Construction
Newswire | September 12, 2023
Billd, a leading construction payment provider for commercial trade contractors, and STACK Construction Technologies, a pioneering construction software platform, enhanced their strategic partnership today in a way that will allow subcontractors to accelerate their growth like never before. Billd's financing solutions are now embedded in STACK's Takeoff and Estimating platform, allowing subcontractors to instantly access working capital during preconstruction. The new integration will empower subcontractors to increase bid volume, secure working capital, and strengthen supplier relationships, accelerating business growth without the financial constraints of the industry's broken payment chain.
"We encourage all of our customers to think about working capital availability, and if necessary, financing costs, as early as possible," said Billd CEO and Founder, Chris Doyle. "This integration equips subcontractors to be proactive about project finances and bid, plan, and make promises to customers confidently, knowing that financial backing is readily available."
Supply chain finance has been historically unfair to subcontractors, leaving them footing the bill for materials and labor far before they're paid for their work. Subcontractors wait twice as long as industry peers to be paid, averaging 74 days (almost two and a half months) after starting a project.
By leveraging Billd Connect, Billd's suite of embedded financing apps, STACK will provide access to working capital solutions to their customers while they estimate the cost of upcoming projects. STACK's best-in-class software empowers contractors with accurate and customizable estimates, reducing the risk of underestimating costs and overextending resources. Meanwhile, Billd's material and invoice financing bridge the gap in subcontractor cash flow, reducing the risk of overextending working capital. By providing subcontractors with hyper-accurate takeoffs and estimates along with upfront funds for materials, joint customers can mitigate the uncertainties of payment cycles and bid with confidence.
"The integration of construction technology is no longer a luxury—it's a necessity," said STACK's CEO and Co-Founder, Phillip Ogilby. "The construction industry has been plagued by subcontractors not getting paid on time, leading to disruptions, delays, and stalled growth. Our streamlined takeoff, estimating, and proposal solutions paired with Billd's financing options mean subs can focus on what matters. Taking the guesswork out with accurate estimates and having predictable revenue is a huge win. I wish I had this growth opportunity when I was a roofing contractor."
Subcontractors need financing and they need it early in the process. Billd offers 120-day terms on material purchases, enabling subcontractors to improve their cash flow to take on larger projects, get more estimates out the door, and focus on investing in their long-term plan.
About STACK Construction Technologies
From project evaluation to completion, contractors use STACK's cloud-based software to help run their business and maximize their profits. Our preconstruction solutions enable fast and accurate takeoff and estimating, as well as providing a centralized hub where plans, specs, and other construction documents can be stored, evaluated, measured, and shared. Our construction solutions power real-time field and project collaboration by allowing teams to quickly and easily review, annotate, compare, and share plans, anywhere, from any device. STACK's superior collaboration tools ultimately improve project outcomes and profitability for contractors.
About Billd
At Billd, we provide a payment solution that enables commercial construction contractors to free up cash for material purchases while enjoying the flexibility of 120-day payment terms. You get financing for commercial materials upfront with the freedom to pay it back at your own pace. Learn more about how we can help eliminate your company's cash-flow problems so you can win more bids and grow your business.
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Engineering Tech
YOUNG & ASSOCIATES | September 26, 2023
Property and claims consultants YOUNG & Associates (YA), has acquired the claims and engineering company IN-Line Consulting, LLC. Founded by Matt Watson and Mark Lively more than 16 years ago, IN-Line was formed to manage the consulting work offered by a full-service restoration company operating primarily in the Southeast United States. The move strengthens YA's footprint in that part of the country, solidifying the company's role as a national and international leader.
IN-Line will operate as a subsidiary of YA and its day-to-day operations will continue to be directed by the existing IN-Line leadership team. The company's management and support teams also will remain in place.
"This partnership with IN-Line is a significant step forward in growing our professional service offerings," said Wade Bushman, YA's CEO. "We appreciate IN-Line's diverse base of technical experts, exceptional customer service track record, shared cultural values, and employee-first workplace model. They are a natural addition to the YA team."
IN-Line President Matt Watson explained joining forces with YA allows the company to better serve clients by broadening its resource base and expanding its capabilities nationally and internationally. The move also offers new avenues for personal and professional growth for IN-Line's employees.
"Since our inception, we have focused on building a great team and culture that can best serve the wide-ranging needs of our clients," Watson said. "Now, with YA's resources and platform, we are well positioned to carry that commitment into the future."
ABOUT YOUNG & ASSOCIATES
YOUNG & Associates (www.youngonline.com) is a property consulting firm providing building damage assessments, forensic and investigative consulting services to the insurance industry, public and private sector clients. YA was founded in 1997 by Ray and Linda Young on the core values of knowledge, integrity, and professionalism. Through its 26 years, YA's range of property damage services has expanded, developing a broader client base, and growing the team to almost 600 staff strategically located across the U.S. and internationally.
ABOUT IN-LINE CONSULTING, LLC
IN-Line Consulting, LLC (www.inline.us) is a national construction consulting firm specializing in property damage restoration and reconstruction recommendations for all phases of construction. Historically, IN-Line has been engaged on large, complex losses which require the technical diversity, expertise, and experience unique to our team of professionals. IN-Line's principal services include the preparation of comprehensive and market-specific construction estimates, as well as detailed and practical scopes of reconstruction. IN-Line's other competencies include but are not limited to: cost of repair audits; on-site clerking; code reviews; construction schedule analysis; production efficiency and economy analysis; forensic engineering; and construction defect analysis.
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Engineering Tech
Business Wire | October 10, 2023
Atwell has acquired the operations of Summit Engineering Group, a civil engineering and land surveying firm headquartered in Heber City, Utah. This is Atwell’s first permanent office in Utah, adding to the company’s recent expansion in the western United States. Terms of the transaction were not disclosed.
Founded in 2001 by Brian Balls and Michael Johnston, Summit offers a wide variety of professional and technical services throughout Utah. Their employees have a broad range of construction experience, utilizing design software and data reporting methods that help ensure accuracy, construction feasibility, efficiency, and low construction costs.
“Atwell and Summit place a priority on getting it right the first time, which makes our services and company cultures an ideal fit,” said Brian Balls, Principal at Summit. “Similarly, both companies have strong reputations for expertise, experience, and responsiveness to their clients’ needs. The breadth of Atwell’s services will expand into Utah, providing greater opportunity for our clients.”
“The team at Summit is focused on providing clients with the highest standards of quality, value, and service,” said Jeff French, Vice President of Real Estate and Land Development for Atwell. “We look forward to working with the Summit team and leveraging their decades of experience within their community. We’re very excited to expand our national reach by bringing Atwell into Utah to provide greater service options for our clients.”
Atwell continues to expand its geographic footprint, service offerings, and capabilities through organic growth and strategic acquisitions. Summit is Atwell’s eighth acquisition over the past year. In the last two months, Atwell acquired Mead Gilman & Associates, a land surveying firm located in Woodinville, Washington, and Bay Engineering, a civil engineering, land surveying, and environmental services firm headquartered in Annapolis, Maryland.
About Atwell
Atwell, LLC is a national consulting, engineering, and construction services firm with more than 1,500 professionals located across the country. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, oil and gas, and infrastructure and transportation, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.
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