EUR 95B
Sector output 2024
Capittal
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Sectors / Construction
Construction. Buyers, multiples and sector-specific value drivers.
Construction companies, engineering, installations, materials and services linked to the real-estate cycle.
Sector focus
We do not apply a generic template. We adapt the narrative, buyer selection and price defence to the real logic of the sector.
+4.5%
Annual growth
5-8x
EBITDA multiple
1,3M
Sector employees
Market
Context before discussing multiples.
Construction combines EU funds, rehabilitation, civil works, installations and technical specialities. Backlog quality and risk management are decisive.
Rehabilitation and energy efficiency remain supported by EU funds.
Labour scarcity favours companies with stable teams.
Technical specialities earn premiums through knowledge barriers.
Guarantees, litigation and margin by project condition price.
Drivers
What we review before speaking with buyers.
Contracted backlog
We read this driver with financial, operational and market data before approaching buyers.
Project risk
We read this driver with financial, operational and market data before approaching buyers.
Working capital
We read this driver with financial, operational and market data before approaching buyers.
Guarantees
We read this driver with financial, operational and market data before approaching buyers.
Specialisation
Subsegments where the value reading truly changes.
Civil works
Construction companies with public backlog, machinery and execution capacity.
- Backlog
- Tenders
- Guarantees
Rehabilitation
Integral refurbishments, energy efficiency and existing buildings.
- EU funds
- Team
- Recurrence
Installations
Electrical, HVAC, plumbing, MEP and maintenance.
- Certifications
- Contracts
- Technicians
Industrial construction
Flooring, structures, warehouses and turnkey projects.
- Specialisation
- B2B clients
- Margin
Sector method
What changes in a construction mandate.
01
Backlog analysis
Contracted work, pipeline, margin by project, deviations, concentration and pending guarantees.
02
Operational review
Machinery, subcontracting, key staff, certifications, health and safety and cost control.
03
Contractual risk
Litigation, retentions, bonds, post-construction liability and collection structure.
FAQ
Frequently asked questions for this sector.
How is a construction company valued?
Through normalised EBITDA and backlog quality, adjusted for real project margin, pending risks, machinery, debt and working capital.
What does a buyer review in construction?
Live contracts, margin deviations, guarantees, litigation, key staff, subcontractor dependence and backlog quality.
Who buys construction companies?
Construction groups, installation companies, regional competitors and funds looking for specialised platforms.