Finding the right M&A counterparty, structuring win-win transactions, assessing valuations, successfully integrating, and more.
Karl Wohler, Senior M&A Advisor and Mitch Mafra, Senior Consultant, PSMJ Resources, Inc. 

We kick off the AEC M&A Summit with an overview and high-level look at the current market for architecture and engineering firm services and bold predictions about where the growth opportunities lie, based on PSMJ research on proposal activity.

It's been a busy year for AEC merger and acquisition activity... will it stay this hot in 2025 and beyond? Hear our first-rate expert panel give their candid opinions on the economic, business, and political changes on the horizon that could drive changes to your strategy. 

• Karl Wohler, A/E/C M&A Consultant, PSMJ Resources (moderator)
• Bjorn Morisbak,  Executive Vice President, Corporate Development, Stantec
• Joe Viscuso, Senior Vice President and Director of Strategic Growth, Pennoni
  

Moderator:
Todd Musterait, Director, Corporate Development and Investments, Hatch
Consolidation of the AEC industry has accelerated with the increased participation of private equity and other financial institutional investments. For sellers, what are the various ownership structures, how are they different, and what benefits do each offer to achieve your goals for in a potential transaction?

In this panel conversation, you learn from leaders of firms with private partnership model, ESOP, PE owned or backed, and publicly traded. How do each approach a deal, what are their priorities (and do they agree with yours), and where do we see the AEC M&A landscape changing over the next few years. This session will help sellers navigate the landscape of options while providing buyers with peer perspectives on getting great deals done.

Key Takeaways:

• Identify the various AEC ownership models, trends, and future of M&A transactions.
• Learn how each type of ownership model operates and what is important to them in a transaction to help you evaluate and be successful.
• What approaches should you take (as a seller or buyer) and what are the most important items to focus on for success.
• Learn what to ask buyers early in the process to assess your fit
• Understand what to expect after the deal is signed under each ownership model (you might be surprised!)

Todd Musterait brings 30 years of AEC experience directing environmental and engineering businesses and programs as a professional consulting services and industry leader. He has served in various corporate leadership roles responsible for business performance, P&L management, corporate development, mergers and acquisitions, and investor relations. He is an experienced growth strategist building businesses through acquisition and organically for public, private, and private equity corporations.

Todd supports investment and business leaders with the AEC market including private equity in developing market platform strategies, M&A, opportunity identification and review, and industry corporate board advisory services.

As President, Todd created and implemented a turnaround plan for Ecology & Environment, Inc., a publicly traded company listed on NASDAQ as "EEI", that led to the sale of the business to WSP in December 2019 at a 53% premium to shareholders.

• Mike Mathews, P.E, Senior M&A Advisor, PSMJ Resources (Moderator)
• Trevor Garfield, Director of M&A, Westwood Professional Services
• Bjorn Morisbak, EVP Corporate Development, Stantec

How are the most successful M&A dealmakers finding acquisition targets? How can you avoid duds, and weed out those with unreasonable expectations? 

Risk assessments in AEC M&A transactions are valuable tools for evaluating essential operational and practice management categories. Based on the extensive review of AEC claims, these are the main drivers leading to disputes, claims and litigation. Weather considering to buy or sell, you'll benefit from the insights of former Bechtel and EG&G risk assessment and mitigation expert Tim Corbett as he explains how risk assessments can allow for a more informed decision related to risk and liability exposures.

• AEC professional liability claims trends
• Understanding enterprise risk management categories
• PwC and Accenture Survey Findings
• Risk assessment process including risk ratings
• Characteristics of the higher performing AEC firms

Timothy (Tim) Corbett, Founder and President of SmartRisk, has extensive experience developing and implementing risk and performance management programs for design and construction professionals. Tim implemented model programs for numerous organizations including international firms Bechtel and EG&G where he obtained a Department of Energy (DOE) Top Secret Security Clearance.

Tim held Vice President positions with industry leading insurance carriers with responsibilities for Underwriting, Risk Management, and Claims Analysis.

Tim is a member of ACEC, AIA, the United States Green Building Counsel (USGBC) and the Enterprise Risk Management Academy (ERMA) and sits on their educational advisory board. As a member of a number of national committees, Tim is regularly called upon as a speaker at regional, national, international forums.

As Director of Communication at 2,000-strong Johnson, Mirmiran & Thompson, Becky Rehorn is a key player in making sure every acquisition the engineering firm makes is successful. Join her as she shares her 5 essential strategies and practices to ensure a seamless transition during transformative events and mitigate the impact of uncertainty, fear, and resistance among employees, stakeholders, and clients. You get a working toolbox for covering pre-acquisition planning, stakeholder engagement, message consistency, leadership's role, and feedback mechanisms.

• Comprehensive communication strategies before acquisition announcements.
• Techniques to maintain trust and morale among employees, customers, and stakeholders.
• Clear, consistent, and aligned messages to prevent misinformation and confusion.
• How leadership can model effective communication and address concerns.
• Channels for receiving and addressing feedback to foster openness and continuous improvement.

As Operations President – Design & Consulting for the Haskell Company, Frank is a member of the Executive Leadership Team bringing practical insights into cultural alignment to M&A planning and execution.  Here's his key argument born of experience: the theory is that if there is alignment, the integration will more likely go smoothly, there are still many administrative changes for which cultural alignment alone may not be enough. As two firms blend systems, policies, and procedures, one firm’s or the other’s employees will experience significant change. While many of these transitions may be administrative and tactical in nature, there is a strategic risk of change saturation eroding engagement of the employees if not handled properly. Often hundreds of individual decisions need to be made from what type of computers to buy to which corporate travel service use to what the vacation policy will be. The choice in the decisions is often less important than how the decisions are made and how they are ultimately communicated to the affected parties. When the main goal of the merger or acquisition is expansion of human capital, a loss of engagement can take years to rebuild, if ever. With some planning and use of basic change management strategies and tools, the integration can meet the administrative needs of the organization and preserve the human capital that was the primary purpose. 

•  Assessing the magnitude of change involved in a merger or acquisiti
• Risk of change saturation and lessons learned
• How emotional intelligence in your integration team pays dividends
• How to coordinate change among departments

Dawson Fercho, CTA

Jonathan Wilson, Senior Consultant, PSMJ Resources

Todd Buchholz
Economist and Former Head, Tiger Investment Fund
Renowned economist, White House advisor, and best-selling author Todd Buchholz connects the dots between Wall Street, Main Street, and financial capitals throughout the world. An internationally known consultant on global markets and winner of Harvard’s annual teaching prize, Buchholz advises the world’s leading companies and "lights up economics with a wickedly sparkling wit."  We get to tap into Todd's frontline experience as White House director of economic policy and managing director of the Tiger investment fund to get a better sense of where opportunities lie in the near term.  

• Discover how demographics, technology, and globalization are reshaping the economy and our future
• Pinpoint the signs of stock market rallies, and the warning signs of slumps
• Identify the political pressures on trade, debt, and interest rates from the U.S. to the E.U. to China

See how Private Equity strategy for AEC has changed, and will continue to evolve, to ameliorate seller concerns and drive stronger long-play deals.

• Karl Wohler, Senior M&A Advisor, PSMJ Resources (moderator)
• Kenny Nickens, Principal, Kaltroco and former VP, Comvest
• Brian Kirkpatrick, Partner, Palm Beach Capital
• Ira Starr, Partner, Long Point Capital
• Norm Scherr, Managing Partner, Providus Capital Partners

Join us for a deep dive on the legal due diligence, accounting, and tax implications when buying or selling an AEC firm.

• Mitch Mafra, M&A Advisor, PSMJ Resources (Moderator)
• Austin Carlson, CPA and Attorney, Gray Reed
• Carl Shaw. Executive Vice President and General Counsel, LJA Engineering

See how M&A tax and legal professionals navigate due diligence, tax strategy, and regulatory guidelines across AEC M&A transactions. They will discuss the topics and trends that often happen "behind the scenes" following an LOI, including:

• Due diligence (financial and legal)
• QoE and purchase price adjustments
• Tax structuring and implications
• Representations, warranties, indemnities
• Regulatory and compliance issues
• Employee and benefits considerations
• Integration planning
• Post closing disputes and adjustments (earn out calculations, working capital adjustments, legal disputes)
• Financing and escrow arrangements

Issues that arise from tax and legal pitfalls can cost buyers and sellers thousands, even millions. Learn how to avoid these million dollar mistakes from tax and legal professionals with experience working on AEC M&A transactions.

Michael "Mick" Renshaw
CEO, Trilon Group 

Join Mick Renshaw, CEO of Trilon Group, in discussing what’s causing the increased consolidation in the AEC space. Mick’s vast M&A experience from a variety of perspectives (buyer, seller, public, private) provides a unique viewpoint on all aspects of the M&A process; what buyers are looking for, what options exist for ownership transition, and what key considerations leadership should account for when determining the best course of actions for their company’s future. He also explains Trilon Group's strategy for increasing value after an acquisition and what a rollover amount could become on a second bite exit.

Donya Edler
Director of Marketing and Communications
LJA Engineering
Remember the saying, “Culture eats strategy for breakfast”? Well, there’s more on the plate! This session will unveil the often overlooked yet crucial elements that help determine the success of mergers and acquisitions. From the pre-deal groundwork to the post-merger integration, discover the power of cultivating company culture, crafting a strong brand identity, and engaging employees for the long term. We’ll explore how other companies have navigated the human side of M&A and discuss when and how considerations relating to these factors come into play during each phase of your company's M&A lifecycle.

Get ready to rethink your M&A approach and elevate your understanding of the vital role that culture, branding, and employee engagement play in shaping your desired outcome. AEC principals who consider these elements as strategic imperatives, not an afterthought, will position their companies for a more seamless and prosperous M&A journey.

Donya is an AEC professional with 25 years’ experience spanning marketing, communications, and human resources. Her experience in mergers and acquisitions, brand management, public relations, crisis communications, and media relations, has been on a local, national, and global scale, and all within the AEC industry. During her career, Donya has been involved in over a dozen mergers and acquisitions including two multi-billion-dollar transactions. As Director of Marketing and Communications at LJA Engineering, Donya leads branding, communication, and marketing integration strategies supporting the firm’s dynamic M&A growth.