Revenue Remains on an Upward Track for MidAtlantic Firms
Steadily improving market conditions, plus some acquisitions, are producing higher revenue numbers for many large design firms throughout the mid-Atlantic region. Data from the ENR MidAtlantic 2015 Top Design Firm survey shows that total 2014 revenue for the top 20 firms on this year's list climbed 22%, to $2.76 billion, from $2.26 billion in 2013.
This year's survey results include firms' 2014 revenue earned in Delaware, Maryland, Pennsylvania, Virginia, West Virginia and the District of Columbia.
Dealmaking Activity
Acquisitions were a major factor in some firms' large bump in revenue. For example, AECOM, which acquired URS Corp. last year, saw a significant rise. In 2013, before the URS deal, AECOM recorded $290.8 million in mid-Atlantic revenue. With the addition of URS, AECOM's 2014 regional revenue more than doubled, to $616.5 million.
Arcadis also saw improved revenue, thanks in large part to acquisitions. The firm acquired Baltimore-based RTKL in 2007 and started including RTKL revenue in its regional reporting in 2014. As a result, Arcadis revenue jumped 13% last year, to $114.6 million, from $101.8 million in 2013. Arcadis also acquired Seattle-based Callison in 2014, but that firm has a limited presence in the mid-Atlantic states.
