The heavy civil construction industry in the US focuses on large-scale infrastructure projects like roads, bridges, and public utilities. Companies in this sector include large contractors, engineering firms, and specialty service providers. As they reshape cities and improve transportation systems, these firms harness technology and sustainable practices. Significant government funding is driving expansion, as states capitalize on aging infrastructure needs. With an increased emphasis on environmental considerations and efficiency, the industry is evolving towards modernized solutions and smarter construction methods, integrating innovative materials and digital tools to tackle future challenges.


The investors highlighted in this list represent a mix of private equity firms, venture capitalists, and corporate solutions providers. Most are headquartered in urban hubs like New York and San Francisco, showcasing their proximity to major financial centers. With varying company sizes and investment philosophies, these investors made a noteworthy impact in 2024, engaging in multiple deals across the heavy civil construction spectrum. Ranging from small, agile firms to large asset managers, their collective investments demonstrate a strong commitment to advancing infrastructure development nationwide.


Top 15 Heavy Civil Construction Investors in the US


1. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a leader in asset management, providing tailored solutions to institutional investors and individual clients. The firm has a global reach and leverages its extensive expertise to navigate complex investment landscapes. KKR's involvement in the heavy civil construction sector is highlighted by several key transactions, including the acquisition of GeoStabilization International, a provider of geotechnical maintenance services, and the acquisition of the John Laing Group, which is known for its infrastructure projects. Furthermore, KKR's affiliate entity's acquisition of the Bangalore Elevated Tollway and the Swarna Tollway demonstrates its commitment to investing in critical infrastructure assets. These transactions underscore KKR's active role in the heavy civil construction industry, making it a significant player in this sector.


2. Advantage Capital


Advantage Capital is a venture capital firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses, with a focus on supporting entrepreneurs in underserved communities. Their investment strategy includes flexible capital solutions aimed at helping businesses grow and thrive. Notably, Advantage Capital has been involved in several transactions relevant to the heavy civil construction industry, such as their debt financing for Civil Design in 2012, which is directly related to civil engineering services. Additionally, they provided debt financing to Leading Edge Scaffold in 2020, a company that supplies scaffolding services, which are essential in heavy civil construction projects. Other transactions, such as those with Keeley Companies and Historic Restoration, further demonstrate their engagement in sectors that intersect with heavy civil construction, although these may not be exclusively focused on that area.


3. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, focused on fostering private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to promote economic growth. IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Notably, IFC has been involved in significant transactions relevant to heavy civil construction, such as a $350 million debt financing for Ronesans Holding, which is engaged in infrastructure projects. Additionally, IFC's investment in Mep Infrastructure Developers, which raised over $65 million in post-IPO equity, further underscores its commitment to supporting infrastructure development. These transactions highlight IFC's role in facilitating investments that contribute to the heavy civil construction sector.


4. Quanta Services, Inc.

  • Website: quantaservices.com
  • Type: Corporate
  • Headquarters: Houston, Texas, United States (USA)
  • Founded year: 1997
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: quanta-services

Quanta Services, Inc. is a Houston-based corporate investor specializing in infrastructure services, particularly in the electric power, pipeline, industrial, and communications sectors. Founded in 1997, the company has grown to employ over 10,000 people and has made significant investments in various infrastructure projects. Notably, Quanta has acquired several companies that enhance its capabilities in heavy civil construction. For instance, the acquisition of Nova Group, a general engineering contracting company, allows Quanta to expand its operations in the heavy civil construction sector. Additionally, their acquisition of Crux Subsurface, a specialty geotechnical drilling contractor, further solidifies their involvement in construction-related services. These strategic acquisitions demonstrate Quanta's commitment to providing comprehensive infrastructure solutions, making them a key player in the heavy civil construction industry.


5. Bowman Consulting

  • Website: bowman.com
  • Type: Corporate
  • Headquarters: Reston, Virginia, United States (USA)
  • Founded year: 1995
  • Headcount: 1001-5000
  • Number of deals in 2024: 8
  • LinkedIn: bowman-consulting

Bowman Consulting Group Ltd. is an engineering and consulting firm based in Reston, Virginia, specializing in a wide range of services including civil/site engineering, transportation engineering, and environmental consulting. Founded in 1995, the firm has grown significantly, with a workforce of 1001-5000 employees and a strong focus on infrastructure projects. In recent years, Bowman has actively expanded its portfolio through strategic acquisitions of firms that enhance its civil engineering capabilities. Notable transactions include the acquisition of Perry Engineering LLC, a civil engineering consulting firm, and McMahon Associates, Inc., which is expected to contribute significantly to their annual service billing. Other relevant acquisitions include BTM Engineering and Project Design Consultants, both of which specialize in civil engineering and related services. These transactions underscore Bowman's commitment to providing comprehensive engineering solutions that support heavy civil construction projects.


6. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a prominent investment management firm based in New York, specializing in alternative investments. Founded in 1985, the firm offers a diverse range of services, including private equity, real estate, and credit solutions to both institutional and individual investors. Blackstone is known for its strategic approach to building strong businesses and delivering lasting value through its extensive portfolio. Among its notable transactions in the heavy civil construction context, Blackstone invested $150 million in Nagarjuna Construction Company Limited, enabling the company to expand its capital base for public-private infrastructure projects. Additionally, Blackstone's acquisition of KP1, a leader in precast concrete products, highlights its engagement in the construction sector. Furthermore, the acquisition of Geosyntec Consultants for $380 million reflects Blackstone's belief in the growing demand for engineering services, which often intersects with heavy civil construction projects. These investments illustrate Blackstone's active role in the heavy civil construction industry, alongside its broader investment strategies.


7. Nv5

  • Website: nv5.com
  • Type: Corporate
  • Headquarters: Hollywood, Florida, United States (USA)
  • Founded year: 1947
  • Headcount: 1001-5000
  • Number of deals in 2024: 10
  • LinkedIn: nv5

NV5 is a consulting and engineering company based in Hollywood, Florida, founded in 1947. The firm provides technology, conformity assessment, and consulting solutions for infrastructure, utility, and building systems, serving both public and private sector clients. In 2024, NV5 has made significant strides in the heavy civil construction sector by acquiring companies that enhance their engineering capabilities. Notably, they acquired CHW Professional Consultants, a full-service civil consulting company, to expand their platform in Florida. Additionally, their acquisition of TerraTech Engineers, Inc., a geotechnical engineering and environmental consulting firm, and GeoDesign, Inc., further solidifies their expertise in the civil engineering domain. These strategic acquisitions demonstrate NV5's commitment to improving efficiency and resilience in heavy civil construction projects, making them a relevant player in this industry.


8. Autodesk

  • Website: autodesk.com
  • Type: Corporate
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 1982
  • Headcount: 10001+
  • Number of deals in 2024: 12
  • LinkedIn: autodesk

Autodesk, Inc. is a corporate investor based in San Francisco, California, founded in 1982. The company specializes in providing a wide range of design and engineering software solutions for various industries, including architecture, engineering, construction, and manufacturing. Autodesk's products, such as AutoCAD and Revit, are widely used to enhance productivity and creativity in design processes. In recent years, Autodesk has made significant investments in companies that are relevant to the construction industry. For instance, they led a $7 million Series A funding round for Smartvid.io, a startup focused on improving safety on construction sites through advanced photo and video management software. Additionally, Autodesk participated in a $55 million Series B funding round for Factory_OS, a company that integrates digital technologies to streamline the construction of multifamily housing, making the process safer, more sustainable, and efficient. These investments highlight Autodesk's commitment to advancing the construction industry through innovative technology solutions.


9. EMCOR Group, Inc.

  • Website: emcorgroup.com
  • Type: Corporate
  • Headquarters: Norwalk, Connecticut, United States (USA)
  • Founded year: 1994
  • Headcount: 10001+
  • LinkedIn: emcor-group-inc

EMCOR Group, Inc. is a leading construction services company based in Norwalk, Connecticut, specializing in mechanical and electrical construction, industrial services, and energy infrastructure. Founded in 1994, the company operates through a network of over 100 subsidiaries across the United States, serving a diverse clientele that includes businesses and government entities. EMCOR has made several strategic acquisitions to enhance its capabilities in the construction sector. Notably, the acquisition of Harry Pepper & Associates, Inc. in 2010 expanded its reach into government infrastructure projects, which are critical components of heavy civil construction. Additionally, the acquisition of Southern Industrial Constructors Inc. in 2012 further solidified its position in industrial services, which often overlaps with heavy civil construction projects. More recently, the acquisition of Miller Electric Company in 2025 is expected to significantly boost EMCOR's construction services platform, generating substantial revenue and reinforcing its market presence. These transactions highlight EMCOR's commitment to expanding its footprint in the construction industry, including heavy civil construction.


10. Brick & Mortar Ventures

  • Website: brickmortar.vc
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 8
  • LinkedIn: brickmortarvc

Brick & Mortar Ventures is a venture capital firm based in San Francisco, California, founded in 2015. The firm specializes in investing in emerging companies within the architecture, engineering, and construction sectors, providing both financial support and consulting services to startups that are developing innovative technologies aimed at improving efficiency and productivity in these industries. Notable transactions include a $9.4 million Series A investment in Rugged Robotics, which focuses on deploying robotics in construction, and a $6 million Series A investment in RodRadar, a construction tech startup that aims to enhance project management through technology. These investments highlight Brick & Mortar Ventures' commitment to fostering innovation and modernizing the built environment, particularly in the heavy civil construction context.


11. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, established in 1998. It offers a comprehensive range of services, including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In recent years, Goldman Sachs has engaged in several notable transactions relevant to the heavy civil construction sector. For instance, they facilitated a significant funding round for JSW Infrastructure, raising approximately $151.6 million in September 2023, which underscores their involvement in infrastructure development. Additionally, their investments in Afcons and Sterling And Wilson, both of which are key players in the construction industry, highlight their strategic interest in heavy civil construction projects. These transactions reflect Goldman Sachs' capability and willingness to invest in the infrastructure space, making them a relevant player in this sector.


12. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm based in New York, specializing in alternative assets and retirement solutions. Founded in 1990, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. In recent years, Apollo has made significant investments in the heavy civil construction sector, including the acquisition of AmQuip Crane and Maxim Crane Works, which together aim to create a leading lifting solutions provider with a fleet of over 1,950 cranes across North America. Additionally, their acquisition of The State Group, a provider of multi-trade services, highlights their commitment to supporting energy transition efforts and infrastructure development. These transactions demonstrate Apollo's strategic focus on sectors that are integral to heavy civil construction, reinforcing their role as a relevant investor in this industry.


13. Hexagon Asset Lifecycle Intelligence


Hexagon Asset Lifecycle Intelligence, a division of Hexagon AB, is a corporate investor based in Madison, Alabama, specializing in industrial technology and software solutions. Founded in 1992, Hexagon operates globally, focusing on transforming data into actionable insights for various sectors, including government and industrial firms. In recent years, Hexagon has made significant strides in the heavy civil construction sector through strategic acquisitions. Notably, in March 2018, Hexagon acquired AGTEK, a US-based software company that specializes in planning and productivity solutions specifically for the civil construction industry. This acquisition highlights Hexagon's commitment to enhancing operational efficiency in heavy civil construction projects. Additionally, in January 2023, Hexagon acquired Projectmates, a SaaS-based construction project management software provider, further solidifying its position in the construction technology market. These transactions reflect Hexagon's focus on integrating advanced technology solutions into the heavy civil construction sector, making it a key player in this industry.


14. Construction Partners


Construction Partners, Inc. is a corporate investor based in Dothan, Alabama, specializing in civil infrastructure projects such as road construction, paving, and site development. Founded in 2001, the company operates multiple hot-mix asphalt plants and aggregate facilities to support its construction activities. In recent years, Construction Partners has made several strategic acquisitions to bolster its operations in the heavy civil construction sector. Notable transactions include the acquisition of Overland Corporation, an asphalt manufacturing and paving company, and King Asphalt, Inc., both of which enhance their operational footprint. Additionally, the acquisition of Hubbard Paving & Grading and Pickens Construction further strengthens their service capabilities in the South Carolina region. These transactions reflect Construction Partners' commitment to expanding its presence in the heavy civil construction market, serving a diverse clientele that includes government agencies and private sector businesses.


15. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services, including wealth management, investment banking, and capital markets, catering to individuals, families, corporations, and governments. With a global presence, Morgan Stanley leverages its expertise to provide tailored financial solutions. In recent years, Morgan Stanley has made notable investments in the heavy civil construction sector, including the acquisition of KSH Infra, a Pune-based company, for approximately ₹350 crore, aimed at expanding its presence in the logistics sector, which is closely tied to construction activities. Additionally, their investment in JSW Infrastructure, which raised over $151 million in 2023, further highlights their commitment to infrastructure development. These transactions reflect Morgan Stanley's strategic interest in the heavy civil construction industry, alongside their broader investment portfolio.



Heavy Civil Construction Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
KkrNew York, New York, United States (USA)1001-5000197674
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
Quanta Services, Inc.Houston, Texas, United States (USA)10001+19975
Bowman ConsultingReston, Virginia, United States (USA)1001-500019958
BlackstoneNew York, New York, United States (USA)1001-5000198557
Nv5Hollywood, Florida, United States (USA)1001-5000194710
AutodeskSan Francisco, California, United States (USA)10001+198212
EMCOR Group, Inc.Norwalk, Connecticut, United States (USA)10001+19940
Brick & Mortar VenturesSan Francisco, California, United States (USA)1-1020158
Goldman SachsNew York, New York, United States (USA)10001+199859
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
Hexagon Asset Lifecycle IntelligenceMadison, Alabama, United States (USA)10001+19929
Construction PartnersDothan, Alabama, United States (USA)1001-500020018
Morgan StanleyNew York, New York, United States (USA)10001+198679


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