Armstrong Steel | November 28, 2022
The demand for pre-engineered steel buildings is exploding, according to Armstrong Steel. Because of the many benefits that these pre-engineered buildings provide, new industries are turning toward this type of construction for their structure needs.
The recently released 2022 Pre-Engineered Buildings Global Market Report showed that the global steel market is expected to be worth $26.87 billion by 2026, which would represent a CAGR, or compound annual growth rate, of 11.98%.
Pre-engineered buildings have structural columns, rafters, girts, purlins and sheeting which are engineered and manufactured specific to each building purchased and then assembled on site per the erection drawings and all the parts are numbered to correspond with the drawings.
While pre-engineered steel buildings such as the ones manufactured by Armstrong Steel Buildings have been used extensively for workshops, storage, community halls, factories, airport hangars, strip malls and much, much more, they are also in high demand today for office buildings.
Pre-engineered steel buildings provide many benefits, including their flexibility in usage, the speed at which they are constructed, and their overall cost. It's only natural, then, that more and more industries are turning toward this type of structure for their building needs.
The increased demand for pre-engineered steel buildings in the office space market is a significant contributor to the market's expected growth as a whole. In many developing countries experiencing economic growth and rapid urbanization, these pre-engineered steel buildings are preferred because they are cost-effective and can be erected faster than traditional buildings.
The report also states that pre-engineered steel buildings make up anywhere from 75% to 80% of all new corporate and commercial construction. It's no surprise, then, that the industry is expected to experience explosive growth in 2023 and beyond.
One of the biggest trends in the steel building industry, according to Armstrong Steel Buildings, is the adoption of green building practices to positively impact climate change. Steel production has traditionally consumed a significant amount of energy and created a lot of emissions.
New technological advances are allowing steel manufacturing companies to not only reduce their energy consumption but also reduce their emissions at the same time.
Pre-engineered steel buildings are very eco-friendly, too. Armstrong Steel notes that steel itself is 100% recyclable and can be used multiple times over without compromising the integrity of the material. This is yet another reason why pre-engineered steel buildings are a smart investment for any company, organization, or individual who needs a new structure.
About Armstrong Steel
As a leading manufacturer of pre-engineered metal buildings, Armstrong Steel Buildings takes pride in delivering high-quality steel buildings across North America. Armstrong Steel Buildings has been delivering high-quality steel buildings for nearly twenty years and provides structures to residential, commercial, agricultural, industrial, cannabis, government, and military agencies.
CRH | November 25, 2022
Oldcastle APG, a CRH company, has acquired the packaging operations of Sterling Sand and the soil business of Soil Mender Products. The acquisitions of its co-packing partners enable Oldcastle APG to extend its geographic position and production capabilities in high-demand, high-growth markets to best serve its customers.
With operations in South Carolina and North Carolina, Sterling Sand is a leading regional manufacturer and distributor of specialty sands for industrial, construction, recreation and other end-market uses. An established co-packer for Oldcastle APG's Techniseal business, Sterling Sand is a key partner in the bagging and distribution of its polymeric sand products for customers in the Southeast US. The acquisition of Sterling Sand's packaging operations will enable Techniseal to achieve increased production capacity and market share growth potential in southeastern markets.
Soil Mender Products is a leading regional manufacturer of lawn and garden solutions that promote soil health, biodiversity and outdoor aesthetics while supporting a thriving ecosystem. Located in northwestern Texas, it operates as a co-packer for Oldcastle APG's large retail customers in the Texas market. Soil Mender's advantageous geographic position, coupled with its exceptional product offerings and industry knowledge, effectively strengthen Oldcastle APG's Lawn & Garden business in the region.
"As North America's leading provider of integrated and sustainable outdoor living solutions, we are excited to welcome Sterling Sand and Soil Mender Products to the APG Family as we enhance our Techniseal and Lawn & Garden manufacturing capabilities, With increased production and growth in the Carolinas, Texas and surrounding markets, we can continue to provide end-to-end outdoor living solutions to customers across the country."
-Tim Ortman, President, Oldcastle APG.
About Oldcastle APG:
Oldcastle APG, a CRH Company, is an international provider of outdoor living and building materials, with industry-leading positions in hardscapes, concrete masonry, fencing and railing, bagged dry mixes, lawn and garden, pool finishes and composite decking. Oldcastle APG's signature brand portfolio includes Belgard, Echelon, Barrette Outdoor Living, Sakrete, Pebble Technology International and MoistureShield.
CRH is the leading building materials business in the world, employing c.73,000 people at c.3,200 operating locations in 29 countries. It is the largest building materials business in North America and in Europe and also has regional positions in Asia. CRH manufactures and supplies a range of integrated building materials, products and innovative end-to-end solutions which can be found throughout the built environment in a wide range of construction projects from major public infrastructure to homes and commercial buildings. A Fortune 500 company, CRH is a constituent member of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe. CRH is ranked among sector leaders by Environmental, Social and Governance (ESG) rating agencies.
West Coast Construction | November 28, 2022
United Capital Source helped secure one merchant cash advance totaling $9 million for a west coast construction company. The 32-year-old company will use the funds for a government contract it was awarded for the renovation of two city schools.
After receiving the award for the construction contract, the company came to UCS looking for a subordinated line to its current lender. UCS, an online marketplace, worked quickly with the company’s lender and the funder’s legal teams on the language needed in the subordination agreement. The total time to fund the advance was four and a half days.
UCS helped to structure the exact deal required within the timeframe necessary so the company could take advantage of the opportunity they had despite this being unconventional funding. The construction company received an immediate cash advance of $6 million, with another $3 million becoming available in twenty days when the second part of their project starts. The merchant cash advance structure is an estimated 12-month deal that includes aggressive prepayment options from three to six months.
“This is another example of how our marketplace works. We have partnered with best-in-class lenders and funders who can operate quickly and efficiently across multiple products offering the best rates and terms available. Danielle handled most of the deal, and she worked for 4 days straight assisting the legal teams and working back and forth between all parties getting the deal to the finish line in time for the clients.”
-Jared Weitz UCS.
The structure of the loan is intended to serve as bridge financing, and that’s exactly how the construction company will use it. UCS VP of Sales Danielle Rivelli handled the deal from start to finish.
Danielle’s dedicated service and unique financing structure highlighted UCS’s ability to find business financing options that work for their clients. The construction company acquired the funds to take advantage of the government contract opportunity.
United Capital Source, Inc:
Is a lending marketplace geared towards driving small business growth. .