Consolidation remains rife in the construction industry. Last year saw numerous deals, including the acquisitions of Louis Berger by WSP, Peter Brett Associates by Stantec, Alun Griffiths by Tarmac and Freedom Group by NG Bailey. Many of these deals were driven by overseas buyers looking to gain access to the UK and international markets (particularly US and Canadian buyers) or to obtain particular expertise in a specialist area. Construction innovation and digital delivery will spearhead a further round of consolidation as companies seek to acquire skills and SMEs struggle to keep up with technological advances. Despite the ongoing fallout from Brexit, it looks likely that UK construction firms, particularly consultants with higher profit margins, will remain an attractive target.
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