CONSTRUCTION

Deltek and AIA Introduce a New Solution for Architects to Build Better Projects

Deltek,AIA | June 18, 2021

Deltek, the leading global provider of software and solutions for project-based enterprises, and AIA have announced that Deltek Specpoint, a new solution for the AEC sector, will be available in September. The solution is an all-in-one specification and design automation tool that will serve as AIA MasterSpec's new home. With its unique approach to specification authoring and the industry-proven content provided by MasterSpec, Specpoint will assist architects and engineers in reducing risks and improving project outcomes.

Deltek and the AIA have a long history of collaboration and leadership in the architecture and building design industries, beginning with MasterSpec, a product developed by The AIA for its members. The two companies collaborated to offer MasterSpec and software solutions that provide architects with the greatest tools for specifying building products and materials.

Recognizing the need for architectural and engineering firms to improve project efficiency, Deltek and AIA have collaborated to provide extensive online building product research and selection content and a simplified specification design and publishing tool.

Deltek Specpoint, the home of AIA MasterSpec, is a cloud-based software system that will change how product manufacturers, architects, and engineers interact. Users will intelligently explore and select products, write specs efficiently, and create project manuals to deliver successful projects.

About Deltek
Better software means better projects. Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries worldwide rely on Deltek for superior levels of project intelligence, management, and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue.

About AIA
Founded in 1857, AIA consistently creates more valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through more than 200 international, state, and local chapters, AIA advocates for public policies that promote economic vitality and general wellbeing.

AIA provides members with tools and resources to assist them in their careers and business and engage civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation, and world. Members adhere to a code of ethics and conduct to ensure the highest professional standards.

Spotlight

By 2017, it is expected that the majority of ad buying and placement in the U.S. will be automated. Machines will bid out ad space and other machines will buy it. Already, more than two-thirds of digital advertising is automated, rising to almost three quarters in 2017. Since almost all job advertisements today are digital, the rapid and full-on automation of recruitment advertising-programmatic recruitment advertising (PRA) is inevitable.

Spotlight

By 2017, it is expected that the majority of ad buying and placement in the U.S. will be automated. Machines will bid out ad space and other machines will buy it. Already, more than two-thirds of digital advertising is automated, rising to almost three quarters in 2017. Since almost all job advertisements today are digital, the rapid and full-on automation of recruitment advertising-programmatic recruitment advertising (PRA) is inevitable.

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ENGINEERING TECH

Fidelity Launches Portfolio Quick Check, Expanding Portfolio Construction Solutions for Advisors

Fidelity Institutional | May 18, 2022

Fidelity Institutional, the division of Fidelity Investments dedicated to providing technology, solutions and insights to wealth management firms and institutions, today announced the expansion of its suite of portfolio construction solutions with the launch of Fidelity Portfolio Quick Check (PQC). This free, fully digital tool builds upon the access Fidelity Institutional® offers its advisors, allowing them to now analyze and compare investment strategies in minutes to manage portfolios more efficiently. The launch is the latest example of Fidelity’s commitment to continually invest in technology and tools to meet the changing needs of client and customer needs. Through on-demand scenario planning and analysis of portfolio composition, performance, fees and risk, advisors can discover new opportunities to improve investment strategies and demonstrate the benefits of actively managing investments to their clients. PQC has been in pilot with 300 wealth management firms since the end of 2021 and is now available to all Fidelity Institutional clients. According to a recent Fidelity study on advisor investment decision-making, client risk tolerance (83%) and unique needs (74%) are the top determinants of an advisor’s portfolio construction strategyi. By providing a less time-intensive option than its manual counterparts, PQC helps advisors personalize experiences for investors. It can also help advisors navigate the challenges associated with today’s market environment by providing quick insights that help them make more informed decisions aligned to economic activity. “As advisors look to navigate the challenges created by headwinds in today’s global macro markets, our PQC offering allows them to instill an industrial portfolio construction framework that is scalable and personalized, We are drawing on Fidelity’s 75-plus-year history of money management and technology leadership to provide a tool that not only helps advisors improve their outcomes, but also frees up time for advisors to have more meaningful conversations with their clients on life goals and fulfillment.” Mayank Goradia, head of investment product and portfolio analytics for Fidelity Institutional PQC delivers a multi-level analysis on portfolio composition and performance attribution, packaged neatly as a customized report for investors. The analysis includes: Portfolio Observations, providing qualitative insights into improving a client’s and an advisor’s portfolio and alignment to robust Fidelity thought leadership for more details that can help guide client discussions Fixed Income Analysis, Fidelity’s proprietary evaluation of holdings-based data for uncovering hidden exposures, as well as opportunities across sectors, credit quality diversification and fixed income characteristics Equity Analysis, enabling portfolio comparisons to the 11 commonly recognized Global Industry Classification Standard (GICS) sectors by style and market cap, as well as geography and equity characteristics Performance & Risk, evaluating 3- and 5-year performance statistics, comparing Sharpe ratio measures (risk-adjusted returns), observing market participation and reviewing the overall correlation between individual securities Historical Market Events, insulating portfolios from unnecessary risks by analyzing performance in hypothetical and previous market conditions Asset Allocation, seeing how assets compare to the benchmark an advisor sets for their client’s portfolio by region, asset class, management style and at the fund level. Portfolio Quick Check enhances Fidelity’s mission of bringing portfolio management to scale, expanding access, and creating more efficiency for advisors. It joins Fidelity’s suite of portfolio construction solutions, including one-on-one consultations and custom model analyses that advisors can request through their Fidelity wholesaler or relationship manager. About Fidelity Investments Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $10.5 trillion, including discretionary assets of $4.0 trillion as of April 30, 2022, we focus on meeting the unique needs of a diverse set of customers. Privately held for over 75 years, Fidelity employs more than 58,000 associates who are focused on the long-term success of our customers.

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CONSTRUCTION

The JF Petroleum Group Acquires Dykstra Construction, A Premier Florida General Contracting Firm

Dykstra Construction | February 08, 2022

The JF Petroleum Group, a MidOcean Partners portfolio company and the premier provider of fueling system solutions in North America, announced that it has acquired Dykstra Construction. Headquartered in Plant City, Florida, Dykstra Construction is a commercially certified, multi-industry contractor specializing in commercial and convenience store construction and petroleum equipment installation and repair. The acquisition of Dykstra Construction will strengthen The JF Petroleum Group’s Southeast Region’s market leadership position in the petroleum equipment industry and enhance its ability to serve customers by adding additional turnkey services to its retail and commercial construction offerings. Keith Shadrick, CEO of The JF Petroleum Group, stated, “Given the growing demand for construction services throughout our Southeast and Gulf Coast Regions, this acquisition will significantly enhance our ability to provide best in class turnkey construction solutions to our customers. We will also enhance the offerings and capabilities that Dykstra Construction has today through organic growth and additional bolt-on acquisitions, delivering a greater value proposition to their existing client base. Dykstra Construction is widely recognized in the state of Florida for its exceptional quality, expertise in fuel system design and installation, general contracting and their additional wide range of service offerings that are in high demand. We are proud to welcome Darry Dykstra and the employees of Dykstra Construction to The JF Petroleum Group family!” I look forward to continued growth in our industry, as well as the opportunity to work with The JF Petroleum Group to branch out into new sectors offering clients a truly turnkey experience. This is a great environment for employees of Dykstra Construction to thrive.The JF Petroleum Group is a great fit for us moving forward given our trusting relationship and shared values. Barrett Gilmer, Managing Director at MidOcean Partners, stated, “The acquisition of Dykstra Construction is yet another demonstration of our commitment to building the North American petroleum equipment industry’s leading solution provider in The JF Petroleum Group. Additionally, this acquisition expands the robust service offering we offer today in one of the nation’s leading high growth market areas.” -Darry Dykstra, founder of Dykstra Construction. About JF Petroleum Group The JF Petroleum Group (formerly Jones & Frank) is a leading provider of turn-key distribution, construction and service solutions to the North American fueling infrastructure industry. The company serves retail fueling stations, commercial and government fleets, and emergency power customers through its network of 40 branch offices, 4 distribution centers and over 1,200 employees located across the United States. The JF Petroleum Group represents the premier products in the fueling infrastructure marketplace, including Gilbarco Veeder-Root, VeriFone, OPW, Franklin Fueling and Containment Solutions. To learn more, visit www.jfpetrogroup.com. About MidOcean Partners MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.

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ENGINEERING TECH

Cook & Boardman Acquires National Millwork

Cook & Boardman Group | January 05, 2022

The Cook & Boardman Group LLC ("Cook & Boardman" or "C&B"), the nation's leading distributor of commercial door entry solutions and security integration services has announced the acquisition of Riviera Beach, FL-based National Millwork (NMI). Terms of the transaction were not disclosed. National Millwork was founded in 1998 by Otto Nonnenmann and Michael Bosco with the goal of becoming a full service door, hardware and millwork company that would be both supplier and subcontractor to the construction industry. With a focus on manufacturing the highest quality doors and a commitment to installing everything they manufacture, NMI has experienced tremendous growth and expansion. In 2015 NMI expanded its geographic reach and distribution capabilities with the acquisition of Elite Door & Trim in Denton, TX (which is included in the transaction). Today the company operates full hollow metal, door, key & hardware shops; manufactures and installs pre-hung, pocket, bypass and exterior doors, clubhouse and lobby finishes and interior trim and mouldings. NMI also supplies and installs Division 10 specialty products, including commercial bathroom partitions and washroom accessories. "NMI fits perfectly into our strategy of offering total opening solutions, and I am excited to welcome them to the Cook & Boardman family. Their manufacturing capabilities and installation services will allow us to deliver an even greater value proposition to our customers on multi-family and commercial construction projects – including interior pre-hung doors." -Darrin Anderson, Chief Executive Officer of C&B My mission in founding National Millwork more than 20 years ago was to become the preferred, turnkey provider for large residential and commercial projects, noted NMI founder and CEO Otto Nonnenmann, and in Cook & Boardman we found a partner that shares our vision. "Our companies share a common culture and commitment to customer service, and I am confident that NMI will thrive under C&B ownership." The company will continue to operate under the National Millwork name and customer contacts will remain unchanged as a result of the acquisition. -NMI co-founder and COO, Michael Bosco Cook & Boardman is a portfolio company of Littlejohn & Co., LLC. National Millwork represents C&B's nineteenth acquisition since being acquired by Littlejohn in October 2018. About Cook & Boardman Group Cook & Boardman is the premier distributor of commercial doors, frames & hardware and one of the nation's fastest growing providers of integrated security solutions - including physical security, access control, wireless networking, low voltage cabling, audio/visual and managed information technology products. The company serves multi-family and non-residential markets including commercial, education, government, healthcare, office and hospitality sectors from more than 70 locations across 21 states and nationwide through its ecommerce portal at www.cookandboardman.com. About Littlejohn & Co., LLC Littlejohn & Co., LLC is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments primarily in middle market companies. The firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.

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