Blackmon Mooring & BMS CAT | August 19, 2022
BMS CAT is proud to announce the acquisition of Highland Construction. Highland has three operating locations in eastern North Carolina – the main branch is in Fayetteville, with facilities also in Raleigh and Wilmington. This acquisition gives BMS CAT four operating branches covering the state of North Carolina, including Charlotte. Highland has been in business since 1981, and provides residential and commercial services for mitigation and reconstruction.
"BMS CAT is pleased to announce our strategic acquisition of Highland Construction. We have viewed the North Carolina marketplace as a key geography in our company's growth strategy. Kenny Strickland has built a tremendous business over the last 41 years, and we are excited to merge our two rich cultures together as one company. By doing so, we will be able to provide the best restoration and construction services to our combined customers. Highland Construction's commitment to quality is exemplified through their remarkable team of employees."
-Tom Head, President & CEO of Blackmon Mooring & BMS CAT.
Highland's partnership with BMS CAT is an incredible opportunity for our employees, our customers, and the areas we serve. It allows us to take on bigger and more complex projects while maintaining our high-quality standards; It gives our team access to even greater professional opportunities; and, it gives our markets even more support when and where they need it most. It's a very exciting partnership, said Kenny Strickland, former President of Highland Construction.
Today's announcement is the eighth in a strategic plan of acquisitions to support BMS CAT growth. The company previously acquired North Carolina-based Diamond Restoration, Michigan-based Jarvis Restoration, Pennsylvania-based FireDEX of Pittsburgh, South Carolina-based CATCON, Pennsylvania-based Mellon Certified Restoration and Florida-based Guardian Restoration.
About Blackmon Mooring & BMS CAT:
Started in 1948 as a furniture and dye shop, Blackmon Mooring has grown to become a leader in each service area it practices – from fire and water restoration to storm damage recovery. The earliest founders of Blackmon Mooring built their business on reliability, quality and superior customer service. In 1981, the company expanded its reach globally with the addition of the BMS CAT division and since then, it has responded to some of the world's most devastating disasters. Today, the company follows the same principles it was founded upon, and always remembers that the customer is the cornerstone of the business.
Daman Products Company | September 08, 2022
Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, has entered into a definitive agreement to acquire the assets of Daman Products Company “Daman”. Founded in 1976, Daman is headquartered in Mishawaka, Indiana and is a recognized leader in complex manifold design and manufacturing for precision hydraulic manifolds and related fluid conveyance products. Daman products are used in numerous hydraulics applications for industrial and mobile markets including applications in the oil and gas, railroad, construction, agriculture, forestry, mining, material handling, machine tool, robotics, and entertainment industries. Daman is a highly recognized brand with a quality reputation, has leading market share in the standard manifold niche market segment, as well as in custom designed integrated solutions. Sun Hydraulics, a Helios company, and Daman have collaborated for years to create solutions that address customers’ fluid power challenges.
“Adding Daman onto our pure play Hydraulics platform is a clear demonstration of the continued progress we are making with our flywheel acquisition strategy. Daman has established, long-term relationships with a diversified customer base serving multiple end markets. They bring a differentiated value proposition through sophisticated inventory programs that reduce supply chain delays and enable rapid delivery. They also leverage a strong engineering team that works closely with customers and distributors to design custom tailored solutions for a breadth of applications as well as standard manifold designs. Daman is a critical supply channel partner that provides a notable combination of high-quality products with value-added engineering, inventory management, rapid prototyping, and assembly services. With over 300 years of combined experience resident in-house, we expect this acquisition to enhance Helios’ technologies through product integration, enabling further system sale opportunities, and diversification of end markets.”
-Josef Matosevic, Helios’ President and Chief Executive Officer.
About Daman Products:
Founded in Mishawaka, IN in 1976, Daman is a leading designer and manufacturer of standard and custom precision hydraulic manifolds and other fluid conveyance products. Daman is centered on a culture of innovation with new technology and new machinery, and recognition of its highly valued employees and customers. Daman's hydraulic manifolds help power industrial and mobile equipment worldwide. Distributors throughout North America trust Daman’s proven technology and innovative design to deliver standard components, while the company has expanded its custom engineering capabilities to become a leading, single-source, full-range manifold supplier.
About Helios Technologies:
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine, health, and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997.
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.