Construction
PR Newswire | August 09, 2023
Revizto, the industry-leading Integrated Collaboration Platform that streamlines and centralizes project workflows and communication, announced today a new three-year enterprise agreement with XL Construction, a purpose-driven Northern California-based organization focused on building to improve lives.
XL Construction believes that the landscape of constant change we live in can only be navigated with the right tools, an unbreakable moral compass, and a commitment to teamwork and collaboration. This means embracing transformative technologies without losing sight of humanity.
The company began piloting the Revizto platform to enhance cross-team collaboration amongst all disciplines. After a 10-month pilot and receiving immense positive feedback from the field teams, the company chose to expand its partnership.
"You cannot coordinate in a vacuum if you expect a project to be successful," said Trevor Johnston, Director of Construction Technology for XL Construction. "As we continue to take on larger, more complex work, we have been seeking technology solutions that support more effective collaboration with all stakeholders. Revizto rose to the top as the solution that best enables us to facilitate meaningful dialogue and collaboration with all project participants; makes coordination more efficient; brings in real world conditions through reality capture tools; and, most importantly, is easy to access from anywhere. Having Revizto as our enterprise solution for model coordination and visualization will enable our project teams to be exponentially more collaborative and productive."
XL is committed to delivering a high-quality end product with a collaborative construction process. The planning, collaboration, communication, and execution for each of their projects is focused on the success of the entire team. XL's enterprise agreement with Revizto will enable their teams to invite unlimited cross-functional users into any project to ensure collaboration and communication is streamlined and centralized in one user-friendly platform that can be accessed from any device.
"We knew right from our very first meeting with XL Construction that this was going to be a special team to work with. It would be an understatement to say that our two visions of what construction technology adoption should look like are mutually aligned. Put simply, the folks at XL just get what it takes to be successful. The fact that they knew after just 10 months that Revizto was the platform for them, and then to have the courage to make such a monumental shift in their process at such an early stage, tells you everything you need to know about them as a company." - Greg Keller, Director of North America for Revizto
Revizto and XL Construction's partnership will be highlighted at the upcoming Revizto Field Day on August 10th in San Jose, California. During this free AEC networking event, Trevor Johnston will be presenting "Road to Revizto" - a session outlining XL's overall journey in testing, adopting, and implementing a new platform, to share how you can make this process less intimidating. He will also be sharing best practices that worked for his team in making this a successful and smooth transition. To register or find a Field Day in your area, click here.
About XL Construction
XL Construction is a leading general contractor whose mission is to "build to improve lives." XL partners with today's leaders in life sciences, advanced technology, commercial, civic, healthcare and education sectors to create places that make its communities better. The company's focus and passion for team success has earned it a network of great partners and a reputation for putting people first. XL Construction is consistently ranked among the top general contractors in Northern California. In 2020, the company was named ENR California's 2020 Contractor of the Year and the #1 Best Place to Work in the Bay Area.
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Engineering Tech
Businesswire | July 06, 2023
Mayville Engineering Company, Inc., a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced that it had completed the acquisition of privately held Mid-States Aluminum (“MSA”) on July 1, 2023.
Wisconsin-based MSA is an industry-leading, vertically integrated manufacturer of custom aluminum extrusions and fabrications. MSA offers value-added services that include design, engineering, extrusions, fabrication, anodizing and finishing, assembly, and packaging. With MSA, MEC secures an attractive entry-point within light-weight materials fabrication, while providing significant new cross-selling opportunities with both new and existing customers.
“This immediately accretive acquisition, excluding transaction costs, accelerates our entry into high-value, light-weight materials fabrication, consistent with the commercial growth strategy outlined in our MBX value creation framework,” said Jag Reddy, President and Chief Executive Officer. “With MSA, we’ve joined forces with another talented team whose commitment to value creation is closely aligned with our own, as demonstrated by their consistent track record of innovation, performance excellence and profitable growth. We look forward to a seamless integration process, one guided by a collaborative focus on delivering exceptional quality, service and unparalleled value to our combined portfolio of world-class customers.”
As previously disclosed, for the full-year 2022, MSA recorded total revenue and Adjusted EBITDA of approximately $86 million and $16 million, respectively, resulting in an Adjusted EBITDA margin of more than 18%. At closing, the transaction was immediately accretive, excluding transaction costs, to MEC’s earnings per share, Adjusted EBITDA and free cash flow. Based on current expectations and market conditions, the Company expects that the MSA acquisition will contribute between $30 to $35 million of net sales and between $4 to $6 million in Adjusted EBITDA for the fiscal year 2023.
ABOUT MAYVILLE ENGINEERING COMPANY
Founded in 1945, Mayville Engineering Company (MEC) is a leading U.S.-based, vertically-integrated, value-added manufacturing partner providing a full suite of manufacturing solutions from concept to production, including design, prototyping and tooling, fabrication, coating, assembly and aftermarket components. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction & access equipment, power sports, agriculture, military and other end markets. Along with process engineering and development services, MEC maintains an extensive manufacturing infrastructure with 20 facilities across seven states. These facilities make it possible to offer conventional and CNC (computer numerical control) stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly, and logistic services. MEC also possesses a broad range of finishing capabilities including shot blasting, e-coating, powder coating, wet spray and military grade chemical agent resistant coating (CARC) painting.
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Education, Engineering Tech
Businesswire | August 21, 2023
Tanner Engineering, founded in 1996, and located in La Mesa, California, specializes in complex electrical engineering design with specific experience in healthcare, alternative energy, and education. Their scope of services include lighting, power distribution, medium voltage, fire alarm, energy retrofits, and arc flash coordination studies.
In addition, they have expertise in facility assessments, OSHPD/HCAI – NPC studies, master planning, and innovative design strategies for microgrids and emergency electrical system upgrades. One of their most recent successes is six of the first group of microgrid projects ever approved by OSHPD/HCAI and the state of California.
RTM Engineering (RTM), located in Schaumburg, Illinois, is a national MEP, Civil, and Structural engineering consulting firm that has achieved success by remaining privately-owned and governed by its leadership team of partners. RTM has highlighted its commitment to growth through investment in successful entrepreneurial firms throughout the country, with a like-minded vision of the future.
“We have great admiration for the work produced by the RTM team and their well-established reputation within the industry. The merger between our two firms will offer some exciting prospects in undertaking new and challenging projects on a national scale,” said Rocky Tanner, President of Tanner Engineering.
Tanner added, “Much like RTM, Tanner Engineering is committed to delivering innovative design solutions for their clients’ projects, while also fostering an employee-centric culture of collaboration, respect, and trust. With our core values being so perfectly aligned, this merger will allow us to enhance our capabilities with existing clients; identify new opportunities for our newly combined team of 370+ engineering professionals across the country; and further our commitment to sustainable growth.”
“We are thrilled to be welcoming the Tanner Engineering team to RTM, their specialized expertise in the California market is unmatched, and the culture they have built aligns greatly with our own. We can’t wait to see what the future holds as we merge our two organizations,” said RTM CEO, Tony Mirchandani.
Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham and his team, led by Managing Director, M&A, Mike Meredith, with support from Senior Vice President, M&A Amy Wall closed the merger. Executive Managing Director, Rick Buchoz established the initial relationship with Tanner.
“Tanner Engineering’s expertise will merge well with RTM Engineering’s vast knowledge in the California market and beyond,” said Meredith.
About RTM Engineering Consultants
RTM Engineering Consultants, We are an engineering firm that goes beyond a typical consulting role. We become a partner to our clients by aligning with the goals, processes, and people at each organization. Since our inception in 1981, we have stood for a consistent offering by way of exceptional responsiveness.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With more than 350 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. The Generational suite of advisory services includes strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A services, wealth management and digital services.
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