2021 Was a Record Year

In 2021, dealmakers worldwide announced $5.6 trillion in M&A transactions (that’s 30% higher than the previous record), and the U.S. reported $2.9 trillion in transactions (that’s 40% higher than the previous record). While 2021 may have been a record-breaking year for middle-market M&A activity, 2022 should be an excellent year for sellers. 

Last year several factors drove deal activity to new heights:

• Pent-up activity from the previous slow year because of the COVID-19 pandemic
• A wealth of capital seeking investment opportunities
• Potential tax changes this year
• Strong economic growth
• Continued low-interest rates

Benchmark International is pleased to announce the acquisition of Stirling-based The Leadership Factory by London-based Tack TMI.

The Leadership Factory conducts leadership, management, and organisational development programmes with services aimed at increasing clients’ existing management capacity, enhancing leadership, developing structural efficiency, and engaging employees.

Tack TMI is a training provider that focuses on learning in sales excellence, customer experience, leadership and management development, personal development, change and innovation, and safety culture. The company was acquired in 2016 by GI Group, Italy’s largest multinational staffing company. As part of GI Group, TMI Tack operates across over 55 countries and in 37 separate languages.

The acquisition further enhances Tack TMI’s UK coverage and strengthens the leadership development and executive coaching capability within its global learning offering.

Dr Andy Kelly, managing director at The Leadership Factory, said this about working with Benchmark International: “Worked with Andrew Roberts to sell our consulting business. Great service, great communications, great result! Andrew is a pleasure to work with and takes the emotions out of the process.”

In dollar value alone, the oil & gas sector is the world’s largest industry, employing a massive workforce of around 4 million people globally. The major oil companies account for a significant percentage of a country’s national GDP. The world’s largest producers of oil are the U.S., Saudi Arabia, and Russia.

In 2021, the oil & gas sector recovered well, with oil prices climbing to their highest levels in six years. Total revenues for the oil & gas drilling sector in 2021 came to approximately $2.1 trillion. The global oil & gas market is forecast to reach $7425.02 billion in 2025. That’s a compound annual growth rate (CAGR) of 6%. This growth is primarily due to companies shifting their operations during recovery from the effects of the COVID-19 pandemic. Low-interest rates positively impacted the oil & gas industry in most developed countries. 

The global oil & gas exploration and production sector account for a large chunk of the global economy. The growth of this sector is expected to increase in the future, with OPEC crude oil production averaging 34.15 million b/d in 2022.

After the trials and tribulations of 2020, no one really knew what to expect going into 2021. Yet, for the world of M&A, it couldn’t have been a more pleasant surprise.

Last year has most certainly been a record year for M&A deals, making a huge comeback from 2020. In 2021, the number of announced deals exceeded 62,000 globally. That’s up an unprecedented 24% from 2020. Deal values reached an all-time high of $5.1 trillion.

Almost all sectors are showing signs of recovery from 2020. Values are up and multiples are rising, with strategic M&A multiples at an all-time high (a median multiple of 16x EV/EBITDA).

Mergers and acquisitions in each industry have their own oddities, and architecture is no different from any other in that regard. However, the following similarities always seem to rise to the top when selling a firm.

Lead Architects are the Key to the Business’ Value.

At the end of the day, like all professional services businesses, the most valuable asset walks out the door every day – and – there is nothing you can do to force them to come back the next day. Acquirers are very aware of this, and when buying architecture firms, they will take extreme measures to ensure that they will return not only the day after the deal closes but for years to come. As a result, almost every deal in this space involves broadening corporate ownership to include, typically, the most senior/valuable 10% of the firm, covering the rainmakers, the client managers, the project managers, and the most brilliant experienced architects. If the owner falls into one or more of these categories, they should expect to retain some equity and sign a multi-year employment agreement.

Private equity transactions on a global scale returned to form in 2021 following the challenges posed by the pandemic, with private equity firms deploying record amounts of dry powder held as they looked to invest cash accumulated during the pandemic.

According to Mergermarket, a record was set for the percentage of M&A deals that involved private equity, with buyouts comprising 27% of global activity in 2021. This totalled 8,548 deals worth $2.1tn, nearly doubling the previous record set in 2007. Deal volume was also staggering, showing a 60% increase year-on-year.

Looking to 2022, it appears that global private equity deals might continue in the same vein, as private equity houses still have approximately $2.3tn of cash reserves. This, coupled with increasingly positive economic conditions such as a brightening global economic outlook, seller-favourable valuations, and low interest rates, are instilling confidence in the market.

At Benchmark International, the Transactions Teams stay abreast of industry trends to ensure the best and most suitable deals are completed for clients. As a result, throughout 2021, Benchmark International in the UK and Ireland has completed 18 transactions involving a private equity buyer. These include:

There are several changes to tax policy on the table in the United States under the Biden administration. The administration has discussed tax increases on high-income earners at some point in the future, while the timing is yet to be determined. If you are a business owner considering the sale of your company in the next few years, you may want to speed up your timeline because waiting could mean you have to pay higher taxes if laws do change.

The COVID-19 pandemic disrupted normalcy in several aspects of the world as we knew it, and one of the things hit especially hard has been the global supply chain. These supply chain problems have impacted nearly every industry and business, both large and small. Because of so much continued uncertainty in supply chains—uncertainty that is expected to last for years—business owners and executive leaders are reassessing operations and seeking paths to gain more control.

Gregory Jackson, Benchmark International’s CEO, was named International CEO of the Year (Corporate Finance) by the Gamechangers™ 2022 Global Awards, adding to his growing and impressive list of accolades.

Gamechangers™ is a leading corporate news publication, serving the finance sector since 2003. They provide a global audience of more than 245,000 senior executive-level subscribers with valuable information.

The Gamechangers™ Global Awards are the largest program of their kind in the market, celebrating achievement, innovation, and brilliance in the industry. They have a legitimately independent nomination process, and the industry itself chooses the winners. They rely on reader insight and experience for the nominations and look for exemplary businesses that are the benchmark of achievement in their field on a global level. Firms of all sizes are recognized, and the awards represent an endorsement of outstanding work. In addition, the awards are the only industry honors awarded purely on the basis of voter participation.

Steven Keane, Executive Chairman of Benchmark International, said, “I can’t think of a more deserving recipient of this award. Greg inspires our team to raise their game every single day, and his dedication combined with their talent is why we earn such high esteem and respect from our industry peers.”

There are basically four possible outcomes for retirement plans in an M&A deal: 

• The plans of both companies are merged.
• The plan at the acquired company is terminated.
• Both plans from both companies are maintained.
• The plan from the acquired company is frozen.

So, what do you need to know if these circumstances apply to a deal that you are involved in?

Benchmark International is pleased to announce the acquisition of Scunthorpe-headquartered Shift Traffic Events to Oxfordshire-based Chevron Traffic Management.

Shift Traffic Events specialises in traffic management within the events and utilities sectors, including high profile events such as the London Marathon. The company employs over 150 people and has depots in Scunthorpe and Essex.

Chevron Traffic Management provides physical and digital traffic controls for organisations working within utilities, rail, high-speed network, local authorities and events which need to disrupt normal traffic flow. It has 30 depots across the UK, including one in Scotland which operates as Class One Traffic Management. The company has been owned by Triton, an international investment firm, since 2018.

Chevron Traffic Management is part of the Chevron Group of companies, which includes Chevron Green Services, Chevron Green Consultancy, Class One Traffic Management and Highway Resource Solutions (HRS).

The acquisition is part of the company’s buy and build strategy and will help Chevron Traffic Management to expand their existing capabilities in traffic management within the events and utilities sectors, alongside other specialisms like digital services and arboriculture.

Benchmark International’s client Classic Emporium, DBA Rain Tunnel Car Spa, a New Mexico-based company providing vehicle wash, detailing and quick lube services, has sold to Champion Xpress Car Wash, a family-owned and operated business with multiple locations across New Mexico, Colorado, Utah and Iowa.

Perfusion.com (PDC) is the leading provider of staffing services to the U.S. perfusion industry. The company’s core perfusion staffing services include autotransfusion, blood management and biologics services, the sale of disposables, capital equipment leasing, training and education services and patient transportation. The company is headquartered in Fort Myers, Florida.

Englander Enterprises, Inc. (EEI), of Clearwater, Florida, provides mission-critical electronic and electromechanical solutions for aerospace, defense, and homeland security applications. Founded in 1993, EEI’s clients include an elite list of Tier-1 defense prime contractors and government customers, with solutions integrated into a broad array of the country’s highest-priority defense platforms and programs.

Benchmark International has been named the International Mid-Market Corporate Finance Advisory of the Year by Acquisition International’s ACQ Global Awards.

Acquisition International is a growing publication, currently having a circulation of 108,000 readers in more than 170 countries.

Each year, Acquisition International highlights some of the most renowned and innovative professionals around the world through these awards. According to the publication, their “dedicated team ensures that the awards are allocated only to the individuals and firms that truly deserve them and have demonstrated excellence within their respective fields.” This includes the largest international corporations and smaller firms and individuals in the business. In addition, they select the award recipients based on achievements, endeavors, and efforts made over the previous year rather than getting votes from companies, individuals, or other third parties.

Award winners are chosen through an internal process of research, analysis, shortlisting, and selection. First, an in-house team uses publicly available sources such as local and national press, industry journals, client recommendations, press releases, and other published works to find candidates based entirely on merit. Then, each is carefully scrutinized to narrow down a shortlist that is then followed by a final list.

Throughout the process, factors taken into consideration include sector expertise, experience, industry recognition, innovation, client testimonials, reputation, firm performance, leadership, and extracurricular activities. They aim to showcase the industry’s very best and serve as a trusted guide for those seeking trusted experts.

The Benchmark team is proud of this honor and looks forward to continuing to be pioneers on the global financial advisory stage.

WHAT IS SECTION 1202?
In the United States, Section 1202 is known as the Small Business Stock Gains Exclusion. It is a section of the IRS code that allows capital gains from Qualified Small Business (QSB) stock to be exempt from federal taxes when selling. But not all small business stocks qualify:

Benchmark International was named International Gamechanger of the Year for 2018 by the Gamechangers™ACQ Global Awards.

Benchmark International was named International Advisory Experts by the Global Advisory Experts Awards. 

Benchmark International is pleased to announce the acquisition of Manchester-based CorEnergy by Kent-based Sureserve in a £7.5m deal.

CorEnergy was established in 2014 to capitalise on market growth in LED lighting and renewables. Focused on providing sustainable energy services for public and private sector organisations, the company provides cost analysis, design, supply, installation and commissioning of LED lighting and controls, solar photovoltaics, electrical vehicle charging, battery storage, and renewable heating solutions.

It is expected to achieve revenues in excess of £6m and EBITA of £1m for the year to 31 December 2021.

AIM-listed Sureserve, currently valued at £148m and employing over 2,100 people, is a compliance and energy services group. The bolt-on deal expands Sureserve’s range of energy services, with CorEnergy providing the firm with new expertise in solar power and electric vehicles.

The maximum total consideration payable for CorEnergy by Sureserve is £7.5m, with an initial £5.9m payable on completion, including £2.9m in cash and the issue of 3,281,879 new ordinary shares of 10p each. Further deferred consideration of up to £1.6m may be payable, split equally between cash and shares, depending on CorEnergy's full-year results to December 2021.

At the 20th Annual M&A Advisor Awards, Benchmark International was awarded M&A Deal of the Year (100M-250M) for the acquisition of PBK Architects by DC Capital Partners.

As the 23rd largest US-based architecture firm, PBK, based in Houston, Texas, and its subsidiaries in California, Beijing, Shenzhen, and Hong Kong, employ more than 500 architects, engineers, and related professionals.

In addition to its Top 25 status, in 2019, PBK was ranked as the “#1 Education Design Firm” by Engineering News-Record (“ENR”), widely regarded as the engineering and design industry’s premier publication. Specializing in K-12 projects and, in particular, large public high schools, PBK has long been the go-to firm for sustainable design and next-gen integrations in particular. The company also focuses on two related building types—higher education and sports facilities.

This transaction followed closely on the heels of 11 other deals that Benchmark International closed in the architecture, engineering & construction (AEC) space in the first half of 2020.

At the 20th Annual M&A Advisor Awards—known as the Oscars of the M&A world— Benchmark International was awarded Investment Banking Firm of the Year. The awards are presented by The M&A Advisor, and the winners were announced at the Gala Ceremony live event held in New York City on November 17, 2021.

Benchmark International beat out the other nominees, which included Capstone Partners, Clearsight Advisors, DC Advisory, Drake Star Partners, Generational Group, Leonis Partners, and Raymond James.

These awards serve as the industry benchmark for dealmaking excellence, recognizing the leading M&A transactions, restructurings, deal financings, products/services, firms, and professionals.

Every company has its own unique circumstances and needs. As a business owner, you can choose from a number of different ways to transition out of your company in a sale or before retirement. When succession planning, you should consider your goals for both the company and your life after the transition, such as financial requirements and how much you want to remain involved in the business. Adequate succession planning ahead of time can also help to create significant value for your company.

A transition of a business can be internal or external. Under an internal transition, the company is usually passed on to the next generation of family or a management team member. In an external transition, a strategic or financial buyer purchases the company, either completely or partially. There is also the option of an employee stock ownership plan (ESOP), which falls somewhere in between an internal and external transition.

Full Business Transition
A complete transition occurs when 100% of company ownership is sold to an investor, such as a strategic buyer or private equity firm. Under a full sale, there is a complete change in ownership control, either as a stock deal or asset purchase. Complete transitions are most often asset purchases because it assuages certain liabilities from the buyer. The owner could be required to stay involved with the business through a transition period that can range from months to years, especially if they are a key part of management.

Business valuations in a full transition are based on competitive negotiations. In many sectors, a multiple of the company’s EBITDA (earnings before interest, taxes, depreciation and amortization) and factors such as size, profitability, industry, customer base, and location. In a complete sale, the seller is often given the majority of transaction proceeds upfront, with the rest paid later through an earn-out or seller note.

Middle-market private equity (PE) dealmaking in the United States didn’t lose its record momentum in the second quarter of 2021, some of which carried over into Q3, thanks to sustained economic recovery, ample debt, and plenty of available capital, according to data from Pitchbook. U.S. GDP grew at an annualized 6.5% in Q2 but slowed to 2% in Q3, mainly due to global supply chain issues. 

PE fundraising is also holding strong, with the 87 U.S. middle-market funds raised so far this year on course to set a new record. Additionally, the $68.4 billion in capital raised in 2021 is on track to be the second-highest annual total since 2010.

Most deal activities were put on hold for several months after March of 2020 and the onset of the COVID-19 pandemic, but 2021 and early 2022 may be the right time to sell. The following factors are affecting the viewpoint of sellers of privately-owned companies: 

• Some owners are now more heedful of another crisis and how it could affect their businesses. 
• Many owners no longer wish to sustain efforts and risks that come with their businesses. 
• Owners who worked remotely during the pandemic got accustomed to more flexible schedules and free time. 
• Numerous owners nearing retirement are worried about the possibility of higher corporate, personal income, capital gains, and dividend taxes. 
• Because wealth built up in private companies is not easily converted to cash, some owners have focused on the fact that after-tax proceeds from a sale will last for a long period of time.

So far this year, the largest share of PE deals has taken place in the lower to middle markets, with deals of less than $1 billion making up nearly 70% of all deals. 2021 remains on pace to easily surpass the prior annual record from 2019. At the end of the year, numbers are expected to be even more impressive as investors may hurry to close deals before the year comes to a close. 

According to the Golub Middle Market Index, U.S. middle-market companies registered 21% revenue growth in the third quarter of this year. In addition, direct lending funds account for most middle-market LBO financing and reached record fundraising levels in the second quarter. 

Add-ons increased as a share of PE deals. Middle-market firms looked to add mid-sized aggregators and sought out M&A deals to expand platforms, diversify the value chain, and embrace ESG principles. 

There was also robust exit activity in the middle market, as valuations were desirable and investor confidence was high. So far this year, the market hosted an estimated 430 exits with a combined value of $87.3 billion. Soaring valuations mean that many GPs meet their investment goals earlier than expected, driving many to cash in on investments ahead of schedule. 

Smaller, strategic exits are dwindling in the hospitality and travel sectors for expected reasons after the pandemic impacts. Middle-market sponsors are holding onto investments in these pandemic-stricken sectors. In the second quarter of 2021, there were almost zero exits of hotels, in-person dining, travel providers, or other related companies. 

Secondary buyouts are also following an upward trend. So far this year, SBOs account for nearly 62% of all middle-market exits. Buyout firms are taking advantage of limited partners’ healthy appetite for private market exposure as well as the record deal activity that enabled firms to fundraise at a very fast pace. While first-time funds and emerging managers put up positive numbers in 2021, some bigger LPs put less investment into large multi-strategy firms or shifted it to new products offered by those with whom they already had a relationship. 

Even amid all this positive activity, middle-market firms in the U.S. are still facing other challenges. While unemployment rates have improved from 2020, there is still a record number of unfilled jobs, causing major labor shortages in sectors such as manufacturing, healthcare, and hospitality. These circumstances are causing firms to focus more on deals that acquire key talent and automated technologies that help with employee management and retention. The sector of senior care has been hit particularly hard by labor shortages, which is likely to result in increased consolidation by home care platforms. Additionally, insurance brokerages, wealth management firms, and registered investment advisors (RIAs) all witnessed record M&A activity in the first half of this year. 

PE firms are also pursuing more intricate opportunities to expand lines of business, end-market exposures, and product value chains. Such game-changing add-on acquisitions can be especially effective for vertical software deals because complementary products can be woven into multi-capability platforms to create all-in-one solutions that are good for customer retention.

Deal activity is also being driven by environmental, sustainability, and governance (ESG) initiatives. ESG has moved into the forefront for businesses this year. Transactions in the renewables market represent middle-market opportunities to grow a platform into a sector leader because of the market’s highly fragmented nature. Firms in the middle market are also pursuing add-on acquisitions to better align their portfolio companies with sustainability initiatives, whether to meet changing consumer sentiment or lower capital costs by lowering carbon emissions.

Benchmark International is pleased to announce the acquisition of Northumberland-based Coastal Retreats to Norwich-based Original Cottages.

Benchmark International has been named as one of the 50 Best Workplaces of the Year 2021 by The Silicon Review. The list is handpicked from different areas and recognizes businesses that attract both talent and clientele and stand out with regards to unique and positive company culture.  

A very important part of selling your business occurs after the business has been sold. The transition period, also known as the handover period, begins when the exiting owner remains with business for a period of time to assist the new owner with taking control of the company. The transition period should be carefully planned and thought through in order to ensure that it is well executed when the time comes. It can make a great deal of sense to begin working on these details early on in the sale process.

Benchmark International won three prestigious awards at the 20th Annual M&A Advisor Awards, presented by The M&A Advisor. The winners were announced at the Gala Ceremony live event held in New York City on November 17, 2021. The awards won by Benchmark International included:

 Investment Banking Firm of the Year

M&A Deal of the Year ($100MM to $250MM)

Professional Services (B2B) Deal of the Year

These awards are known as the Oscars of the M&A world, serving as the industry benchmark for dealmaking excellence, recognizing the leading M&A transactions, restructurings, deal financings, products/services, firms, and professionals. Benchmark International took top billing over other well-known firms such as Raymond James, Goldman Sachs, and KPMG.

Gregory Jackson, CEO of Benchmark International, stated, "We are immensely proud of our team for such honorable achievements. We will continue to pursue only the highest of standards for our clients and to maintain our role as a leader in the world of mergers and acquisitions."

"These awards speak volumes about how much Benchmark International has become game-changers in the middle market. Congratulations to every member of the Benchmark International family who works tirelessly to make sure we shine every day," said Steven Keane, Chairman.

Also weighing in is Dara Shareef, Managing Partner, who said, "This fantastic news is a true testament to the vision, talent, and commitment of everyone at Benchmark International who always goes above and beyond to look out for the best interests of our clients."

Clinton Johnston, Managing Director, also expressed his pride in a statement: "We are delighted with this recognition that demonstrates how highly regarded we are in the M&A space. Our team's hard work and impressive accomplishments deserve to be celebrated."

The M&A Advisor was founded in 1998 with a focus on mergers and acquisitions, and today is the leading organization that recognizes excellence and achievement among the world's leading dealmakers.

Benchmark International is delighted to announce the acquisition of Basingstoke-based Elkay Laboratory Products to Los Angeles-based Calibre Scientific.

Elkay Laboratory Products is a premier distributor of products including liquid handling, specimen collection, storage, biobanking, test tubes, caps and vials, filtration and centrifugation, multi-well plates, and calibration services to a range of domestic and international institutions and organisations. The company’s diversified customer base spans a variety of end markets including clinical, academic, industrial and environmental applications.

Calibre Scientific is a diversified global provider of life science reagents, tools, instruments, and other consumables to the lab research, diagnostics, industrial, and biopharmaceutical communities. Calibre Scientific owns a portfolio of twenty-one life science and diagnostic companies with its global reach extending to over 175 countries. Headquartered in Los Angeles, California, the company continues to expand its product offering and global footprint to laboratories across a wide array of verticals and geographies.

With this acquisition, Calibre Scientific further enhances its overall product offering in the laboratory supplies market and adds a scalable distribution operation to the portfolio.

Benchmark International was awarded Company Sales Specialists of the Year in the National Finance & Banking Awards by the Global Advisory Experts.

UpSlide has named Benchmark International among the 50 Most Powerful M&A Firms in the World.

Benchmark International was given the Acquisition Excellence Award by the esteemed publication Acquisition International.

Reps and warranties insurance is a policy secured for corporate transactions such as mergers and acquisitions. In recent years, the amount of this type of insurance sold has increased significantly. It covers the indemnification for certain breaches of the representations and warranties in transaction agreements, either partially or in full. Reps and warranties insurance usually doesn’t cover losses for breaches of covenants (other than pre-closing tax indemnification) or purchase price adjustments. 

Benchmark International is delighted to announce the sale of Doncaster-based Swedex UK to York-based Abracs Ltd.

Established in 2003, Swedex UK is a distributor of carbide tipped circular saw blades, sold to other distributors and sawmills throughout the UK. It has an exclusive supplier agreement with Swedex AB, which was founded in 1983 in Mjölby, Sweden, and is a manufacturer of circular saw blades.

Established in 1989, Abracs Ltd are one of the UK’s leading brands of abrasives and power tool accessories. The company holds the UK’s most extensive cross section of PTA products which enables it to cater for virtually all industrial markets. The acquisition of Swedex UK and its exclusive access to Swedex AB’s products will be an excellent addition to complement Abracs' existing product portfolio.

Speaking about working with Benchmark International, ex-Shareholder and Finance Director at Swedex UK, Carol Neal, commented: “Regarding the sale of our company, Benchmark were fantastic! Andrew helped us through the process, advised and assisted us through the maze of legislation and was on hand with any queries we had. Selling our company was never going to be easy, but I dread to think how much more difficult it would have been without Benchmark at our side. Benchmark kept us informed of all potential buyers and the best one with a good offer was found within a short period of time. From the first contact, through advertising and then on to completion everything went smoothly. I would definitely recommend Benchmark to assist you in the sale of your business or company.”

Benchmark International is delighted to exclusively reveal the location of its new European office and introduce Managing Director, Martin Franz.

Benchmark International is pleased to announce the transaction between Hemel-Hempstead-based H4 Aerospace (UK) (H4A) and Shannon-based Eirtech Aviation Services (Eirtech).

H4A is a UK CAA DOA, enabling it to undertake the engineering design and certification of modifications to commercial aircrafts, which range from main cabin reconfigurations with new seats and monuments, to cockpit avionic system upgrades. With its head office and main design office based in Hemel Hempstead, the company is within easy reach of all the main airports in and around the M25 area.

Since 2009, Eirtech has been providing a range of cost-effective professional aviation services and bespoke solution packages to airlines and airline leasing companies such as tailor-made engineering services, advanced composite repair services, and asset management solutions, ensuring regulatory compliance. Headquartered in Shannon, Ireland, the company also has engineering facilities in Dublin, Belfast, Great Britain, and Singapore.

The acquisition of H4A is in line with the continued global expansion plans of Eirtech and brings to the company both CAA P21 J approval and EASA P 21 J approval capability under one roof.

Benchmark International is pleased to announce the transaction between Nortech Solutions Group (Nortech) and Nijhuis Saur Industries (NSI).

Nortech is a multidiscipline engineering, design, and project management organisation, operating across multiple sectors including upstream and downstream oil & gas, petrochemical, chemical, energy, nuclear, water, and iron & steel.

NSI delivers solid and adaptive solutions for sustainable water use, energy, and resource recovery. With its headquarters in the Netherlands, NSI operates in 130 countries globally, employing over 350 specialists in Dubai, Canada, Colombia, Chile, Germany, Poland, Russia & CIS, Saudi Arabia, Singapore, the Netherlands, the UK, and the USA.

The deal will enable NSI to expand its engineering capabilities in the UK, Europe and the rest of the world, paving the way for further investment and growth.

Menno M. Holterman, President and CEO of NSI, commented: "Nortech adds a wealth of engineering and industry knowledge to the NSI group, which will support the group’s mission to ‘Stand For Water’. Nortech also has a specialist staffing recruitment division, which will help NSI to scale up its global workforce quickly to execute major projects like some of the recently won mega projects in the biofuel and refinery upgrading market in Europe and the Middle East.

Benchmark International is delighted to announce the transaction between East Kilbride-based Sixth Sense and Watford-based MCG.

Established in 2009, Sixth Sense is a national training provider of IT and digital apprenticeships, providing SVQ accredited courses to 140 learners through a direct contract with Skills Development Scotland.

MCG is a recruitment, consultancy and project-based solutions company within aerospace & aviation, construction, education, healthcare, and technology. The company works with, supplies and employs people both in the UK and internationally.

The acquisition is the third by MCG in 12 months, as part of a five-year growth strategy.

Grant Henderson, COO of MCG, said: “The acquisition of Sixth Sense fulfils both a business and personal ambition in increasing our training capability for our internal staff, as well as externally to our valued customers.”

Benchmark International was awarded Corporate Strategy of the Year in the M&A Advisor’s M&A Awards for our proprietary Fingerprint process.

The U.S. Senate recently passed the $1.2 trillion bipartisan infrastructure bill, titled the Infrastructure Investment and Jobs Act (IIJA), to improve the country’s roads, bridges, and utilities. The bill does face an uncertain future in the House of Representatives, where its support is more limited. Still, the Democratic Party could use the reconciliation process to get the bill passed into law. 

The bill includes:

• $73 billion for electric grid and power infrastructure
• $66 billion for passenger and freight rail
• $65 billion for broadband investments
• $55 billion for water systems and infrastructure
• $50 billion for Western water storage 
• $39 billion for public transit 
• $25 billion for airports
• $21 billion for environmental remediation projects 
• $17 billion for ports and waterways
• $15 billion for electric vehicles
• $11 billion for road safety

So, what might this all mean for M&A?