Capturing Capital

by Paul J. Zofnass, Pres.; The Environmental Financil Consulting Group, Inc., New York, NY,


Serial Information: Civil Engineering—ASCE, 1992, Vol. 62, Issue 5, Pg. 67-69


Document Type: Feature article

Abstract: Over the past few years, the environmental engineering and consulting business has become capital intensive. Between 1991 and 1993, firms' incremental capital needs will total about $4.5 billion. Factors driving the industry's need for capital include increase in accounts receivable caused by high growth rates, investments in computerization and automation, market consolidation and acquisitions of other firms, and the need to provide equity to retiring partners. To get the capital they need, firms may have to seek external sources. Basically, there are four alternatives, which the article describes: (1) commercial and other debt instruments, (2) public equity markets, (3) strategic alliances, and (4) private institutional capital.

Subject Headings: Consultants | Environmental engineering | Assets | Financing

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