ENGINEERING TECH

ToolWatch Announces Strategic Investment from The Riverside Company

ToolWatch Corporation | June 25, 2021

The Riverside Company, a global private equity company, has invested in ToolWatch Corporation, a major supplier of tool and equipment monitoring and operations management software for the construction, utilities, and oil and gas sectors. The investment prepares ToolWatch for rapid development and enables it to maintain its position as the construction industry's first and most complete operations management solution. Today, businesses all around the globe use ToolWatch to handle over 39 million tools and supplies.

Riverside associate vice president Chris Shea highlighted ToolWatch's capacity to assist clients in resolving critical issues in preconstruction planning, logistics, and throughout the supply chain as reasons for the company's decision to invest in ToolWatch. "We view construction software as a highly promising development sector. While still in its early stages of technological adoption, the construction sector is seeing a rise in software tools to manage complex operations and essential processes better. ToolWatch is well-positioned to understand the specific requirements of its clients and offer purpose-built solutions as the pioneer in introducing technology to the construction site."

ToolWatch's value proposition has always convinced customers in the construction sector to adopt technology solutions for operations management. ToolWatch products have evolved from barcodes to RFID chips, Bluetooth low-energy, and interconnectivity; expanded integration with other software platforms; and modernized to a fully cloud-based, real-time, enterprise-wide operations and production management system praised for its ease of use on the job site and in the back office.

In addition to providing capital to enhance product development and customer support, the Riverside funding will be used to seek complementary add-on acquisitions to extend the product range and provide solutions for ToolWatch's client base.

About ToolWatch Corporation
ToolWatch has been assisting businesses in managing tools, equipment, materials, and consumables for over 25 years. ToolWatch, which is simple to use and provided through a powerful, flexible platform, securely saves vital information on all warehouse and field operation assets, allowing organizations to manage their operations more efficiently, cost-effectively, and profitably.

Spotlight

Overall construction costs are forecasted to increase an additional 2-3% in 2018, and that’s after what we’re expecting to be a 3% increase in 2017. Construction labor costs will lead these increases, which are forecasted to be in the 3-4% range in 2018. However, labor shortages continue to be a challenge for the industry due to a lack of skilled labor, stricter government policies around immigration, and the inability to recruit the younger generation.

Spotlight

Overall construction costs are forecasted to increase an additional 2-3% in 2018, and that’s after what we’re expecting to be a 3% increase in 2017. Construction labor costs will lead these increases, which are forecasted to be in the 3-4% range in 2018. However, labor shortages continue to be a challenge for the industry due to a lack of skilled labor, stricter government policies around immigration, and the inability to recruit the younger generation.

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ENGINEERING TECH

Eagle Point Software Acquires UK-Based KnowledgeSmart

Eagle Point | August 26, 2021

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MECHANICAL AND MOTION SYSTEMS

GA Telesis Expands its Tooling and GSE Distribution Business Through New Agreement with Makro Aero

GA Telesis & Makro Aero | December 30, 2021

GA Telesis, LLC (“GAT”) announces the expansion of the Flight Solutions Group (“FSG”) tooling and ground support equipment business with a three-year agreement to become a global distributor of aircraft access stands, platforms, and maintenance & painting docking systems with Turkish-based Makro Aero. The new distribution agreement will cover sales to customers worldwide to ensure their MRO facilities have the right equipment for the planned growth of aircraft maintenance activities undertaken over the next five years.The agreement further develops FSG’s Tarmac Solutions’ support of airlines and MRO facilities ensuring front to back end support on maintenance activity in the sector. With engine green-time management flourishing, and airframe maintenance visits doubling over the next five years, the new support contract will enable customers to further rely on GA Telesis for maintenance infrastructure and engine handling ramp up. “We are excited to partner with Makro Aero as they bring an important new product line to our growing aftermarket distribution offerings,With the overall growth of MRO activities scheduled over the coming years, we are positioning our product offerings to match the needs of our customers. Having Makro onboard now provides FSG and our customer base with an even greater level of engine management options as well as front-end airframe maintenance support choices,” -Jason Reed, President of the Flight Solutions Group. Makro Aero welcomes the worldwide distribution agreement with GA Telesis. I believe this agreement has great potential to extend our businesses beyond our reach, and we will achieve our five-year growth target, cementing our leading position in our product line. We are proud to partner with GA Telesis,” said Levent Ondogan, General Manager of Makro Aero. About GA Telesis GA Telesis is the leading provider of integrated services in the commercial aviation industry. Through the GA Telesis Ecosystem™, the Company is distinctly positioned, across six continents, to leverage its resources to create innovative solutions for its customers. Consisting of global operations encompassing Component Solutions, Leasing/Financing, Logistics Solutions, and MRO Services business units for landing gear, component/composite, and turbine engine repair, as well as digital solutions, the GA Telesis Ecosystem™ provides an unparalleled resource to airlines. The Company’s core business is its mission to ensure “Customer Success,” built from a reputation for unsurpassed excellence and integrity.For further information, please get in touch with Cathy Moabery at marketing@gatelesis.com. About Makro Aero Makro Aero is an engineering and manufacturing company with a concentration in aviation. The company designs, manufactures, and delivers Aircraft Access Stands and Docking Systems, MLG and NLG Removal and Installation Tools, Carts, and Trolleys suitable for apron and hangar use for Narrowbody, Widebody aircraft, Regional and Business Jets, and Helicopters. Makro Aero retains in-house design capability and offers standard and customized equipment depending on customer needs. Design parameters are premised on delivering cost-effective and efficient solutions to meet the daily operational challenges of the aviation industry.

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ENGINEERING TECH

Hillmann Consulting, LLC can now accelerate growth and provide Construction Services in the Northwest Region

Hillmann | March 15, 2021

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