Strong Global Demand for Flexible Office Space
The increasing migration of flexible office space and co-working locations to areas outside of major metropolitan cities is creating a ‘flex economy’ that could contribute more than $127 billion to U.S. local communities. According to a study conducted by IWG plc, opening a flexible workspace in the U.S. can produce an inflow of up to $18.88 million into the local economy per year. This rise in local working can be attributed to companies adopting flexible working policies, ultimately allowing employees to work closer to home, save money and boost overall productivity.1
The Convergence of AI and Audits
Emerging technologies such as artificial intelligence (AI), machine learning (ML), and predictive analytics are helping Big Four accounting firms improve the quality of their audits. Firms are leveraging improved access to data, cloud storage, and AI to support more in-depth analytics for the benefit of financial statement audits. The advancement of these technologies comes at a time when the Public Company Accounting Oversight Board (PCAOB) is also undergoing a strategic remodel to overhaul its quality-control rules for how it reviews audit firms.2
The Race for a Sustainable and Environmentally Friendly Society
The environmental consulting industry is experiencing strong growth, given the combination of tightening environmental regulatory requirements and the rising corporate pressure to implement greener, sustainable practices. Environmental consultants are frequently tasked with initial and strategic environmental assessments, as well as ongoing environmental building audits to ensure the quality and safety of corporate practices. As a result, industry revenue is expected to reach $16.7 billion by 2024.3
The Rise of Design, Research and Consulting Companies
The professional services industry is expected to yield significant opportunities in the design, research, promotional and consulting services through 2022. Professional services firms will continue to focus on market-trend based strategies such as catering to niche markets, using 3D printing technology to expedite the release of products, and collaborating with micro-influencers for marketing campaigns. Firms have also begun shifting revenue models from per-hour/month to value-oriented pay as these companies strive to establish market presence as advisors to clients, rather than solely service providers.
Downstream Buyers Fueling the Agribusiness Industry
The agribusiness industry is forecasted to experience a slight rebound over the next five years. This can be attributed to improved economic factors, which have enabled downstream buyers to demand more agricultural products and services. Continued demand for food from developing countries and limited support for biofuel production are also anticipated to drive demand for agribusiness products. Agribusiness total industry revenue is expected to grow to over $2.6 trillion by 2024.4
Largest Transactions Closed
- Navigant Consulting, Inc.
- Guidehouse LLP
- NRC Group Holdings Corp.
- US Ecology, Inc.
- Quantum Spatial, Inc.
- NV5 Global, Inc.
- Ecology & Environment, Inc.
- WSP Global Inc.
- HawkEye 360, Inc.
- Advance Publications, Inc.
- Energy and Environmental Economics, Inc.
- Willdan Group, Inc.
- North American Telephone Answering Services Business Of Stericycle, Inc.
- Map Communications, Inc.
- Corvus Consulting, LLC
- BioNovelus Inc.
- Winslow Evans & Crocker, Inc./Winslow, Evans & Crocker Insurance Agency, Inc/Winslow Financial, Inc
- National Holdings Corporation
- Substantially All Assets of Interlogic Outsorcing Inc.
- PrimePay, LLC
This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.
EBIT - Earnings Before Interest and Taxes