2021 FMI and CFMA Ownership Transfer & Management Succession Industry Survey

In the COVID-19 pandemic, 2020 gave us a global shock capable of wiping entire business sectors off the map. Within the engineering and construction (E&C) industry, the pandemic acted as a stress test for company planning, and we were able to gauge the impact in real time.

In mid-2020, FMI partnered with the Construction Financial Management Association (CFMA) to survey construction executives on their ownership transfer and management succession (OTMS) plans. The results presented are based on almost 250 responses.

Key findings include:

• 30% said economic slowdown would affect their ownership transfer plans
  
  
• 50% reported they DO NOT have an ownership transfer plan.
  
  
• 66% identified successors won’t be ready for another three to five years.
  
  
• 27% are uncertain to whom they will sell.