Michael Richter is a managing director and co-head of the Business Services and Industrials Team at GLC Advisors. Richter has dedicated his career to advising business owners across a wide range of industries on mergers, acquisitions, debt and equity financings and strategic advisory assignments. His passion for assisting entrepreneurs has led to the highest standard for providing hands-on, senior level advice, which has resulted in the ability to consistently achieve outlier results.
Many U.S. businesses across a variety of sectors have experienced new challenges over the last year — this is particularly true for those in the mechanical, engineering, and plumbing (MEP) industries. In early 2022, the MEP sector saw labor shortages and supply chain disruptions lead to increased labor and material costs, while later in the year and early into 2023, businesses are experiencing slowing demand for building and renovation. Unsurprisingly, this dynamic has culminated in constantly fluctuating profit margins for many MEP business owners.
