ENGINEERING TECH, CONSTRUCTION
PR Newswire | June 02, 2023
OpenSpace, the global leader in 360°realitycapture and AI-powered analytics, announced today a new strategic relationship to promote greater transparency and coordination in the construction industry with Revizto, the industry-leading Integrated Collaboration Platform that streamlines and centralizes project workflows and communication. Both companies are dedicated to unlocking the potential of BIM on construction sites and improving the exchange of information between VDC (Virtual Design and Construction) and field teams.
While BIM has gained widespread adoption among design and engineering professionals, its utilization in the field has been limited. According to the report "Accelerating Digital Transformation Through BIM" by Dodge Construction Network (2021), contractors using BIM have witnessed significant improvements in quality, health and safety, cost control, schedule control, and overall business results. However, only 44% of general contractors, 35% of specialty trade contractors, and 33% of owners have integrated BIM into their practices, indicating a gap between office and field teams. On the other hand, reality capture technology is becoming widely embraced on construction sites.
To bridge this gap, OpenSpace has made substantial investments in its reality capture platform and BIM capabilities. The technology aims to simplify BIM visualization and make it actionable in the field, strengthening coordination between office and field teams. The company has already observed a 27% increase in users that utilize BIM, indicating a strong interest in combining BIM and reality capture in the field.
Revizto is collaborating with OpenSpace to deliver integrated workflows to their mutual customers. "Through our collaboration with Revizto, we can prioritize the interests of both VDC and field teams," said OpenSpace CEO Jeevan Kalanithi. "By streamlining workflows, we can enhance coordination, save valuable time on a daily basis, accelerate project completion, and enable VDC managers and field teams to be more efficient so they can focus on what they do best."
“We are excited to work alongside partners that share the vision to empower the teams on-site. With Revizto, our customers can use solutions like OpenSpace to help field teams effortlessly capture current site conditions, compare it to BIM models, and explore their sites,” said Arman Gukasyan, Founder and CEO of Revizto. “When combined with our platform, the power to break down data silos and facilitate seamless collaboration among project teams anytime, anywhere, will be easier than ever.”
Further details on the Revizto and OpenSpace collaboration will be unveiled at Waypoint, OpenSpace's virtual customer summit, on June 8, 2023. The event will feature sessions with customers, industry leaders, and innovators sharing insights, best practices, and exciting product announcements under the theme of "Simple & Fast Coordination: Connecting Field & VDC through Reality Capture." For more information and registration, please visit our event page.
About OpenSpace
OpenSpace , the global leader in reality capture and AI-powered analytics, empowers construction and real estate companies of every size to create an interactive 360° digital view of their built environment. Customers have used OpenSpace to operate more efficiently and reduce risk, capturing more than 17 billion square feet of imagery from construction projects across thousands of sites in more than 93 countries.
About Revizto
Revizto is the leading Integrated Collaboration Platform used by professionals from across the Architecture, Engineering, Construction, and Operation/Owners (AECO) industry to streamline workflows and communication with all stakeholders in a unified environment throughout the project lifecycle. The Revizto platform is intuitive, adaptable, and fully functional from any device.
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CONSTRUCTION
Businesswire | June 05, 2023
The Kleinfelder Group, Inc. (“Kleinfelder”), a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm, announced today that it has acquired Doucet & Associates, Inc. (“Doucet”). The transaction, which closed on May 31, 2023, fortifies Kleinfelder’s commitment to strategic growth and strengthens an already robust client and service portfolio in the growing Texas market.
Founded in 1992 and headquartered in Austin, Texas, Doucet provides civil engineering, environmental permitting, surveying, and construction management services to clients throughout Texas. Doucet is focused on delivering these services to public and private sector clients in the land development, commercial, education, healthcare, industrial, municipal, transportation, and water resources markets.
“The Doucet acquisition further establishes Kleinfelder’s presence in Texas,” stated Kleinfelder President and CEO Louis Armstrong. “Doucet’s strong client base, successful project delivery track record, and service capabilities will create near-term revenue synergy opportunities for Kleinfelder. The combination will also create numerous career opportunities for Doucet’s employees.”
With the close of the transaction, the Doucet organizational structure will remain unchanged, operating under the direction of its existing operational leadership team led by John Doucet. The Doucet organization consists of over 110 professionals spread across six offices in Texas and will be incorporated into Kleinfelder’s Central Division business unit, which is led by Executive Vice President and Central Division Director Lisa Millet.
“We are elated to find a perfectly aligned partner in Kleinfelder,” noted Doucet President Amy Doucet. “In addition to the complementary services, market strategies, and long-term client satisfaction, Kleinfelder’s culture and focus on people stood out and will allow our exceptional staff opportunities to grow together.”
Kleinfelder’s Commitment to Strategic Growth
Doucet represents Kleinfelder’s sixth acquisition over the last three years. Kleinfelder remains focused on driving a strategic plan centered on organic growth bolstered by acquisitive expansion, with the goal of acquiring firms with complementary employee-focused cultures and a trusted commitment to clients.
Winston & Strawn LLP served as legal counsel and KPMG provided transaction advisory and tax services to Kleinfelder. Morrissey Goodale LLC served as sell-side financial advisors, MouerHuston, PC as sell-side legal advisors, and PKF O’Connor Davies for transaction advisory and tax services to Doucet.
Kleinfelder. Bright People. Right Solutions.
Founded in 1961, Kleinfelder is a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Kleinfelder now employs more than 3,100 professionals and operates from over 105 office locations in the United States, Canada, and Australia. The company is headquartered in San Diego, California. Poised for growth, Kleinfelder continues to provide high-quality solutions for our diverse client base.
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SAFETY AND REGULATION, ENGINEERING TECH
Businesswire | May 16, 2023
Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), today announced the purchase of Fisher Engineering, Inc. (“Fisher”), a professional services firm specializing in customized fire protection and life safety engineering for public and private customers. Founded in 2007, Fisher serves customers across the United States and internationally from offices in Atlanta, Baltimore, Charlotte, Detroit, Portland (ME), Phoenix and Virginia Beach. The firm provides an extensive array of technical services involving code consulting, commissioning, life safety survey and analysis, systems design, fire, smoke and egress modeling, performance-based design, litigation and forensic engineering, and third-party reviews. Fisher works with clients in a broad range of sectors including aviation, data centers, education, fueling, government, healthcare, hospitality, commercial and industrial real estate, oil and gas, student housing and technology hubs. Fisher’s workforce of twenty-four professionals, including Doug Fisher, the firm’s Principal Fire Protection Engineer and Co-Founder, will join Bowman in connection with the acquisition.
“We’ve been pursuing the acquisition of Fisher for quite some time,” said Gary Bowman, CEO of Bowman. “Fisher has built a great platform from which we can expand a national and international fire protection and life safety practice. Doug and the Fisher team possess a depth of expertise that complements the services we offer and aligns perfectly with our extensive customer base. Fisher’s experience as a prime contractor to the United States federal government will provide us a pathway to expand our reach to the single largest infrastructure consumer in our market. We’re all looking forward to realizing the inherent revenue synergies that will come from this acquisition.”
“Bowman has a reach that will enable our business to grow at a rate we could not otherwise achieve,” said Doug Fisher, Principal Fire Protection Engineer and Co-Founder of Fisher. “There’s a tremendous opportunity to leverage our collective experiences, customers, and cultures to create something far bigger and more valuable than what we have today. Fisher brings experience in federal contracting and prime government contracts that enhance Bowman’s ability to expand its public and federal penetration. Our staff is excited to become part of the Bowman team and to access the many professional development programs and career growth tracks Bowman offers their employees.”
The Company expects the Fisher acquisition to contribute approximately $5 million of annualized net service billing before revenue synergies and be immediately accretive. Financed with a combination of cash, seller notes, and equity, the acquisition falls within previously discussed target multiple and operating metric ranges. More detailed information on M&A activities, pipeline, and guidance updates will be provided in connection with scheduled quarterly and annual communications.
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 1,650 employees and more than 70 offices throughout the United States, Bowman provides a variety of planning, engineering, geospatial, construction management, commissioning, environmental consulting, 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.
About Fisher Engineering, Inc.
Fisher Engineering, Inc. was established in 2007 with the aim of offering clients a responsive, personal solution to fire protection engineering services. Fisher strives to provide customized, high-quality fire protection engineering services to clients across the country and abroad. Fisher employs an accredited team of registered fire protection engineers with advanced degrees in fire protection engineering. With offices and personnel in Atlanta, Baltimore, Charlotte, Detroit, Portland (ME), Phoenix, Southern California and Virginia Beach, Fisher is well positioned to access project sites throughout North America and internationally. For more information on Fisher Engineering, Inc., their projects, and services, visit www.feifire.com.
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