Lots of buyers with lots of cash, in this country and from abroad, as well as motivated sellers, are fueling a rebound in merger-and-acquisition activity so far in 2010. While it may not yet equal explosive pre-recession rates, the M&A boomlet is being pushed by new catalysts, along with continuing market and regulatory uncertainties, observers say. “Defensive deal-making continued to be the hallmark of M&A activity through the first half of the year,” says Mick Morrissey, principal of Morrissey Goodale, a Newton, Mass., management consultant. “By the end of June, the pace of industry consolidation had stopped declining.” While numbers
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.