Procore | July 16, 2022
Procore Technologies, Inc.a leading global provider of construction management software, today announced it is working with Amazon Web Services (AWS) to leverage AWS IoT TwinMaker to extend the value of construction data into facility operations. The tools AWS IoT TwinMaker provides accelerate the creation of digital twins for buildings, factories, industrial equipment, and production lines.
Procore’s platform serves to connect all construction stakeholders in the lifecycle of a built asset. AWS IoT TwinMaker will allow Procore data to be integrated from design and construction into operations. Procore project owners will be able to incorporate as-built information from Procore with real-time data sources using TwinMaker, extending the value of construction information into operations. This consolidation of information can streamline operations and maintenance and enable lifecycle analysis of portfolio assets.
“We’re very excited about our partnership with AWS. Roughly 80% of the lifecycle cost of a project is in the operations phase, With this partnership we can leverage Procore’s course of construction data during that operations phase to help owners reduce costs, optimize performance, and be better prepared for future project needs.”
-Tiffany LaBruno, product director, owners at Procore.
AWS IoT TwinMaker will make it faster and easier to create digital twins of real-world systems. Using AWS IoT TwinMaker, developers can get started quickly building digital twins of devices, equipment, and processes by connecting AWS IoT TwinMaker to data sources like equipment sensors, video feeds, and business applications. Built-in connectors for integration with sensors, 3D visualization, and downstream data analytics are transforming the built environment.
Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe
Render Networks | June 14, 2022
Global leader in geospatial network construction technology, Render Networks, announced the expansion of its Network Construction Platform to include three solutions: Render Scale, Render Connect, and Render Redline - designed to reduce the time and effort required to manage all sizes and types of network builds.
The broadband industry is preparing to support over 10 million FTTH connections by the end of 2023. However, not all activity is focused on large, one-time fiber deployments. Increasingly, network operators and construction contractors are looking to solve adjacent construction challenges with the same field productivity and downstream efficiencies.
The platform’s broader capabilities now streamline construction beyond large-scale deployment, including stand-alone GIS redline changes, small or high-volume network maintenance works and customer drops.
Render Scale is the company’s flagship geospatial construction solution for managing large-scale deployment. Render’s Digital Construction Blueprint transforms network designs into a task-level GIS scope, harnessing the power of automation and machine learning to achieve industry-leading outcomes. Render’s customer portfolio has seen production rate increases of up to 30%, and direct project cost and schedule benefits of 20%.
Render Connect is a fast-start offering designed to manage small or high-volume builds with highly efficient digital construction processes. Protect margins with faster scoping and turnover of assets for customer connections and ongoing operations and maintenance work.
Render Redline is a light-touch redline change solution that helps construction teams simplify their redline change process with real-time GIS data capture and management. Working alongside existing construction systems and tools, Render Redline is simple to use and cuts redline change management overheads by up to 50%.
Network and construction teams are actively seeking responsive, agile, and innovative solutions that unlock new efficiencies, especially faster build times.”
Sam Pratt,Render CEO
“Render consistently enables network operators and EPCs to achieve some of the best network construction outcomes delivered across the industry. With the addition of Render Redline and Render Connect, our innovation now solves for the full breadth of network construction works, from initial deployment, through to customer connection drops and ongoing maintenance works.”
“By lowering barriers of entry and creating a new Redline change management solution, all network operators and construction teams can access Render and deliver outstanding results for the customers and communities they exist to serve.”
About Render Networks
Founded in 2013 with a mission to build networks better, Render has a successful history of streamlining large-scale network construction for CSPs and construction teams. Through the automation of manual tasks and improved utilization of resources, Render’s end-to-end geospatial network construction platform eliminates all paper-based processes, achieving real-time progress transparency and generating time and costs efficiencies of greater than 30% and improving visibility and control across global telco infrastructure rollouts.
Cornerstone Building Brands | July 28, 2022
Cornerstone Building Brands, Inc. (“Cornerstone Building Brands” or the “Company”), the largest manufacturer of exterior building products in North America, today announced that Clayton, Dubilier & Rice (“CD&R”) has successfully completed the acquisition of Cornerstone Building Brands.
Holders of a majority of the shares of Cornerstone Building Brands common stock not owned by CD&R and its affiliates voted to approve the acquisition at the Special Meeting of Stockholders held on June 24, 2022. The acquisition also received the approval of the holders of a majority of the shares of Cornerstone Building Brands common stock outstanding at the Special Meeting. With the completion of the acquisition, Cornerstone Building Brands’ common stock has ceased trading and will no longer be listed on the New York Stock Exchange.
“The closing of this transaction is an important milestone for Cornerstone Building Brands, and we are pleased to be entering our next phase of growth as a private company, With CD&R’s operational and strategic support, Cornerstone Building Brands will be even better positioned to accelerate our future growth plans and advance our journey to be the premier exterior building solutions company and deliver enhanced value to our customers. I want to thank all Cornerstone Building Brands employees for their continued dedication and hard work. This transaction is a testament to our team’s unwavering commitment to our customers and focus on executing our strategy. I am excited about the opportunities ahead for Cornerstone Building Brands, and I look forward to continuing our work together as we drive value for all stakeholders.”
-Jeffrey S. Lee, Executive Vice President and Chief Financial Officer of Cornerstone Building Brands.
J.L. Zrebiec, Partner at CD&R, said, We have long admired Cornerstone Building Brands’ business and talented team, and we are thrilled to work even more closely with its leadership team and employees in this next chapter. We firmly believe that the Company is uniquely positioned to expand on its position as the largest manufacturer of exterior building products in North America, and we look forward to working together to build on the significant momentum underway.
Centerview Partners LLC is serving as financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to a special committee of Cornerstone Building Brands’ independent directors. Sullivan & Cromwell LLP is serving as legal counsel to Cornerstone Building Brands.
UBS, Barclays, BNP Paribas Securities Corp., Goldman Sachs, Jefferies, Natixis, New York Branch, RBC Capital Markets, and Societe Generale are providing financial advisory services to CD&R. Kirkland & Ellis LLP is serving as legal counsel to CD&R on the transaction and Debevoise & Plimpton LLP is serving as legal counsel to CD&R on the financing. CD&R has obtained committed financing from Deutsche Bank Securities Inc., UBS Investment Bank, Barclays, BNP Paribas, RBC Capital Markets, Societe Generale, Goldman Sachs, Natixis, New York Branch, Jefferies, Apollo, Blackstone Credit, and U.S. Bank.
About Cornerstone Building Brands, Inc:
Cornerstone Building Brands is the largest manufacturer of exterior building products by sales for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., we serve residential and commercial customers across the new construction and repair and remodel markets. Our market-leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems and metal accessories. Cornerstone Building Brands’ broad, multichannel distribution platform and expansive national footprint includes more than 20,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and environmental, social and governance (ESG) responsibility are embedded in our culture. We are committed to contributing positively to the communities where we live, work and play.
About Clayton, Dubilier & Rice:
Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since its inception, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of over $175 billion.