Capstone Headwaters Reports: Construction Services Industry Shows Signs of Recovery

October 26, 2020

Boston, MA – Capstone Headwaters released its Construction Services Industry update today, reporting that COVID-19 induced headwinds through Q2 2020 manifested in project delays and cancellations, supply chain challenges, and workforce capacity restrictions, contributing to substantial declines in construction spending.  However, industry demand has rebounded in recent months, with construction notching three consecutive months of gains, rising 1.4% in August, according to the U.S. Census Bureau.

“The worst is behind us and we believe there is a significant opportunity for growth across most end-markets for the next several years,” said Managing Director Darin Good.

Merger and acquisition (M&A) activity in year-to-date (YTD) 2020 has trailed the prior year by 29%, largely due to the significant decline in Q2 transaction volume. However, consolidation has begun to show signs of accelerating, with Q3 recording the highest quarterly deal count of the year with 97 transactions.

To access the full Construction Services report, click here

Capstone Headwaters is one of the largest and most active independent investment banking firms in the United States.  The firm has a rich 15+ year history of achieving extraordinary results for middle market entrepreneurs, business owners, investors, and creditors.  Capstone offers a fully integrated suite of corporate finance services, including merger & acquisition, debt & equity placement, corporate restructuring, valuation & fairness opinion, financial advisory, and ESOP advisory services.  Headquartered in Boston, the firm has 150+ professionals across 16 offices in the U.S., with and an international presence including over 450 professionals in 40 countries. With 16 dedicated industry groups, the firm delivers sector-specific expertise through large, cross-functional teams on a global basis.  Capstone has been named “U.S. Middle Market Investment Bank of the Year” for the past 9 consecutive years and is consistently recognized as one of the top investment banking firms to work for. For more information, visit

For More Information Contact the Key Report Contributors:

Darin Good
Managing Director

Crista Gilmore

Brian Krehbiel