Weekly Briefing EFCG's summary of this week's news across the A/E/C industry |
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22nd Annual EFCG CFO Conference |
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| EFCG hosted our 22nd annual CFO Conference on May 28 and May 29, 2022 in New York City. The two-day event brought together CFOs and leaders from firms across the A/E/C industry to learn and discuss approaches to M&A, Technology, ESG & Sustainability, Financial Planning, Employee Compensation, Valuations, and Internal Ownership Transitions. We are delighted also to share that Alan Jennat, CFO of Arup, was awarded EFCG's 2022 CFO of Year for his successful financial leadership and focus on meaningfully improving diversity, equity, and inclusion at Arup and around his community. EFCG would like to thank everyone who was able to attend this year’s CFO Conference (both in-person and virtually), as well as to all our sponsors for their continued partnership! We look forward to seeing everyone again next year! |
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FHWA to Extend Inspection Requirements for Bridges - The Federal Highway Administration has issued a final rule that will extend inspection requirements for some of the nation's bridges from 24 months up to 48 months, and will also permit the use of technologies such as aerial vehicles and sonar to perform some of the inspections.
- FHWA’s new bridge inspection rulemaking seeks to comply with provisions contained in MAP-21, the 2012 transportation reauthorization law that established new requirements to update the National Bridge Inspection Standards program, which maintains a bridge inventory and reports the FHWA bridge inspection results.
- The regulations require inspections of bridges on all public roads, on and off federal-aid highways, including tribally and federally owned bridges, and private bridges connected on each end by a public road.
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EPA, Corps Moving Forward on WOTUS Rules Update - The U.S. Environmental Protection Agency and the U.S. Army Corps of Engineers plan to press forward with new rules defining the types of rivers, streams, and wetlands that fall under Clean Water Act protections.
- Coming to a consensus on how to define “waters of the United States,”(WOTUS), has vexed lawmakers, regulators, builders, and environmental advocates for decades, and is an issue that has reached the Supreme Court at least four times since the late 1990s.
- Last November, the EPA and the Corps of Engineers withdrew a Trump-era rule that aligned more closely with industry groups who favor a more narrow definition of WOTUS, as compared to environmental groups who say that ephemeral and intermittent streams, as well as headwaters, are vital to protecting water quality as required by the Clean Water Act.
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May 10, 2022 RSK Group Limited (RSK), a United Kingdom-based environmental, engineering, and technical services business, has acquired Fellows Construction Consultants Ltd (Fellows), a United Kingdom-based construction project and cost management consultancy firm. The acquisition of Fellows will expand RSK's geosciences and engineering division’s capacity to deliver high-quality expertise across both the public and private sectors, for projects ranging from residential and commercial to industrial, education, healthcare, retirement, retail, and leisure. Alan Ryder, founder and CEO of RSK, said: “As is our position with all businesses in the group, Fellows will continue to operate as it is now, retaining its leadership, brand and general ways of working while exploring the opportunities that come with being part of a larger group.” |
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May 11, 2022 Blackstone Energy Partners (Blackstone), the energy-focused private equity business of Blackstone, a New York-based alternative asset manager, has made a majority investment in Geosyntec Consultants, Inc. (Geosyntec), a Florida-based environmental engineering and design consulting firm, focused on delivering technical solutions to a wide range of clients to address their environmental restoration, geotechnical, coastal, water quality and supply, infrastructure, and energy transition needs. Peter Zeeb, President & CEO of Geosyntec commented: “Our partnership with Blackstone Energy Partners will fuel continued leadership in our core markets while accelerating our growth and success in new and emerging markets and geographies. It will also strengthen our ability to grow through strategic acquisitions and recruiting of top talent while enhancing our position as a preferred employer for innovative engineers and scientists." |
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May 12, 2022 Stanley Consultants (Stanley), an Iowa-based consulting engineering firm focusing on energy, water, transportation, and the environment sectors, has acquired Resilient Analytics (RA), a Colorado-based climate science firm focusing on the analysis and application of climate science on the built and natural environment. The acquisition of RA adds specialist adaptation and resiliency capabilities, services, and technologies to Stanley’s current service offerings, and underpins the firm’s commitment to providing data-driven environmental, social and governance (ESG) insights, reporting, and solutions to its customers and partners. Kate Harris, president and CEO of Stanley, stated, "Together with Stanley’s energy, water, transportation, and federal experts, we offer proven, transparent, and integrated science-led solutions that can help improve the quality of life of our clients and communities. In welcoming RA, Stanley is even better positioned to deliver on our vision and promise of a sustainable, connected, and enriched world.” |
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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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© 2022 Environmental Financial Consulting Group, LLC. All Rights Reserved. |
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