managed and operated by IT person-
nel as these systems become more
data-driven. Organizations/compa-
nies desiring to truly separate them-
selves from the competition are
pushing for greater levels of technol-
ogy and often hiring the profession-
als that plan/design such systems
independent from traditional MEP
engineers.” Talented practitioners skilled in
the design, integration and ongoing
technical services of the technolo-
gies embedded in today’s facilities
are in high demand. The ability to
find, retain and train an optimal tal-
ent base is hampered by the special-
ized skill sets spread among these
disparate providers. In addition to
having a fragmented talent pool, the
competition for talented engineers is
intense as the technology giants
continue to grow. Engineering talent
with three to seven years of experi-
ence is more valuable than ever, and
acquiring such talent is a critical ob-
stacle in building the best facility
technology teams.
The acceleration of growth
in technology spend
Technology is expanding as a
component of overall building invest-
ment. This trend offers providers
value through revenue diversification
from the more traditional design
segments and can offer improved
margins for those increasingly com-
moditized firms.
A recent energy efficiency survey
by Johnson Controls clearly identifies
the expected growth in technology-
enabled facility systems and integra-
tion (Exhibit 1). Sixty-eight percent of
respondents plan to invest in building
controls over the next 12 months, up
from only 38 percent of respondents
two years ago, exceeding Johnson
Control’s expectations. Survey results
show that six of the eight top mea-
sures that organizations plan to imple-
ment in the next 12 months relate to
connected technological building sys-
tems requiring specialized design and
integration. This trend highlights the
significant growth opportunities avail-
able to engineering firms in the tech-
nology market.
This article was originally pub-
lished in the FMI Quarterly. FMI
Corp. is a Raleigh-based manage-
ment consultancy and investment
banker dedicated exclusively to engi-
neering and construction, infrastruc-
ture and the built environment.
Authors are Russell Clark
(rclarke@fminet.com), responsible
for executing merger and acquisition
advisory and capital formation en-
gagements and Greg Powell gpow-
ell@fminet.com), a managing
director with FMI Capital Advisors,
Inc., FMI Corporation’s investment
banking subsidiary.
Russell Clark
Greg Powell
The North Carolina Construction News — Winter 2018 — 7