock and seller notes. Plateau Excavation is located in Austell, Georgia and provides construction services. Plateau Excavation full-year 2018 revenues were approximately US$290 million.
- US personal income, which drives consumer spending on home construction, rose 4.9% in September 2019 compared to the same month in 2018.
- The value of US residential construction spending, an indicator of the health of the residential construction market, dropped 7.9% year-to-date in September 2019 compared to the same period in 2018.
Posted by Peter Heydenrych.