217%annualised growth rate in US data centre construction spending since May (ABC)
$311.2MLimbach Q3 bookings, a 1.4x book-to-bill
8 of 16nonresidential categories that grew in September
Data Centres & Earnings
Data centre spending is growing at a 217% annualised rate
Total US construction spending fell 1.9% in September, but data centres jumped another 8.6%. ABC expects the gains to favour bigger contractors.
Read the full story →Limbach books $311.2M as owner-direct work grows again
Record revenue of $230.5M, up 24.9%, with two acquisitions adding a Wisconsin MEP contractor and data centre commissioning expertise.
Read the full story →Why it matters: take out data centres and power and nonresidential spending fell in September. Mid-size contractors are buying their way into that work rather than waiting for it.
Low-Voltage & Fire: Roll-ups
Beacon Communications buys Chicago's Low Voltage Solutions
The Lockport firm does cabling, security, fire alarm and AV for clients including Northwestern, Argonne National Laboratory and Verizon, with union electricians in the field.
Read the full story →Pye-Barker adds St. John's Fire Equipment in Florida
A small suppression and extinguisher service firm joins a network of 250+ locations and about 9,000 people.
Read the full story →Why it matters: the platforms are buying customer lists and field teams one metro at a time. The people who hold those relationships are the real asset.
Talent Insight
Narrow booms make for expensive hires
- Growth is concentrated, so hiring demand is too. PMs, superintendents and commissioning agents with data centre or power experience will keep costing more than generalists.
- Every roll-up needs a local leader. The general manager who already knows the customers is usually the hardest hire in a buy-and-build plan, and the one most worth keeping.
- Worth noting: Hospital, military and warehouse construction were each up 30% or more on a year earlier. Healthcare MEP experience is quietly becoming another scarce skill.
Building a team in MEP?
Matthew Peck & Tom Brennan specialise in MEP hiring at QP Group. Talk to Matthew or Tom about the market, salaries or a search.
Matthew PeckBusiness Consultant · MEP
Tom BrennanSenior Consultant · Heavy Civil Construction