Weekly Briefing EFCG's summary of this week's news across the A/E/C industry |
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| SmithGroup named the five recipients of the 2022 SmithGroup Justice, Equity, Diversity, and Inclusion (J.E.D.I.) Scholarships. The annual scholarship program was established to foster a more diverse and inclusive design industry by supporting students from historically underrepresented demographics studying architecture, interior design, planning, landscape architecture, or engineering. Each scholarship recipient receives a one-time award of $6,000 to offset tuition costs and a paid summer internship with one of SmithGroup’s U.S. offices. Since its inception in 2018, the program has awarded $150,000 to 25 recipients across the United States. |
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Nature-Focused Water Bill Clears Key Senate Panel - The Senate’s proposed Water Resources Development Act, A biennial water infrastructure proposal that would invest in the restoration of ecosystems and resilience of coastal and inland communities, was approved by the U.S. Senate Environment and Public Works Committee.
- The legislation continues past packages’ recent focus on natural and nature-based solutions for water-focused infrastructure projects across the country.
- The proposal places additional emphasis on accounting for climate change when planning and executing projects for flood risk reduction and drought resilience, strengthening technical assistance to local communities for project planning, and advancing ecosystem restoration projects across the country.
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Biden Administration Makes $3.1B Push to Expand US Battery Production - The U.S. Dept. of Energy on May 2 announced $3.1 billion in grants for battery and component production to support building new U.S. facilities and expanding or retrofitting existing ones. The administration is also earmarking $60 million toward electric vehicle battery recycling and reuse.
- The funds are part of a Biden administration push to achieve energy independence, as well as reach a 2030 goal for electric vehicles to comprise half of all cars sold in the country, a complement to other recently announced funding infusions for efforts including increasing U.S. mining and development of critical minerals such as lithium, a crucial EV battery component.
- The funds come from the new federal infrastructure investment law, which includes more than $7 billion marked for battery supply chain-related investments between fiscal 2022 and 2026.
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May 3, 2022 Stanley Consultants (Stanley), an Iowa-based consulting engineering firm focusing on energy, water, transportation, and the environment sectors, has acquired Traffic Engineering Data Solutions, Inc. (TEDS), a Florida-based transportation engineering firm that provides traffic engineering/safety studies, traffic data collection, roadway design, traffic engineering design and Intelligent Transportation System (ITS) design. The acquisition of TEDS will strengthen Stanley’s Florida presence and broaden its transportation talent. EFCG served as the financial advisor to Stanley in its acquisition of TEDS. |
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May 4, 2022 Godspeed Capital Management LP (Godspeed Capital), a Washington, DC-based lower middle-market Defense & Government services, solutions, and technology-focused private equity firm, has acquired Rachlin Partners, LLC (Rachlin), a California-based architecture, planning, program management, and construction management (“PM/CM”) company focused on education and government facilities in California. Rachlin joins Godspeed Capital’s new Architecture, Engineering, and Consulting (“AEC”) services and solutions growth platform, Huckabee Architects, enhancing the platform’s value-added delivery while furthering its ability to provide cutting-edge, technology-driven design and engineering solutions in high-growth education and government markets across the United States. Furthermore, the integration of Rachlin expands Huckabee Architects’ geographic reach in the California market, the second-largest K-12 AEC education market in the United States. |
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May 5, 2022 Bowman Consulting Group Ltd. (Bowman), a Virginia-based engineering services firm specializing in planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement, and other technical services, has acquired McMahon Associates, Inc. (McMahon), a Pennsylvania-based provider of innovative engineering, planning, design, and transportation technology solutions. The acquisition of McMahon will expand Bowman’s transportation infrastructure services, specifically for projects oriented to roads and bridges, traffic and parking, signals and ITS (intelligent transportation systems), community transportation, and public transit. |
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About EFCG We are uniquely positioned with 30+ years proprietary industry data from 500+ private & public firms. We are proud to be the trusted advisor to the A/E/C industry. |
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| | | This Week's Briefing by: Clay Han chan@efcg.com |
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