2021 construction output suspected to be 6.4% lower than pre-Covid growth rates

PBC Today | August 05, 2020

Despite the government putting industry at the centre of its recovery plans, the full impact of Covid-19 is expected to spell uncertainty for the construction industry. According to the Construction Products Association’s (CPA) latest forecasting, changes to the UK economy brought on by the Covid-19 pandemic, and uncertainty around consumer confidence and unemployment rates, could prove significant to construction industry activity returning to pre-Covid growth rates. Although activity on-site returned quicker than initially expected post-lockdown, the CPA Summer Scenarios still anticipates construction output in 2020 to fall by 20.6%. The worst affected sectors include private housing (-33%) and commercial (-29%). The report suggests that returns to construction sites from mid-May were largely to drive completions on existing projects and refurbishments that couldn’t take place during the restrictions. However, uncertainty remains around long-term demand and future orders given the state of the wider economy.

Spotlight

Engineers are using their expertise to help the people of earthquake-hit Nepal. They are currently concentrating on providing shelter and sanitation after two earthquakes with magnitudes of 7.8 and 7.3 devastated the country on April 25 and May 12 respectively.

Spotlight

Engineers are using their expertise to help the people of earthquake-hit Nepal. They are currently concentrating on providing shelter and sanitation after two earthquakes with magnitudes of 7.8 and 7.3 devastated the country on April 25 and May 12 respectively.

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DESIGN, CONSTRUCTION

Woolpert Acquires Sheehan Nagle Hartray Associates, Global Experts in Mission Critical Design

Woolpert | October 20, 2022

Woolpert has acquired Sheehan Nagle Hartray Associates, a full-service architecture firm that specializes in mission critical and technically challenging projects, interior design and predesign services for commercial, civic and education clients. SNHA has offices in Chicago and London. Principal Neil Sheehan said SNHA wanted to join a nimble, entrepreneurial culture with whom they could develop a visionary, global business strategy. He said in Woolpert, SNHA found transparency and knowledge-sharing across all levels, with clear aspirations for future growth, productivity and success. Woolpert shares our drive for design excellence and understands that innovation is evolutionary, while providing services that complement our own, Sheehan said. In addition, Woolpert's geospatial and engineering capabilities underscore our expertise, allowing us to integrate emerging technologies like computational design, digital twins, reality capture, carbon tracking, and virtual and augmented reality. Woolpert Vice President and Buildings Sector Leader Suzette Stoler lauded the SNHA staff for their passion, integrity and advancement of next-level, sustainable design. "We admire what SNHA has accomplished over the last 50 years and are thrilled that they are part of our Woolpert family, Together we will enhance our dynamic design culture across the globe, while providing meaningful and sustainable solutions for our clients and the industry." -Suzette Stoler, Vice President and Buildings Sector LeaderWoolpert. In addition to industry leadership in data center design, SNHA marks another key milestone in our global expansion plan, Woolpert CEO Scott Cattran said. With existing Woolpert offices already in North America, Africa, Australia and Asia, SNHA expands our design excellence in Europe and extends our capabilities as a global company. AEC Advisors initiated this transaction and acted as a financial advisor to Sheehan Nagle Hartray Associates. About Woolpert: Woolpert is the premier architecture, engineering, geospatial (AEG) and strategic consulting firm, with a vision to become one of the best companies in the world. We innovate within and across markets to effectively serve public, private and government clients worldwide. Woolpert is a top 100 ENR Global Design firm and actively nurtures a culture of growth, inclusion, diversity and respect. Founded in 1911 in Dayton, Ohio, Woolpert has been America's fastest-growing AEG firm since 2015. The firm has 1,900 employees and more than 60 offices on four continents. About Sheehan Nagle Hartray Associates: Sheehan Nagle Hartray Associates is a full-service architectural firm offering architectural design, interior design and predesign services including site selection, program definition and feasibility studies. We are also product designers, focusing on the creation of building systems for emerging design and technology challenges.

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CONSTRUCTION

UCS Secures Multi-Million Cash Advance for West Coast Construction Company

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. .

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ENGINEERING TECH, CONSTRUCTION

Converge Technology Solutions Corp. Acquires Newcomp Analytics

Newcomp Analytics | September 13, 2022

Converge Technology Solutions Corp. ("Converge" or "the Company") (TSX: CTS) (FSE: 0ZB) ( OTCQX: CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce it has acquired Canada-based Newcomp Analytics, an analytics centered organization focused on helping businesses transform and grow in today's digital world. Headquartered in Toronto, and serving hundreds of clients across Canada, US and the Caribbean, Newcomp Analytics assists organizations in building a map to deeper analytics while providing teams with the tools they need to tackle big data projects with confidence. Newcomp Analytics has engaged in significant deployments with businesses across 15+ industries, including government, banking, education, healthcare, financial services, retail, and the public sector. The company offers advisory and development services, along with managed analytics and analytic bootcamps. Newcomp Analytics solution offerings include AI & Machine Learning, Data Engineering, BI & Data Visualization, Financial Planning & Analytics, and Cloud. "Newcomp Analytics is very excited to be welcomed into the Converge family, allowing us to bring our modern data analytics expertise to the global marketplace. Converge's broad technology partnerships and strong client base present a significant opportunity for our team to continue our journey as a trusted analytics advisor to clients across all industries." -Michael Langton, President of Newcomp Analytics. Converge is excited to expand our advanced analytics portfolio and offerings with the addition of Newcomp Analytics, stated Greg Berard, President and North American CEO of Converge. Newcomp Analytics will greatly enhance Converge's ability to help our clients become even more insight-driven and dive deeper into understanding and analyzing their data. Their technical expertise and years of experience will help us drive more value in Canada with our clients and give us more depth and breadth across our North American analytics organization. Newcomp Analytics marks the thirty-fourth acquisition announced by Converge or its affiliates since October 2017. Converge's family of companies also includes Corus Group, LLC; Northern Micro, Inc.; 10084182 Canada Inc. operating as Becker-Carroll; Key Information Systems, Inc.; BlueChip Tek, Inc.; Lighthouse Computer Systems, Inc.; Software Information Systems LLC.; Nordisk Systems, Inc.; Essex Technology Group, Inc.; Datatrend Technologies, Inc.; VSS, LLC; Solutions PCD, Inc.; Unique Digital, Inc.; Workgroup Connections, Inc.; Vivvo Application Studios LTD.; Vicom Computer Services, Inc.; CarpeDatum LLC; Accudata Systems, Inc.; Dasher Technologies, Inc.; ExactlyIT, Inc.; REDNET GmbH; Vicom Infinity, Inc.; Infinity Systems Software, Inc.; LPA Software Solutions, LLC; OPIN Digital, Inc; Paragon Development Systems, Inc.; Visucom GmbH; 1CRM Systems Corp.; Interdynamix Systems; Creative Breakthroughs, Inc.; PC Specialists, Inc. d/b/a Technology Integration Group; GfdB, ImfB, and DEQSTER; and Notarius. About Newcomp Analytics: Headquartered in Toronto, Canada Newcomp Analytics is an analytics-driven organization focused on providing solutions specific to business needs by creating an analytics roadmap to long-term success. With hundreds of deployments across 15+ industries, Newcomp Analytics helps reduce the complexity of big data and provide organizations with the tools needed to tackle projects with confidence. Newcomp Analytics' services and solutions build a map to deeper analytics and allow organizations to become insight-driven with strong analytical capabilities. About Converge: Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge's global solution approach delivers advanced analytics, application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors.

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