EFCG Weekly Briefing: Week of July 25, 2022

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Week of July 25, 2022

Community Impact


Stanley Consultants recently named the recipients of their 2022 Scholarship Awards, which are presented annually to graduating high school seniors who are dependents of Stanley employees at all office locations. Selection is based on scholarship, character, financial need, leadership qualities, meaningful extracurricular activities, and academics. The $2,000 scholarships are used for tuition and books and are renewable for a second year.

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Industry News & Updates

US Senate Democrats propose surprise $369B Climate and tax package
    • The bill aims to tackle global warming by using billions of dollars in tax incentives to ramp up the wind, solar, geothermal, battery, and other clean energy industries over the next decade.
    • Senate Democrats estimated that the legislation would enable the United States to cut greenhouse gas emissions by 40% bellow 2005 levels by 2030, putting the US closer in line with the aggressive climate goals laid out by the Biden Administration last year.
    • Diplomats and climate experts said they hoped the deal would revitalize international efforts to tackle global warming, which have stalled in recent months as the War in Ukraine and surging oil prices have led many countries to focus on shoring up fossil fuel supplies.
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    Environmental Protection Agency (EPA) Adds $132M in Funding to National Estuary Programs

      • US EPA issued guidance on July 26 for place-based projects using $132 million in Infrastructure and Jobs Act funds being distributed via its National Estuary Program (NEP). The NEP, started in 1987, funds water quality and integrity recovery projects at 28 estuaries along the Atlantic, Gulf, and Pacific coasts, plus Puerto Rico, considered to be of “national significance.”
      • NEP’s infrastructure act funding would be evenly distributed among the 28 programs, each receiving about $900K annually through 2026.
      • The EPA guidance does not identify specific projects the money would fund, but rather, states that the work should address pollution and water quality, and the effects of recurring extreme weather events.
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      M&A Updates

      July 29, 2022

      EFCG is proud to have served as financial advisor to The Vertex Companies, LLC (VERTEX) on its acquisition of Fulcrum, LLC., an Arizona-based construction management consulting services firm that is well-positioned to serve its clients throughout the life of their project by providing due diligence, pre-construction, construction, and operations support. We look forward to all that the VERTEX and Fulcrum teams will achieve together in 2022 and in the years to come.

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        July 25, 2022

        Egis Group (Egis), a France-based consulting and construction engineering firm, has acquired SB Architects, a California-based architecture and design firm specializing in creating international hospitality destinations. SB Architects will merge with 10 Design, an Egis Group-owned international architecture practice, and will help to broaden Egis’ geographical reach and expertise in hospitality design. The acquisition reflects Egis’ strategic ambition to establish a portfolio of leading architecture practices throughout the world in critical building sectors in the aim of further driving synergies within the Group. Ross Milne, CEO of 10 Design, added: “This merger is another step along the way to expand upon 10 Design’s international footprint. The geographic office locations and design skills of each practice provide an incredible platform for multi-skill collaboration.”

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          July 27, 2022

          Jensen Hughes, a Maryland-based engineering and consulting services firm specializing in fire protection, forensic, and security engineering, has acquired Code Unlimited LLC (Code Unlimited), an Oregon-based building code consulting and fire protection engineering firm. The acquisition extends Jensen Hughes’ operating footprint in the U.S. Pacific Northwest and expands its client list by hundreds of accounts. Raj Arora, CEO of Jensen Hughes, stated: “They [Code Unlimited] care very deeply about purpose and principles and strongly emphasize the value of people, clients, industry, and performance. In addition, the Code Unlimited Pacific Northwest location is an area in which Jensen Hughes has been under-represented until now.”

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