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.
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.
H&E Equipment Services | September 20, 2022
H&E Equipment Services, Inc. (“H&E” or the “Company”) (NASDAQ: HEES) today announced the signing of a definitive agreement to acquire One Source Equipment Rental, Inc. (“One Source”), a provider of non-residential construction and industrial equipment with operations in the Midwest and Southern U.S. One Source, which is employee owned, operates 10 branches, including three locations in each of Illinois and Indiana, two locations in Tennessee and one in each of Kentucky and Alabama. Under the terms of the definitive agreement, H&E is expected to pay $130 million in cash for One Source, before customary adjustments. The transaction is expected to close during the fourth quarter of 2022, following regulatory clearance and the completion of other customary closing conditions.
“For more than 20 years, One Source has emphasized a culture where equipment reliability and customer support and satisfaction are vital features for success, resulting in an equipment rental operation with strong consumer loyalty throughout its branch network. These important attributes, which are underscored by a dedicated base of employee owners, offer an exceptional cultural fit with H&E. Also, the transaction will expand our geographic footprint into the Midwest with operations in Illinois and Indiana, as well as operations in Kentucky. Finally, the demonstrated success of our accelerated warm start plan, with 15 warm start and greenfield locations established since early 2021, will prove beneficial as we evaluate post-integration growth opportunities in the Midwest and other surrounding regions with attractive prospects for expansion.”
-Brad Barber, Chief Executive Officer of H&E Equipment Services.
Over the last twelve months ended July 31, 2022, One Source has generated revenues of approximately $59 million with a fleet size, as measured by original equipment cost (OEC), of approximately $138 million. One Source’s fleet consists primarily of aerial work platforms, material handling equipment and other general equipment lines.
About H&E Equipment Services, Inc:
Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation. The Company’s fleet is among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast States, Southeast, Midwest, and Mid-Atlantic regions.
Autodesk | September 28, 2022
iOffice + SpaceIQ, the global workplace technology company, has announced the release of Building Information Modeling (BIM) Viewer, which will leverage digital twins — digital representations of company assets and facilities — to transform and optimize operational performance.
With the introduction of BIM Viewer, iOffice + SpaceIQ aims to help businesses eliminate operations blind spots by making it easier to connect asset and facilities data — enabling users to explore, locate, interact with, and report on space and asset data that was previously difficult to access.
By reducing the knowledge gaps that occur in the handover from construction to operations, BIM Viewer businesses run their facilities and equipment as intended, ultimately contributing to a lower carbon future.
Last year, iOffice + SpaceIQ announced a strategic investment by Autodesk to enhance the integration between Autodesk's BIM platform and Archibus, iOffice + SpaceIQ's integrated workplace management system.
This release marks a major step forward for digital transformation initiatives in the historically fragmented building lifecycle by addressing several key challenges companies face when considering the implementation of digital twins, including difficulty with integration, overall system complexity, and the time and cost of building out the digital twin.
The Archibus BIM Viewer uses Autodesk Forge® APIs to render BIM models stored in Autodesk Construction Cloud® or Autodesk Build, speeding the set-up process and significantly reducing the time it takes to train operations teams to use the technology.
BIM Viewer enhances 3D BIM models with asset, operations, and space data, allowing asset and maintenance managers to quickly explore where their assets are, how they connect, which areas need attention, and how they impact the building and the business.
By combining the power of design, operational, and performance data into a single platform, users will be able to improve efficiency and make smarter, more strategic decisions about their portfolios.
"The voice of our customers drove us to find a new way to provide richer and more connected building and asset data. We're proud to be an innovator in this industry, BIM Viewer will ease the challenges many users have faced when adopting and deploying digital twin strategies, enabling companies to get up to speed on digital twin technology faster — with less complexity and quicker implementation."
-Brandon Holden, Chief Executive Officer of iOffice + SpaceIQ.
The new offering arrives amid growing interest in digital twins and calls to ramp up digital transformation initiatives. According to a recent Microsoft report, the adoption of digital twins has lagged behind other digital investments due to difficulties with integration and internal skill gaps.
About iOffice + SpaceIQ:
iOffice + SpaceIQ empowers how tomorrow will work, helping employees and companies adapt and thrive to produce better outcomes for the world. Our smart workplace technology enables over 10,000 organizations in 85 countries to improve business performance through intuitive, people-first space planning and operations. More than 2M end users rely on iOffice + SpaceIQ platforms to optimize more than 2B square feet of space valued at more than $64B, maintain mission-critical assets, and enhance how people interact with the workplace.