EFCG Weekly Briefing: Week of June 20, 2022

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Week of June 20, 2022


Celebrating International Women In Engineering Day

International-Women-in-Engineering-Day

In celebration of International Women in Engineering Day, EFCG would like to recognize all the contributions that women within the AEC industry make to create a more equitable and sustainable world. While progress has been made to support women across the AEC industry, only 25% of engineering-related positions are comprised of women, despite making up 54% of the US workforce.

As a women-owned and operated firm, EFCG is committed to helping to advance new opportunities for women inside and outside our industry and celebrates the groundbreaking impacts women have achieved in these roles!


Industry News & Updates

President Biden Recently Announces Proposal to Pause Gas-Tax for 90 Days
    • On Wednesday, President Joe Biden called on Congress to suspend the federal gasoline and diesel taxes until the end of September in hopes of providing relief for American consumers as inflation continues to surge around the country.
    • Construction and Engineering firms were quick to condemn this plan, as most of the revenue generated from gas and diesel taxes goes directly to the Highway Trust Fund. The White House estimates that the suspension would lead to a $10 billion loss in revenue for the Fund.
    • Michele Stanley, National Stone, Sand & Gravel Association VP of government and regulatory affairs, said in an email that these measures “cause greater uncertainty for state departments of transportation and project planners.”
    Read More

    UK Will Miss Net-Zero Target Without Better Green Career Advice, Think Tank Says
      • A report from the Learning & Work Institute and WorldSkills UK found that, while young people want to build careers that can help combat climate change and other environmental issues, there is a general lack of knowledge and understanding about the skills needed in the green sector.
      • Of the 1,162 young people aged 16-24 polled, 62% said they were passionate about sustainability, and 80% said it was important to work for an organization committed to tackling climate change.
      • However, most respondents said they had never heard of green skills, which range from technical skills needed in construction, engineering, and manufacturing, to more general skills, including change management, leadership, and communications.
      • The report cautioned this disconnect between available skills and the needs of employers, suggesting that, without more training and guidance to help young people pursue a green career, the UK was at risk of missing its net-zero targets.
      Read More

      M&A Updates

      June 21, 2022
      NV5 Global, Inc. (NV5), a Florida-based provider of technology, conformity assessment, and consulting solutions, has acquired GEO1, a California-based provider of geospatial lidar, aerial imagery, and data analytics solutions to utilities, government agencies, and the environmental sector. GEO1, acquired through an asset purchase of Aerial Filmworks, LLC, will help expand NV5’s geospatial analytics, data science, and aerial remote sensing capabilities to deepen its relationships with key utility clients and will immediately be accretive to NV5’s earnings. Dickerson Wright, PE, Chairman and CEO of NV5. “GEO1 excels in the development of geospatial data innovations that deliver actionable insights to its clients, and we are pleased to deliver additional technology capabilities to our utility clients.”
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        June 21, 2022
        SNC-Lavalin Group Inc. (SNC-Lavalin), a Canada-based engineering and construction firm providing engineering, procurement, and construction services, has acquired Flex Process, a United Kingdom-based process engineering, safety, and digital simulation company which specializes in the support and transformation of process plants in power and industrial sectors. The acquisition of Flex Process will enhance the company’s portfolio which encompasses services from other companies in the renewables, transmission and distribution, hydrogen, carbon capture, and storage, energy storage, and industrial decarbonization sectors. Ian L. Edwards, President and CEO of SNC Lavalin, stated that “we’re committed to advancing net-zero projects around the world by harnessing data and technology to give our clients more insight and certainty than ever before. The acquisition of a highly specialized firm with niche expertise will strengthen this offering.”
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          June 23, 2022
          Ares Management Corp. (Ares), a California-based alternative investment firm, has taken a majority stake in SLR Consulting (SLR), a United Kingdom-based environmental and sustainability consultancy firm. SLR’s largest shareholder and private equity investor, Charterhouse Capital Partners, will exit its investment in SLR, having doubled its headcount over the last four years and achieving double-digit revenue growth in that same period. The investment in SLR will allow Ares to expand its portfolio within the ESG consulting sector at a time when heightened focus on sustainability and supporting the acceleration of climate transition will continue to provide strong growth opportunities for SLR. Stephane Etroy, Partner and Head of European Private Equity with Ares, added, “We are excited to support SLR in this next phase of growth. With our global platform and relationship network, we believe that we will be able to support SLR in executing on additional levers of value creation in the coming years.”
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