ENGINEERING TECH, CONSTRUCTION
Businesswire | June 06, 2023
Bowman Consulting Group Ltd., today announced the acquisition of MTX Surveying, Inc. a geospatial, land survey and project management company based in Marshall, Texas. Founded by Shane Nafe and Austin Holland in 2016, the firm has grown rapidly to a workforce of over 60 accredited professionals, technicians, and support staff serving clients in Texas, Louisiana, and New Mexico. Today, MTX provides full-service consulting, project management, surveying, mapping, and permitting services for clients working in oil and gas, energy and renewables, utility services, and land development. The MTX staff will all become Bowman employees in connection with the acquisition.
“Shane and Austin have built an exciting company,” said Gary Bowman, CEO of Bowman. “Their focus on oil and gas, energy, and renewables projects will help to accelerate our goal of increasing the contribution of power and utility-oriented assignments within our revenue mix. Their experience with aerial mapping, data capture, hi-res orthometric imagery, and drone surveying complements other recent acquisitions and investments we have made in geospatial technologies and services.”
“We’re pleased to be joining Bowman and are excited about the opportunities this acquisition provides,” said Shane Nafe, President and Founding Partner of MTX Surveying. “Bowman has an expansive national platform of clients, assignments, and engineering professionals to which we can contribute immediately. We’re ready to get started adding value and growing our collective energy services and geospatial practice.”
Financed with a combination of cash, seller notes, and equity, the acquisition falls within previously discussed target multiple and operating metric ranges and is expected to be immediately accretive. The Company anticipates the acquisition will initially contribute approximately $9 million of annualized net service billing. More detailed information on M&A activities, pipeline, and guidance updates are provided in connection with scheduled quarterly and annual communications.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering infrastructure solutions to customers who own, develop, and maintain the built environment. With over 1,700 employees and more than 75 offices throughout the United States, Bowman provides a variety of planning, engineering, geospatial, construction management, commissioning, environmental consulting, land procurement and other technical services to customers operating in a diverse set of regulated end markets. Bowman trades on the Nasdaq under the symbol BWMN. For more information, visit bowman.com or investors.bowman.com.
About MTX Surveying, Inc.
MTX Surveying is a result driven geospatial, survey and aerial mapping firm serving Texas, New Mexico, Louisiana, and other states across the United States. The company’s management team is experienced in the successful execution of projects across a wide range of industries including oil and gas, energy services, land development, municipal planning, and telecommunications. MTX has grown from two founding partners in 2016 to a team of multi-licensed professionals and experienced technicians. For more information on MTX Surveying, their projects, and services, visit https://www.mtxsurveying.com.
ENGINEERING TECH, CONSTRUCTION
PR Newswire | June 02, 2023
OpenSpace, the global leader in 360°realitycapture and AI-powered analytics, announced today a new strategic relationship to promote greater transparency and coordination in the construction industry with Revizto, the industry-leading Integrated Collaboration Platform that streamlines and centralizes project workflows and communication. Both companies are dedicated to unlocking the potential of BIM on construction sites and improving the exchange of information between VDC (Virtual Design and Construction) and field teams.
While BIM has gained widespread adoption among design and engineering professionals, its utilization in the field has been limited. According to the report "Accelerating Digital Transformation Through BIM" by Dodge Construction Network (2021), contractors using BIM have witnessed significant improvements in quality, health and safety, cost control, schedule control, and overall business results. However, only 44% of general contractors, 35% of specialty trade contractors, and 33% of owners have integrated BIM into their practices, indicating a gap between office and field teams. On the other hand, reality capture technology is becoming widely embraced on construction sites.
To bridge this gap, OpenSpace has made substantial investments in its reality capture platform and BIM capabilities. The technology aims to simplify BIM visualization and make it actionable in the field, strengthening coordination between office and field teams. The company has already observed a 27% increase in users that utilize BIM, indicating a strong interest in combining BIM and reality capture in the field.
Revizto is collaborating with OpenSpace to deliver integrated workflows to their mutual customers. "Through our collaboration with Revizto, we can prioritize the interests of both VDC and field teams," said OpenSpace CEO Jeevan Kalanithi. "By streamlining workflows, we can enhance coordination, save valuable time on a daily basis, accelerate project completion, and enable VDC managers and field teams to be more efficient so they can focus on what they do best."
“We are excited to work alongside partners that share the vision to empower the teams on-site. With Revizto, our customers can use solutions like OpenSpace to help field teams effortlessly capture current site conditions, compare it to BIM models, and explore their sites,” said Arman Gukasyan, Founder and CEO of Revizto. “When combined with our platform, the power to break down data silos and facilitate seamless collaboration among project teams anytime, anywhere, will be easier than ever.”
Further details on the Revizto and OpenSpace collaboration will be unveiled at Waypoint, OpenSpace's virtual customer summit, on June 8, 2023. The event will feature sessions with customers, industry leaders, and innovators sharing insights, best practices, and exciting product announcements under the theme of "Simple & Fast Coordination: Connecting Field & VDC through Reality Capture." For more information and registration, please visit our event page.
OpenSpace , the global leader in reality capture and AI-powered analytics, empowers construction and real estate companies of every size to create an interactive 360° digital view of their built environment. Customers have used OpenSpace to operate more efficiently and reduce risk, capturing more than 17 billion square feet of imagery from construction projects across thousands of sites in more than 93 countries.
Revizto is the leading Integrated Collaboration Platform used by professionals from across the Architecture, Engineering, Construction, and Operation/Owners (AECO) industry to streamline workflows and communication with all stakeholders in a unified environment throughout the project lifecycle. The Revizto platform is intuitive, adaptable, and fully functional from any device.
ENGINEERING TECH, CONSTRUCTION
PR Newswire | June 01, 2023
Aurigo Software, the leading provider of capital planning and construction management software for infrastructure and private owners, is partnering with the University of Florida's Department of Mechanical and Aerospace Engineering to develop a revolutionary system for underwater surveying, mapping, and inspection, provisionally named Bathydrone.
The current process to gather data for new underwater construction or the inspection of existing assets such as bridges, docks, and levees consists of manual surveying from divers or survey sensors mounted to a boat. With the new, safer, and more efficient Bathydrone system, a drone drags a small vessel on the water's surface, eliminating the need for manual surveying. The vessel is equipped with a COTS sonar unit mounted on its bottom. The sonar unit has down-scan, side-scan, and chirp capabilities and logs data onboard the console, which is located inside the hull. Data can then be retrieved post-mission from the console and plotted in various ways.
"We are excited to be working on this groundbreaking technology with the team at the University of Florida," said Balaji Sreenivasan, CEO and founder of Aurigo Software. "The Bathydrone system will vastly expand the possibilities for underwater endeavors while providing a cheaper, safer, and more eco-friendly alternative for our customers."
Not only is data collected more easily, but the technology can also be operated remotely and autonomously using AI navigation software to overcome obstacles in or under the water, creating a faster and cheaper solution. The system will also integrate with Aurigo's Masterworks Cloud Platform to properly store and categorize project data and route any inspections or other results for approval or further action.
Additional Bathydrone differentiators include:
Fully battery-operated and better for the environment—no fuel or loud noise
Lightweight and easily transportable
Does not require a dock or boat ramp to get in the water
Able to be deployed in a wide variety of water systems, including shallow water and rivers with strong currents
Able to survey a large area on a single charge
"This project supports our department's mission to conduct state-of-the-art research to advance science and technology," said Peter Ijfu, University of Florida's Mechanical and Aerospace Engineering Excellence Term Professor and Associate Chair of Faculty Affairs. "This pioneering approach to underwater surveying and mapping has multiple real-world applications that are not currently commercially available."
Aurigo will work closely with the Department of Mechanical and Aerospace Engineering's staff and students to bring this leading-edge solution to the infrastructure market in the next 12 to 18 months.
About Aurigo Software
Aurigo builds software that helps build the world. Aurigo provides modern, cloud-based solutions for capital infrastructure and private owners to help them plan with confidence, build with quality, and maintain their assets efficiently. With more than $300b of capital programs under management, Aurigo's solutions are trusted by over 300 customers in transportation, water and utilities, healthcare, higher education, and the government on over 40,000 projects across North America. Aurigo helps capital program executives make better decisions based on proprietary artificial intelligence and machine learning technology. Aurigo is a privately held US corporation headquartered in Austin, Texas, with global offices in Canada and India. Learn more at www.aurigo.com.
About the University of Florida
The University of Florida is a major, public, comprehensive, land-grant, research university. The state's oldest and most comprehensive university, UF is among the nation's most academically diverse public universities. UF traces its beginnings to a small seminary in 1853. It opened its doors in Gainesville in 1906 with 102 students. Today, it is one of the most comprehensive and academically diverse universities in the nation, with an enrollment of some 52,000 students annually. UF is home to 16 colleges and more than 170 research centers and institutes and UF offers nearly 300 graduate degree programs. Only five other universities nationwide have as many programs of study on one campus as the University of Florida.