Construction industry

Concepts in Millwork is a family-owned, specialized subcontractor that designs, fabricates, delivers, and installs custom architectural millwork. The business has operated for over 40 years. Customers include many commercial entities and municipal, state, and federal governments. They have completed diverse projects in the healthcare, higher education, entertainment, recreation, hospitality, luxury living, and residential industries.

Benchmark is pleased to announce the transaction between Vision BP, LLC & US LBM Holdings, LLC. The transaction represents a strategic expansion for US LBM Holdings, LLC, as they work to achieve scale through acquisitions and continue to expand their geographical presence.

Benchmark International has successfully facilitated a transaction between LaGrange, GA-based D & D Roofing, Inc. (“D & D”) and Atlanta, GA-based Bell Roofing. D & D is a commercial roofing and sheet metal fabricator offering thermoplastic polyolefin (TPO) systems, as well as sheet metal gutters, downspouts, copings, and associated flashings.

Benchmark International is pleased to announce the transaction between Satex Plumbing, Inc. and Bleuwave General Contracting, LLC. The transaction represents a strategic expansion for Bleuwave General Contracting, LLC, as it works to achieve scale through acquisitions and expand into the Texas market. 

Benchmark International has successfully facilitated the transaction between Fredericksburg, VA-based Fredericksburg Machine & Steel, LLC dba Viking Steel Fabricators and Norfolk, VA-based SRF, LLC dba Chesapeake Bay Steel, Inc.

The construction industry is growing significantly worldwide, especially in developing countries. As a result, there is a rising demand for Heating, Ventilation, and Air Conditioning (HVAC) systems in residential, commercial, and industrial sectors. This growth is being driven by ongoing urbanization and infrastructure development.  

The global roofing market is growing at a compound annual growth rate (CAGR) of 3.7% from $267.64 billion in 2023 to $277.42 billion in 2024. This growth can be attributed to growth within construction and real estate, urbanization trends, climate and weather, architectural styles and trends, and the need for maintenance and replacement.

Latrobe Foundry Machine & Supply Co. was founded in 1933 by Louis C. Steiner and is a leading manufacturer of high-quality threaded and flanged aluminum pipe fittings and hardware. Latrobe Foundry Machine & Supply Co. is a multi-location manufacturer with an established product line in various businesses, including aerospace, agricultural, chemical, construction, and marine industries.  

The global equipment rental industry is rapidly expanding, with the global market size forecast to reach $120.7 billion by 2027. The equipment rental industry is set to experience significant growth in the coming years and is becoming an increasingly important part of the global economy.Construction Equipment RentalThe construction equipment rental segment accounts for the majority of total revenue in the sector globally.The global construction equipment rental market was valued at $109.4 billion in 2022. The market is forecast to reach $153.1 billion by 2028, growing at a compound annual growth rate (CAGR) of 5.59% between 2023 and 2028. The construction equipment market includes material handling, earthmoving, concrete, and road construction. Earthmoving equipment dominates the construction equipment market. Regarding propulsion systems, the market can be segmented into electric and internal combustion engines (ICE), with the latter holding the most market share. The construction industry is thriving worldwide, and there is increasing investment in infrastructural development. These factors are driving the growth of the construction equipment rental market. In addition, as populations rise, governments and private stakeholders invest more in residential and public infrastructure to support their economies. Also, automation in the construction sector is another key growth driver. Rental companies offer high-tech machinery equipped with artificial intelligence (A.I.) and professional operators. The goal is to cut the overall costs for the companies leasing the equipment and enhance operational efficiency. Other factors driving the construction equipment rental market include urbanization, smart cities, and the developing of advanced equipment with sustainable and eco-friendly features.Oil & Gas Equipment RentalThe oil and gas sector is expected to contribute to the growth of the equipment rental market because of increased exploration. As the industry increases its activities, the need for rental equipment to support these activities will also increase. Oil and gas exploration activities are projected to contribute significantly towards future market expansion, as well as digitalization, which could result in a CAGR of 5% by 2025. The drilling rig sector is expected to dominate the market due to the increasing exploration and production activities. Also, advancements in deepwater drilling activities in regions such as Brazil, Norway, and the United Kingdom are expected to create ample opportunity for market players in the coming years. While countries such as Argentina, Canada, Australia, and China are investing in the exploration and production of shale oil and gas reserves, North America is forecast to be the largest market for oilfield rental services due to increasing oil and gas activities and offshore reserve exploitation in the U.S.Power Equipment Rental Power equipment rental is also referred to as power on hire. It offers several advantages over purchased power equipment. Rented generators provide flexibility, carry lower maintenance and installation costs, are available on short notice, and offer lower initial prices. Power outages are increasing the demand for reliable backup power sources in both industrial and commercial sectors, driving the adoption of power rental equipment. Additionally, mining activities are among the highest energy consumers from generators, as most mining activities occur in more remote areas outside the power supply grid. The power rental market is expected to reach $28 billion by 2026, indicating that it is a lucrative and growing market. The industry is expected to experience significant growth in the coming years. DigitalizationThe digitalization of equipment rental services is forecast to boost market growth by a CAGR of 5% by 2025, showing significant potential for the industry in the coming years. Such a considerable increase could result in more efficient and cost-effective rental services and increased customer satisfaction.The Internet of Things (IoT) is also a driving market trend, allowing companies to track their assets’ movements and offering them more visibility and control on hand. The IoT can also extend the lifecycle of equipment and lower costs through more carefully tracked data metrics. Some estimations report that the IoT has the potential to cut maintenance costs by up to 40% and equipment downtime by up to 50%. The IoT has also been shown to cut costs and time regarding inventory tracking and reduce human errors.Equipment rental companies also use A.I. for customer relationship management (CRM) purposes. This offers them a better understanding of their customer’s preferences and behavior patterns. It can also aid in getting more accurate order tracking and delivery information, help rental companies automate relationship management, offer better support, and adapt quickly. 

The construction materials industry is comprised of suppliers of the raw materials used by builders in both commercial and residential construction. This wide array of materials are both natural and man-made:

The segment of the trillion-dollar construction industry that includes building and maintenance offers opportunities for growth in both residential and nonresidential building construction. Buildings are becoming more intricate as owners and residents expect more from their homes, workplaces and other structures. There are major opportunities for construction and ser­vice providers due to the required maintenance of new systems, and the need to upgrade or replace existing systems. This is a great driver of mergers and acquisitions interest and activity in the sector.

The engineering services sector is made up of Engineering Services Outsourcing (ESO) firms or Engineering Service Providers (ESPs) that specialize in planning, design, and technical work at each stage of a product lifecycle. ESO is commonly used by industries such as construction, automotive, telecom, energy, transportation, pharmaceuticals, and manufacturing. Among the services offered by ESO that are consistently in high demand are structural, architectural, civil, and electrical engineering.

The construction drilling industry is a very diverse market that handles various private and public contracts that include infrastructure expansion, excavation, road boring, poly piping, trench work, geotechnical drilling, and foundation drilling.

The HVAC industry is considered to be very stable at this moment in time. Many experts believe the outlook for both buying and selling parties will remain positive. As public interest and government regulations continue to push for energy-efficient designs and products, deployment of more advanced cost-effective HVAC systems has increased. This is expected to drive consolidation of HVAC organisations as they look to increase their ability to scale and grow in both commercial and residential markets. Despite uncertainty surrounding a possible recession, there has been no signs of slowing in the M&A industry amongst HVAC businesses.

The outlook for the global construction market for the year of 2019 remains positive, with an expected five-percent sector-wide growth in revenue. Robust economies, low interest rates, and increased infrastructure spending are key factors behind the increased confidence. The world’s fastest growing market is the Asia Pacific region, due to growing investments in China and India’s construction sectors. In North America and Europe, growth is being driven by new technologies in already strong construction markets. Also, a number of South American and Middle Eastern countries may see their markets recover in the coming year and have the potential for growth in the future.