ENGINEERING TECH
DASSAULT SYSTEMES | November 29, 2022
Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) (Paris:DSY) today announced the signature of a Memorandum of Understanding with Samsung Heavy Industries, a global leader in the high-tech shipbuilding sector, to create a “smart yard” based on new digital transformation technology with the aim to establish a fully digital shipyard and a competitive edge.
The smart yard is designed to optimize the shipyard operations’ scheduling and execution as well as streamline and automate the flow of information required for construction, to accelerate production and assembly operations. Samsung Heavy Industries can better meet the booming demand for liquefied natural gas carriers by improving its capacity to produce them and shortening their delivery time.
By introducing model-based systems engineering, Samsung Heavy Industries can design more sophisticated and sustainable vessels requiring more automation, new systems and propulsions, and higher safety and control. MBSE, which is already a standard product development method in the transportation and mobility, aerospace, and high-tech industries, will enable Samsung Heavy Industries to strengthen its competitiveness in the ship development process and accelerate this process thanks to full traceability from concept to production.
“Automation systems are proven to greatly affect business efficiency across all industries. A smart yard in the shipbuilding industry will also help reduce construction costs and improve the quality of ships, We plan to accelerate innovation in shipbuilding.”
-Jung Nam Lee, DT Director, Samsung Heavy Industries.
The cooperation with the Smart SHI team of Samsung Heavy Industries will allow Dassault Systèmes to organize a consultative group for digital transformation to define and validate new processes and tools required to achieve the smart yard. This will involve Dassault Systèmes’ core technologies and experts from its local office and global headquarters.
Dassault Systèmes’ 3DEXPERIENCE platform-based smart yard will support a unique digital thread integrating various data sources and real-time operations information. Connecting the virtual twins of ships and the virtual twin of the shipyard, automating and standardizing business processes with artificial intelligence, and optimizing planning and operations within the shipyard and with the supply chain will enable smart innovations for both production methods and production execution.
“It is essential for Korea’s shipbuilding to accelerate its transformation with new and advanced technologies that allow it to keep its leadership in productivity and quality for complex vessels, and we are proud to support SHI in this journey, Through our cooperation with Samsung Heavy Industries, we’re given an opportunity to introduce and implement our outstanding marine industry solution experiences, and achieve a new paradigm in the shipbuilding industry in Korea.”
-François-Xavier Dumez, Vice President, Marine & Offshore Industry, Dassault Systèmes.
ABOUT DASSAULT SYSTÈMES:
Dassault Systèmes, the 3DEXPERIENCE Company, is a catalyst for human progress. We provide business and people with collaborative 3D virtual environments to imagine sustainable innovations. By creating virtual twin experiences of the real world with our 3DEXPERIENCE platform and applications, our customers push the boundaries of innovation, learning and production to achieve a more sustainable world for patients, citizens, and consumers. Dassault Systèmes brings value to more than 300,000 customers of all sizes, in all industries, in more than 140 countries.
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CONSTRUCTION
Joseph Design Build | November 30, 2022
Thomas Joseph, cofounder of Austin-based luxury developer Joseph Design Build, announced today the firm's in-house realty group, The Joseph Group, has joined Douglas Elliman Realty, one of the largest independent residential real estate brokerages in the country.
The three-person powerhouse team first formed in 2020, and will continue to operate out of the Joseph Design Build headquarters in South Austin.
"We are pleased to welcome The Joseph Group to our firm, Their expertise in the Austin luxury market will be an invaluable asset to the brokerage, and we are looking forward to witnessing how they grow and expand their business."
-Stephen Kotler, CEO of Douglas Elliman Realty's Western Region.
Joining Douglas Elliman represents a powerful alignment, said Thomas Joseph. The Joseph Group is thrilled at the opportunity to continue to learn and grow alongside the industry's top professionals, and we are excited about the ever-evolving direction of the group, and its impact on Joseph Design Build as a whole."
The Joseph Group's parent company, Joseph Design Build, is a multi-award-winning luxury design-build firm, specializing in function-forward, expertly built modern infill homes of unrivaled craftsmanship and quality. The homes developed by Joseph Design Build will now also benefit from the same best-in-class Douglas Elliman network.
The firm has grown exponentially since its founding, and currently has an active project pipeline in key neighborhoods around Downtown Austin worth more than $160 million. Earlier this year, Joseph Design Build completed development on a three-story office project in East Austin — its first of what are sure to be many ventures in the commercial sector.
"Thomas and his team come to us with an impressive track record, along with a creative, forward-thinking mindset in the luxury space, We're pleased to welcome them to the firm."
-Catherine Lee, President of Douglas Elliman Texas.
A flourishing technology hub, Austin has been among the fastest-growing real estate markets in the United States for six consecutive years.
About Joseph Design Build:
Joseph Design Build is a turnkey design-build development firm, founded in Austin in 2014. Spearheaded by Gabe and Thomas Joseph, Joseph Design Build offers a vertically-integrated suite of luxury design-build services, including architectural and interior design, site acquisition, permitting and construction. This streamlined approach unites all relevant professions under one roof, ensuring the highest possible quality on every project.
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CONSTRUCTION
Core Roofing | November 30, 2022
Shoreline Equity Partners, LLC ("Shoreline" or the "Firm"), a purpose-driven lower middle market private equity firm, has partnered with Core Roofing Systems, LLC ("Core Roofing" or the "Company"). Headquartered in Alpharetta, GA, Core Roofing is a leading provider of commercial re-roofing, maintenance, repair, inspection, and new roofing systems across the Southeast. The Company was founded by Dusty DeVore in 2002 and has since grown to more than 180 employees with a diverse set of customers across Georgia, Florida, Alabama, Arkansas, Mississippi, North Carolina, South Carolina, and Virginia. With a 20+ year history and respected brand and reputation, Core Roofing has successfully positioned itself as one of the leading commercial roofing service providers in the Southeast.
Moving forward, and in partnership with Shoreline, Core Roofing is looking to execute on an aggressive growth plan via organic initiatives and acquisitions. The new partnership with Shoreline provides the Company with both the acquisition experience and access to capital needed to partner with other leading commercial roofing businesses across the U.S. Dusty DeVore has maintained a significant ownership position in the business and will continue to lead the Company going forward.
"Dusty and the entire team have done an outstanding job of growing Core Roofing into a clear market leader over the last 20 years. The Company has built an exceptional brand and reputation as the go-to commercial roofing service provider for its customers and suppliers. It was clear from our first conversation with Dusty that Core Roofing would be a great fit for Shoreline due to the quality of the business and its people. We are grateful to partner with Dusty and the team to continue building a leading commercial roofing platform across the Southeast and nationally."
-Mike Hand , Managing Partner at Shoreline.
Zach Mittelmark , Principal at Shoreline, said, Upon meeting with Dusty and the broader Core Roofing team, we immediately knew we had found the right platform to partner with in the commercial roofing space. Core Roofing has built an incredibly unique and difficult-to-replicate maintenance and repair service offering which allows them to provide superior customer service throughout the full lifecycle of every commercial roof. We are beyond excited to help Core Roofing embark on an ambitious add-on acquisition story with the goal of becoming one of the largest commercial re-roofing companies in the US over the years to come.
"We could not be more thrilled to partner with Shoreline. It was incredibly important that we found a partner that aligned with our values. Core Roofing was built on the strength of the relationships with our customers, suppliers, employees, and the community at large, and Shoreline shares our belief in the importance of consistently delivering for those key constituents. We are excited to accelerate our growth both organically and through acquisitions in partnership with the Shoreline team while ensuring that we maintain our high standards for work quality, customer service, and relationships for which Core Roofing is known."
-Dusty DeVore , Founder and CEO of Core Roofing.
The transaction for Shoreline was led by Mike Hand, Managing Partner; Zach Mittelmark, Principal; Mike Mancini, Senior Associate; Pete Bouret, Senior Associate; and Mike Dolak, Associate. Harvey & Company served as an advisor to Shoreline, while South State Bank provided the financing for the transaction .
About Core Roofing:
Founded in 2002 and headquartered in Alpharetta, GA, Core Roofing is a leading provider of commercial roofing solutions including re-roofing, maintenance, repair, inspection, and new roofing systems. With over 180 employees and offices in Georgia and Florida, Core serves a diversified customer base across the Southeast, including commercial and industrial property owners, property management companies, REITs, and municipalities, among others.
About Shoreline:
Shoreline is a lower middle market private equity firm focused on actively partnering with leading management teams. Shoreline follows a total stakeholder model, meaning success should be a "win-win" proposition for shareholders, employees, customers, vendors, and the communities within which the Firm's companies operate. Shoreline professionals believe in honesty, incentive alignment, and creating bigger, better businesses without relying on financial engineering or cost cutting to generate returns. Investing out of the Firm's inaugural $300 million fund, Shoreline seeks to lead equity investments of up to $100 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $25 million to $250 million and EBITDA of $3 million to $25 million. The Firm strives to partner with management teams of businesses primarily within the specialized manufacturing, value-added distribution, and business and facility services sectors, among others.
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