Whether you’re considering selling your construction company internally or to an outside buyer, the best strategies involve planning your eventual transition several years in advance. Somewhere between three and seven years in advance is good timing, time enough to identify issues and implement solutions.

Fexillon, the Ireland-based leading provider of digital asset management solutions for infrastructure and real estate, and JE Dunn Construction, one of the largest construction companies in the U.S., have today announced a strategic partnership agreement that will see the Irish building tech company play a critical role in the build and roll out of mission-critical sites, worth over $3 billion in investment, across the U.S.

Handing over an organization’s reins to the next generation and transitioning ownership are never easy processes. For optimal results, the ownership transfer and management succession approach starts with identifying, selecting and developing key associates; ensuring that leadership roles are occupied by skilled, engaged individuals; and then cultivating them for success in their new roles.

With the COVID-19 pandemic worsening by the week, an ever-increasing share of contractors are reporting cancellations of upcoming projects and shortages of equipment or materials, forcing nearly 40 percent of firms to lay off employees, according to an online survey released April 10, by the Associated General Contractors of America.

On Tuesday, August 29 at 1 p.m. EDT, the Associated General Contractors of America will release new data showing the severity of construction worker shortages nationwide and by region and state.