ENGINEERING TECH, CONSTRUCTION

Bernhard Capital-Backed RailWorks Corp. Expands Specialized Rail Infrastructure Solutions With Acquisition of H&H Engineering Construction

RailWorks Corporation | August 24, 2022 | Read time : 03:11 min

Bernhard Capital News
RailWorks Corp. ("RailWorks" or "the Company"), the leading North American specialty construction and maintenance rail contractor, announced today it has acquired H&H Engineering Construction ("H&H"), a rail maintenance and construction contractor for the Western United States providing services for transit, ports, freight railroads, and rail served industrial companies. 

The transaction follows RailWorks' recently completed acquisition of Progress Rail's Rail Welding Services Division, a specialized provider of flash butt welding ("FBW"), enabling RailWorks to utilize best-in-class FBW capabilities and offer rail customers expanded maintenance of way services. Financial terms of these transactions were not disclosed.

RailWorks provides comprehensive specialty railroad construction and maintenance services, which include track construction, turn-key rehabilitation and maintenance, and innovative solutions for predictive track maintenance. The integration of H&H will strategically expand RailWorks' presence on the West Coast with a best-in-class team of professionals serving a diverse base of rail customers. As part of the RailWorks team, the H&H teams will be able to leverage FBW crews and equipment from the Rail Welding Services Division, leading to additional incremental growth opportunities.

RailWorks is a portfolio company of Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, which it partnered with in November 2021 to drive long-term strategic growth and expand its core offerings and capabilities.

"This is an exciting time for RailWorks. These complementary acquisitions represent a significant expansion of our offerings and the ways in which we can service our valued customers across the country, As we continue to grow our business and execute on a shared vision with our partners at Bernhard Capital, we see a number of exciting opportunities to further expand our offerings and continuously enhance the safe, high-quality services customers expect from RailWorks."

-Kevin Riddett, RailWorks President and CEO.

In addition to executing on its strategic growth objectives, RailWorks has also remained committed to expanding its industry-leading commitment to safety. In May 2022, the company announced a partnership with Miller Ingenuity's ZoneGuard product line, a roadway worker protection system to detect track vehicles entering active work zones, provide advanced technology to the RailWorks portfolio, and improve overall roadway worker protection. Through this partnership, RailWorks is expanding the Company's commitment to a safety-first culture and working to accelerate safety technology adoption throughout the North American rail market.

"RailWorks' services are essential to supporting a critical mode of transportation for much of the country's population, These acquisitions and our new technology partnership solidify RailWorks' position as the industry leader for rail system maintenance, repair, and construction services. We are excited to continue to work closely with Kevin and his exceptional team to further expand the company's technology offerings and solutions-oriented approach, while maintaining RailWorks' commitment to its customers and to employee safety."

-Mark Spender, Partner at Bernhard Capital.

About RailWorks Corporation:
Founded in 1998, RailWorks Corporation provides track construction, electrical systems construction, maintenance services and products throughout the United States and Canada for major transit authorities, Class I and short-line railroads, and rail-served commercial and industrial companies. Trusted RailWorks brands include L.K. Comstock Inc., PNR RailWorks, NARSTCO, and HSQ Technology. 

About Bernhard Capital Partners:
Bernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. Bernhard Capital Partners has deployed capital in four funds across several strategies, has approximately $2.9 billion of gross assets under management and is ranked as one of Private Equity International's 300 largest private equity firms worldwide. Bernhard Capital Partners seeks to create sustainable value by leveraging its experience in acquiring, operating and growing services and infrastructure businesses.

Spotlight

This paper addresses the current hindrances that civil engineers are facing in the architecture, engineering and construction industry today, and gives insightful tips to help overcome them. Topics covered include repurposing content and collaboration, keeping industry standards in the forefront of one’s mind, and increasing design iterations through online simulation.

Spotlight

This paper addresses the current hindrances that civil engineers are facing in the architecture, engineering and construction industry today, and gives insightful tips to help overcome them. Topics covered include repurposing content and collaboration, keeping industry standards in the forefront of one’s mind, and increasing design iterations through online simulation.

Related News

ENGINEERING TECH, CONSTRUCTION

Assignar Kicks Off Expansion Plans with Launch into the UK Construction Market

Assignar | September 30, 2022

Assignar, the global leader in cloud-based construction operations software, today announces the expansion of its business operations into the United Kingdom. Assignar’s initial expansion will target the heavy civil, excavation, demolition and rail sectors. The company is designed to bring all construction operations under a single view, making it particularly effective for highly regulated verticals. The platform allows contractors to remain compliant and safe in their operations with real-time visibility and communications across multiple projects. “Assignar was designed from a boots-on-the-ground perspective because it’s the solution I needed for my contracting company, Contractors don’t need a hands-off management system. They need a tool they can take into the field that solves for common operational problems. And that’s what Assignar is purposefully designed to do.” -Sean McCreanor CEO Assignar. Construction in the UK has experienced impressive growth in recent years, and experts predict the industry to grow an additional 14% in 2022 alone. Additionally, the recent passing of the National Infrastructure and Construction Pipeline will funnel an additional £650 billion into the industry over the next ten years. In recent years, the software provider has partnered with numerous UK-based contracting companies for their operations in Australia. Continued success with these clients, along with strong similarities between the nations’ construction markets, made this expansion a natural next step. The company aims to get a sample size of UK customers by the end of 2022 and will expand the team from there. “It’s really exciting to be on the ground as we begin to expand our presence in the country and look to bring improved operations to the construction industry, I’ve been reaching out to local contractors and people from my time working as a civil engineer. They’ve responded with a lot of excitement, especially in the traffic management and highway sectors. From my own experience, I know the UK market is more than ready for the tools offered in the Assignar platform.” -Mark Milner, a Senior Account Executive at Assignar. London is a fantastic place to scale a global tech business, said Laura Citron, CEO of London & Partners. That's why we're delighted to welcome Assignar to London this October and are thrilled they have chosen to grow their team and operations in our thriving ecosystem. I look forward to seeing how Assignar will continue to go from strength to strength in providing safety and compliance for the UK's construction sector. About Assignar: Assignar is the global leader in cloud-based construction operations. Its platform helps self-perform general and subcontractors improve productivity and operations, such as labor, crew and equipment management, resource-loaded scheduling, field data, timesheets, and more. Assignar works with hundreds of customers, ranging from multinational, multi-billion-dollar companies to specialist contractors with as few as five crews. Assignar’s customers operate in infrastructure, road, rail, civil, utilities and other construction disciplines. The company has offices in Denver, Colorado and Sydney, Australia and is backed by Tiger Global, SecondQuarter Ventures, Fifth Wall, Ironspring Ventures, Our Innovation Fund (OIF) and Tola Capital.

Read More

PRODUCTS, CONSTRUCTION

Trimble Acquires B2W Software to Expand its Civil Construction Portfolio

Trimble | September 15, 2022

Trimble (NASDAQ: TRMB) announced today it has acquired privately-held B2W Software, a leading provider of estimating and operations solutions for the heavy civil construction industry. Financial terms were not disclosed. With the passage of the Infrastructure Investment and Jobs Act (IIJA) and other infrastructure legislation across the globe, construction organizations are fast tracking the digitization of their processes and operations. As infrastructure projects become increasingly complex, data-driven insights and analytics will be imperative to improve productivity, increase efficiency and drive sustainability. "Seamlessly connected workflows are key to unlocking the true potential of an organization's data, With the acquisition of B2W, Trimble will be able to provide an unparalleled end-to-end digital experience—connecting the digital to the physical—for heavy civil and infrastructure contractors." -Elwyn McLachlan, vice president of Trimble's Civil Solutions Division. The addition of B2W's comprehensive suite of pre-construction and operations capabilities will expand Trimble's already extensive civil infrastructure portfolio and Trimble Construction One, a purpose-built connected construction management platform. B2W's integrated suite of applications includes estimating, scheduling, field tracking, equipment maintenance, data capture and business intelligence. By combining these capabilities with Trimble's rich field data, project management, finance and human capital management solutions, civil contractors will be able to bridge the gap between office and field in new ways, promoting transparency, efficiency and ultimately profitability. "B2W has helped thousands of heavy civil contractors increase their bid accuracy and operational efficiency, And now with Trimble, we can realize the next chapter of our story. By linking the planned with the executed, we will provide civil contractors with a truly connected construction experience, unlocking valuable new insights for our customers across their entire operation." -Paul McKeon, founder and CEOB2W. B2W will be reported as part of the Buildings and Infrastructure segment. Perkins Coie LLP acted as legal advisor to Trimble. Piper Sandler & Co. acted as a financial advisor and Foley Hoag LLP acted as legal advisor to B2W Software. About B2W: Headquartered in Portsmouth, New Hampshire and founded in 1993, B2W (formerly known as Bid2Win) provides specialized software for heavy civil construction management. Companies throughout North America and several other countries use B2W Software to bid on large-scale infrastructure and commercial projects, plan and manage operations, maintain large fleets of equipment and leverage business intelligence. About Trimble: Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation.

Read More

ENGINEERING TECH, CONSTRUCTION

Intelliwave Technologies Releases Enhanced SiteSense® Integrations with Procore® Financials and Field Productivity Modules

PROCORE | September 12, 2022

Intelliwave Technologies, a global leader in providing digital solutions for construction materials management and tracking, is proud to announce a significant expansion of the integration available between SiteSense and Procore Technologies, a leading global provider of construction management software. This integration continues to strengthen the strategic partnership between SiteSense and Procore by providing additional value to mutual customers utilizing leading construction technology tools in one ecosystem. Intelliwave Technologies was formed in 2007 to increase "Time on Tools" for craft labor productivity and improve overall site safety in construction. The result was the creation of a revolutionary web and mobile-based software solution in one encompassing brand, SiteSense. SiteSense's integration with Procore's Directory, Financials, Quality and Safety and Field Productivity modules allows construction teams to effectively close the loop for vendor payment for commitments along with defect management, while tracking material, tools, assets, and equipment consumption from one project to another, with support from the existing directory from Procore during these transactions. This enhanced integration builds on SiteSense's previous integration releases with Procore to provide teams additional touchpoints to further connect the office to the field, driving project performance more effectively. SiteSense and Procore customers can now: Utilize Directory records during field transactions: Directory entries in Procore now sync to SiteSense as workers, crews, and jobs to assist with auto populating contact information, company names and e-mails but can also provide support scanning site badges for materials, tools, assets, and equipment handover transactions. Manage Delivery Defects with Observations: Defect tickets created during receiving of materials, tools, assets, and equipment transactions in SiteSense sync to Procore as Non-Conformance Observations to ensure the defect is reviewed and resolved with the vendor. Types of defects that can be logged in SiteSense include Unacceptable, Overage, Shortage and Damage (UOS&Ds). Support the 3-way match for Commitments: SiteSense Receiving Reports sync to Procore as Commitment Invoices to remove communication issues when closing the loop for jobsite deliveries of materials, tools, assets, and equipment to ensure trust with vendors and continued deliveries. Financial Consumption of Resources: SiteSense Issue Tickets for consumption of materials, tools, assets, equipment, and consumables sync to Procore as one of three options, Change Event, Time and Materials Ticket or Direct Cost to ensure cost is either re-captured through or properly allocated to a project budget that is consuming the goods. Advanced Project Mapping: Added support for 1-1, 1-many or many-1 Procore to SiteSense Projects to support custom Warehousing and Inventory Management use cases. Developer Managed Service Account Configuration: Upgraded set-up of the integration from legacy Service Accounts to the new Developer Managed Service Accounts (DMSA) that drastically reduces the time required to set-up the integration between SiteSense and Procore. The two-way integration between Intelliwave SiteSense and Procore provides considerable value to our shared clients, We look forward to providing new and prospective clients our enhanced best-in-class integration for inventory control, supply chain and materials management for all types and sizes of construction projects." -Dale Beard, CEO of Intelliwave. The SiteSense integration with Procore provides a connected network of leading construction technology tools that can help: Reduce administration costs by up to 10% Craft labor productivity improvement by up to 16% Reduce material bulk purchases by up to 40% "SiteSense by Intelliwave can help reduce data entry errors, transit time, and receipt capture for payment to vendors," said Micah Senen, partner manager at Procore. "The new enhancement to the integration reaffirms how vital SiteSense is for AEC companies looking to bridge the gap between their office and field teams and achieve maximum project performance. By syncing directory entries, defect tickets, and commitment invoices from Procore to SiteSense, we continue to achieve our mutual goal of connecting everything and everyone in construction." ABOUT INTELLIWAVE TECHNOLOGIES: Intelliwave Technologies provides the world's most comprehensive materials management digital solution for construction projects. SiteSense Cloud and Mobile Software enables construction crews to make more informed decisions with accurate real-time information on material status and availability. ABOUT PROCORE: 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. Our platform connects every project stakeholder to solutions we've 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 our platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe.

Read More