Colliers | August 08, 2022
Leading diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today it has acquired a controlling interest in PEAKURBAN Pty Limited (“PEAKURBAN”), one of the fastest growing engineering companies in Australia. The PEAKURBAN senior leadership team will remain significant shareholders of the business under Colliers’ unique partnership model. The business will rebrand as “Colliers Engineering & Design” and integrate into Colliers’ existing Australian operations. Terms of the transaction were not disclosed.
Founded in 2016, with more than 100 professionals operating from five offices in Australia, PEAKURBAN specializes in shaping communities with a focus on planning, due diligence, and engineering and design services for residential and mixed-use developments, civil infrastructure, water and wastewater, and industrial sectors.
“Building on our continued success in the U.S., PEAKURBAN represents the first international acquisition for our Colliers Engineering & Design business, Our differentiated approach continues to attract best-in-class firms who value our unique partnership model and long-term growth horizon, and who wish to thrive within our decentralised model and enterprising culture.”
-Elias Mulamoottil, Co-Chief Investment Officer of Colliers.
The expansion of Colliers Engineering & Design into Australia will complement our existing Project Management and Strategic Advisory capability and enhance our service offerings to unlock opportunities and accelerate growth for our clients and people, said John Kenny, CEO Colliers Asia Pacific. PEAKURBAN’s values and culture align strongly with ours and we are delighted to welcome these talented professionals to our organisation.
"Joining one of the most respected professional services organizations globally is an important step for us, Our reputation for developing commercially smart and practical engineering and planning solutions, combined with Colliers’ deep infrastructure, enterprising culture and impressive performance over many years, will help create the best outcomes for our clients and people.”
-Brent Thomas, Co-Founder and Managing Director of PEAKURBAN.
Colliers is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $77 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people.
ConstructConnect | June 29, 2022
Billd, the leading provider of material financing and pay app advancement for commercial trade contractors, today announced a partnership with ConstructConnect, a portfolio of software and services that combines a builders network, robust project data, and takeoff tools for construction professionals. This partnership will enable subcontractors using ConstructConnect to more easily secure approval on financing for projects. Combined, these services increase bid confidence and competitiveness, allowing trade contractors to take on more projects and grow their businesses.
With this partnership, Billd's premier financing offerings are now readily available to trade contractors as they assess and bid on new projects. This allows trade contractors to plan their financial strategy for each project, reducing the risk of negative cash flow, which can be disruptive once a project reaches execution. By providing access to upfront cash solutions for materials, approved ConstructConnect customers will be able to lock in crucial materials as soon as projects are won, mitigating financial risk from unpredictable market fluctuations in cost and project delays from increased lead times.
"Subcontractors have long struggled to gain access to working capital to maintain and grow business through traditional financial institutions, Our partnership with Billd informs subcontractors about the opportunity to secure material and labor payment financing while they wait for payment on work already completed. This should better position companies that require access to working capital to succeed and grow their businesses."
-Jon Kost, Chief Strategy Officer of ConstructConnect.
Billd has taken major strides in the construction industry to provide financing terms that align with payment cycles. Trade contractors and suppliers are typically the last to get paid, waiting on average over 83 days. A recent US market report from Billd that surveyed nearly 800 contractors found that 66% of contractors pay for materials and 82% pay for labor before receiving payment for their work. Billd works to help alleviate this financial burden through cash flow solutions that allow trade contractors to take on and execute more projects.
"The lack of access to finance resources has shortchanged trade contractors for decades, causing limitations on their ability to maintain healthy cash flow, We're thrilled to bring financial options to more contractors through ConstructConnect's pre-construction portfolio. Together we will increase bidding confidence and support execution."
-Chris Doyle, CEO of Billd.
Billd was started by Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance. Chris and Jesse were inspired to launch Billd to bring the financial power of Wall Street to the construction jobsite, allowing contractors to bypass project hurdles with access to upfront funds while enabling suppliers to sell more materials with less risk. For contractors who usually aren't paid until more than 83 days from purchasing materials, Billd provides 120-day terms so they can stabilize cash flow and more effectively grow their businesses. With a deep understanding of the construction industry, Billd knows traditional credit metrics are poor predictors for risk in this vertical segment and has built a variety of industry-specific proprietary analytic tools to better assess risk in the construction industry.
ConstructConnect is a leading provider of commercial construction information and technology solutions and is committed to transforming the way the construction industry does business by providing its customers the tools, information, and connections needed to drive their success.
DAY & ZIMMERMANN | July 12, 2022
Day & Zimmermann (D&Z), the century-old, family-owned provider of construction, engineering, maintenance, staffing, and defense solutions for leading corporations and governments around the world, announced today that Dominion Energy (Dominion) has selected its Maintenance and Construction business unit as its open shop maintenance and modifications provider at North Anna, Surry, and V.C. Summer power stations. The agreement extends a 42-year-old alliance with Dominion through 2025 with the option to renew for another two years.
As part of this agreement, D&Z will continue providing its industry-leading maintenance services, including outage and on-line electrical, welding and piping, scaffolding, insulation, and painting scopes.
"It's both exciting and humbling to extend our long-term alliance with Dominion Energy, For the past 42 years, we've been able to apply our maintenance and construction expertise in ways that have helped multiple Dominion power stations achieve and sustain excellence in safety, quality, and plant performance. This extended partnership validates our company's commitment to finding innovative solutions for our clients' evolving needs, and we're excited to continue working together now and in the future."
-Ross McConnell, President of D&Z's Maintenance and Construction open shop operations.
Day & Zimmermann Maintenance and Construction helps plant owners in the nuclear power, chemical, and industrial markets lower their total cost of ownership by delivering innovative maintenance and construction services and solutions. The business unit did not experience a single OSHA recordable injury in 2020 or 2021.
"For decades, Day & Zimmermann has helped our plants perform to exemplary standards of safety and reliability. As a result, we've been able to consistently provide reliable, affordable, clean energy to our customers, who count on us every day for their energy needs, We'd like to thank Day & Zimmermann for their continued support and are excited to extend this partnership."
-Dan Stoddard, Senior Vice President and Chief Nuclear Officer Dominion Energy.
ABOUT DAY & ZIMMERMANN-
When you've been around for more than a century, you know a thing or two. At Day & Zimmermann, we take our lifetime of experience and make things better. Our 51,000+ employees help bring big ideas to life every day. We're pushing the boundaries of innovation in construction & engineering, operations & maintenance, staffing, and security & defense. And that's not all. Did we mention that we have 150+ worldwide locations with $2.7 billion USD in annual revenue? We put people to work, we protect American freedoms, and we help our customers power and improve the world. We do what we say®.