AECOM reportedly in talks with WSP

AECOM, WSP Global | January 14, 2020

Los Angeles-based construction and engineering giant AECOM is in talks with Canadian firm WSP Global Inc. about a possible deal, Bloomberg reported last night. Media reports said that WSP approached AECOM about the potential transaction, according to sources familiar with the two companies. Although there is no guarantee that the talks will lead to a deal or how a deal would play out, analyst Andrew Wittmann said in a written research report that he believes the discussions likely have some merit for several reasons, including the fact that WSP's stated goals include acquisitive growth, that AECOM stock has inexplicably climbed in recent days and that AECOM leadership is currently transitioning. Chairman and CEO Michael S. Burke announced in November that he will retire this year.

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CONSTRUCTION

Construction Procurement Platform Kojo Improves Inventory Management for Contractors With New Digital Solution

Kojo | August 17, 2022

the construction industry's leading procurement platform – today announced its new warehouse inventory management offering. Kojo Warehouse is the first and only solution for contractors to track and manage their warehouse material inventory in real-time. The offering provides visibility into both general and job-specific warehouse stock, at any time, from anywhere. "Contractors have lacked true visibility into their warehouses for too long, We've heard from customers that they need a streamlined, efficient way to manage their warehouses and take control over the current instability in the industry. Kojo's Warehouse is the first solution that ensures contractors have immediate insight into their material inventory, and empowers them to reduce costs and cut waste." -Maria Rioumine, CEO and founder of Kojo. Increasing construction costs, material and labor shortages, and supply chain constraints are putting contractors at risk of going over budget or completing projects late. These challenges, paired with tedious and error-prone warehouse management practices, such as pen-and-paper notes or Excel sheets, result in contractors wasting money, time, and materials. Kojo's Warehouse solution empowers contractors to streamline their inventory management system and procure the materials they need faster. By connecting the warehouse, office, field teams, and vendors on one platform, Kojo gives contractors real-time visibility into what they have in their warehouse, while making it easy to request quotes and make purchases with vendors for materials they need. "With Kojo's Warehouse solution, our team now has transparency into what materials are available for our jobsites – whether we're in the field, office or the warehouse, a full-service electrical, heating, cooling, plumbing, and alarm contractor. "By not having to order material that has already been purchased, we are saving a significant amount of time and money, and staying on budget." -Gary Philips, president at Premier Service Company Inc. Utilizing Kojo Warehouse, contractors can better manage their warehouse materials to make smarter purchasing decisions and reduce the time it takes to deliver materials to the jobsite. This helps contractors become more resilient to challenges such as backorders and delivery delays, high prices for last-minute orders, and material waste. Kojo Warehouse also creates additional cost savings by empowering contractors to increase buyouts and bulk orders. About Kojo: Kojo, the construction industry's leading procurement platform, enables trade and self-perform general contractors to take control of their margins by consolidating the procurement process onto one, all-inclusive digital platform. By connecting the field, office, warehouse, accounting teams, and vendors, contractors gain visibility into real-time materials spending and usage, streamline workflows, and increase labor productivity. Contractors have access to a network of thousands of vendors to source the best prices and availability, find cost savings and reduce material waste. Kojo is trusted by hundreds of contractors and utilized by thousands of construction professionals across the country every day.

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DESIGN,CONSTRUCTION

Godspeed Capital-backed Huckabee Architects Acquires Image Engineering Group

Huckabee Architects | August 16, 2022

Godspeed Capital Management LP (“Godspeed Capital”), a lower middle-market Defense & Government services, solutions, and technology focused private equity firm, today announced the successful acquisition of Image Engineering Group (“IEG” or the “Company”), a Texas-based Mechanical, Electrical, and Plumbing (“MEP”) design firm focused on sustainability in the education, commercial, and retail markets. The financial terms of the transaction were not disclosed. Founded in 1991 in Westlake, Texas, IEG is a leading provider of innovative MEP design and engineering solutions. Driven by a mission to deliver sustainable, cost-effective buildings and deep expertise operating within the education, commercial, and retail architecture markets, IEG’s seasoned management team boasts a more than 30-year track record of providing environmentally friendly and cost-effective MEP solutions to education, commercial, and retail facilities across Texas and nationally. IEG will join Rachlin Partners and TSK Architects as part of Huckabee Architects, Inc. (“Huckabee”), Godspeed Capital’s Architectural, Engineering, and Consulting (“AEC”) services and solutions growth platform focused on education and government markets. Continuing Godspeed’s ongoing strategy to further grow and diversify Huckabee’s capabilities, IEG will add technology solutions, geographic and market reach, and customer relationships to the platform. Under the Huckabee umbrella, IEG will integrate its MEP engineering capabilities to enhance the platform’s design innovation and expand the continuum of capabilities offered to Huckabee’s growing customer base. “We are thrilled to announce the addition of IEG to our platform, whose highly technical MEP engineering capabilities are a key area of expertise for Huckabee as we work to become a diversified, leading national AEC services platform. IEG is a recognized leader within the industry and has gained a tremendous amount of respect for their innovative engineering solutions and the premier client service that IEG’s team brings to each of its projects. We look forward to leveraging the firm’s capabilities to provide Huckabee’s clients a fully comprehensive offering of AEC services and solutions.” -Chris Huckabee, Chief Executive Officer of Huckabee. Don Penn, Founder of Image Engineering Group, said, We are excited to join forces with Huckabee and add new design and engineering innovations, scale, and diversity to the platform. Not only will Huckabee’s expansive AEC offerings enable us to expand our network into the growing K-12 and Higher Education sectors across the Southwestern US; the platform will also provide us with a substantial inflow of work to backfill our business development pipeline. About Image Engineering Group: Image Engineering Group is a Mechanical, Electrical, and Plumbing design firm located in the Dallas-Fort Worth, Texas area founded by Don Penn in 1991. IEG has dedicated its efforts to educating school districts and other specialty clients in ways to become more environmentally friendly and cost effective in their Mechanical, Electrical and Plumbing design. IEG’s over 30 engineers and designers, by merging geothermal HVAC with solar and wind solutions, have created some of the most energy efficient facilities in the country. About Huckabee Architects: Huckabee Architects is the platform brand of Godspeed Capital’s new architecture, engineering, and consulting services and solutions growth strategy focused on providing cutting edge, technology-driven education design and engineering solutions in attractive, high-growth U.S. markets. Founded in 1967 and headquartered in Fort Worth, Texas, Huckabee is the largest education architecture and design services firm in the state of Texas and consistently ranks among the top educational architecture firms in the nation. The firm’s expertise ranges from early learning to higher education, the arts, athletics and spaces where learners of all ages can expand their knowledge. The firm’s education-focused services complement a holistic, human-centric and evidence-based approach to design. About Godspeed Capital: Godspeed Capital is a lower middle-market Defense & Government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations.

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ENGINEERING TECH,CONSTRUCTION

Bowman Consulting Group Expands into Marine Engineering through Acquisition of Anchor Consultants LLC

Bowman Consulting | August 30, 2022

Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), today announced the purchase of Anchor Consultants LLC (“Anchor”). Headquartered in Chadds Ford, Pennsylvania, Anchor specializes in the planning, inspection, design, environmental permitting, dredging engineering, and construction management of waterfront infrastructure along coastal and inland waterways throughout North America. Under the leadership of Ahmad Nadeem, PE, the company’s founder, Anchor’s experience ranges from industrial ports and harbors to urban waterfront development. On the industrial side, Anchor services facilities handling bulk materials and containerized freight. On the urban side, Anchor services commercial and mixed-use waterfront developments, ferry terminals, and recreational docks. Anchor has also worked on military port facilities and cruise terminals. “The acquisition of Anchor furthers our diversification initiative adding to our customer base that builds and maintains critical infrastructure, Ports and harbors are a critical component of the nation’s infrastructure and Anchor provides us with a solid platform from which to build our presence and market share in this growing space. Ahmad has built a great team of experienced marine engineers serving an impressive list of clients with a broad array of services. Their expertise in waterfront planning, design and engineering will enable us to provide these services to many of our current clients and gain immediate cross-selling opportunities for our client relationship managers.” -Gary Bowman, CEO of Bowman. Bowman’s vision for expanding Anchor's business was extremely compelling to us, said Ahmad Nadeem, founder of Anchor. Being part of a larger organization with more resources and a national footprint will no doubt facilitate accelerated growth for us. Bowman’s culture aligns with what we have worked so hard to build here at Anchor and that was a major factor in our decision to join with them. We are grateful for the trust that Gary and his team have placed in us to build Bowman’s ports and harbors and waterfront engineering practice. The Company expects the Anchor acquisition to initially contribute approximately $2.5 million of annualized net service billing and be immediately accretive. The transaction was financed with a combination of cash and notes including an unsecured seller note and a convertible seller note with an $18.00 per share conversion option. “Anchor is our fifth acquisition of 2022, bringing the total annualized net revenue we have acquired this year to just under $50 million, The Anchor acquisition, which was transacted well within our target multiple range, meets all objectives for operating metrics, revenue synergy and cross-selling opportunities. As is our practice, we will provide more detailed information on M&A activities, pipeline, and guidance in connection with our scheduled quarterly communications.” -Bruce Labovitz, Bowman’s CFO. About Anchor Consultants: Anchor Consultants, LLC provides engineering services related to waterfront facilities with primary focus on port facilities. The highly skilled engineers of Anchor have extensive experience in feasibility studies; cost estimation; planning; under and above water inspection & investigation; design; permitting; construction inspection & management; dredging; and claim and litigation support. Anchor uses state of the art technology for analysis and design projects. Anchor’s client list includes both public and private clients. Anchor’s engineers have planned, analyzed, permitted, and designed numerous waterfront facilities. Anchor has also engineered the dredging of port facilities including sediment sampling and testing, environmental permitting, securing AUD, and managing the dredging and disposal operations. 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 65 offices throughout the United States, Bowman provides a variety of planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, 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.

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