CONSTRUCTION

UCS Secures Multi-Million Cash Advance for West Coast Construction Company

West Coast Construction | November 28, 2022 | Read time : 02:00 min

UCS Secures News
United Capital Source helped secure one merchant cash advance totaling $9 million for a west coast construction company. The 32-year-old company will use the funds for a government contract it was awarded for the renovation of two city schools.

After receiving the award for the construction contract, the company came to UCS looking for a subordinated line to its current lender. UCS, an online marketplace, worked quickly with the company’s lender and the funder’s legal teams on the language needed in the subordination agreement. The total time to fund the advance was four and a half days.

UCS helped to structure the exact deal required within the timeframe necessary so the company could take advantage of the opportunity they had despite this being unconventional funding. The construction company received an immediate cash advance of $6 million, with another $3 million becoming available in twenty days when the second part of their project starts. The merchant cash advance structure is an estimated 12-month deal that includes aggressive prepayment options from three to six months.

“This is another example of how our marketplace works. We have partnered with best-in-class lenders and funders who can operate quickly and efficiently across multiple products offering the best rates and terms available. Danielle handled most of the deal, and she worked for 4 days straight assisting the legal teams and working back and forth between all parties getting the deal to the finish line in time for the clients.”

-Jared Weitz UCS. 

The structure of the loan is intended to serve as bridge financing, and that’s exactly how the construction company will use it. UCS VP of Sales Danielle Rivelli handled the deal from start to finish.

Danielle’s dedicated service and unique financing structure highlighted UCS’s ability to find business financing options that work for their clients. The construction company acquired the funds to take advantage of the government contract opportunity.

United Capital Source, Inc:
Is a lending marketplace geared towards driving small business growth. .

Spotlight

OneClick BIM is a well established company in India and Dubai which focuses on providing high quality BIM and CAD services to clients in the field of Architecture, Engineering, and Construction through innovative consulting and solutions.

The company provides the clients with one stop solution of Design, Engineering, and Construction. We have the capability to carry out almost all trades of Architecture, Structure, Mechanical, Electrical, Plumbing, Fire Fighting, Project Management, Fabrication and Construction under one umbrella. Thereby giving our customers edge of single point hassle free solutions and advantage over other outsourcing companies.

Spotlight

OneClick BIM is a well established company in India and Dubai which focuses on providing high quality BIM and CAD services to clients in the field of Architecture, Engineering, and Construction through innovative consulting and solutions.

The company provides the clients with one stop solution of Design, Engineering, and Construction. We have the capability to carry out almost all trades of Architecture, Structure, Mechanical, Electrical, Plumbing, Fire Fighting, Project Management, Fabrication and Construction under one umbrella. Thereby giving our customers edge of single point hassle free solutions and advantage over other outsourcing companies.

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CONSTRUCTION

Empire Southwest to Acquire Cashman Equipment

Empire Southwest | November 15, 2022

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ENGINEERING TECH,CONSTRUCTION

Atwell expands into Mid-Atlantic with acquisition of Ben Dyer Associates, Inc.

Atwell | December 05, 2022

In its second transaction this quarter, Atwell has acquired Ben Dyer Associates, Inc., a 60-person engineering firm based in Maryland. Ben Dyer Associates specializes in civil engineering, land planning, and surveying services for land development and redevelopment projects throughout Maryland and the District of Columbia. The terms of the transaction were not disclosed. This acquisition expands Atwell’s reach into the US Mid-Atlantic region and will strengthen Atwell’s ability to support a variety of land development projects, including single and multi-family residential, commercial, and industrial. Ben Dyer is also experienced in the power and energy market, enhancing Atwell’s ability to support solar projects on the east coast. “Atwell and Ben Dyer share a similar business strategy – we guide and advise our clients through every stage of a project from concept to completion, This acquisition supports an expansion into a new region for Atwell and is another meaningful advancement of our long-term strategic growth.” -Brian Wenzel, President and Chief Executive Officer of Atwell. Alignment of culture and values is incredibly important for us, said Steve Mauersberg, President of Ben Dyer Associates. Ben Dyer and Atwell share a joint vision of improving our communities, helping our clients achieve success, and providing opportunities for our employees. The company founder, Ben Dyer, entered private practice as a registered professional engineer and land surveyor in 1935. In 1952, the company was incorporated as Ben Dyer Associates, Inc. Mauersberg began his career with Ben Dyer Associates in 1986. Every president’s career has spanned more than three decades with the company. “We’re excited to welcome the members of Ben Dyer to the team, We believe that Ben Dyer is the right firm for expanding our geographic footprint while continuing to provide expert service to our land development clients.” -Bill Anderson, Vice President of Land Development in the US East at Atwell. Atwell continues to expand its geographic footprint, service offerin-gs, and capabilities through organic growth and strategic acquisitions. Last month, Atwell financed the acquisition of Cross Surveying, a 28-person land surveying firm based in Florida. About Atwell, LLC: It is a national consulting, engineering, and construction services firm with technical professionals located across the country totaling more than 1,400 team members. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, 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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ENGINEERING TECH,CONSTRUCTION

Stantec selected to design the California High-Speed Rail extension from Merced to Madera

Stantec | December 20, 2022

Stantec, a global leader in sustainable design and engineering, has been selected to design the California High-Speed Rail Authority’s extension from Merced to Madera, a key section between Los Angeles and San Francisco. The extension covers 33.9 miles and will include 40 structures. The Merced to Madera design contract is valued at US$41 million, which is expected to be delivered over about two years. Stantec will finalize the project configuration footprint, advance design work to refine costs and travel-time enhancements, and map right-of-way needs and utility relocations. The Merced to Madera section is the key junction that will connect the 500-mile-long project between the Bay Area and Los Angeles. “The California High-Speed Rail Authority has embraced a goal of guiding the evolution of California’s transportation infrastructure into a vibrant, dynamic system that not only achieves an attractive mode of transportation for our communities but serves as an important economic driver within California, We are proud to be part of a better and more sustainable transportation future for California.” -Jose de Jesus Martinez, project/contract manager Stantec. The project will be partially funded by US$25 million in federal funding from the U.S. Department of Transportation under the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) discretionary grant program. “High-speed rail is going to improve the transportation landscape in California, with the potential to impact transportation on a national level, We see the future of transportation as clean, green, and better designed for passengers and communities. California High-Speed Rail is a significant step in the right direction.” -Brian Norris, transportation business line leader Stantec. Stantec has worked with California High-Speed Rail for eight years, including as project/construction manager on Construction Package 2-3. For this project, Stantec will lead a team of local, international, Small Business Enterprise, Disadvantaged Business Enterprise, and Disabled Veteran Business Enterprise firms. Major rail projects at Stantec California High-Speed Rail is one of many large-scale transit projects currently supported by Stantec. The firm is the lead engineer on the US$1.9 billion Long Island Rail Road expansion for the Metropolitan Transportation Authority in New York, which will modernize the busiest commuter line in the United States. In Chicago, Stantec is leading the design of the Chicago Transit Authority’s US$2.1 billion Red and Purple Modernization Program. Stantec was also selected to provide infrastructure engineering, procurement, and construction services on Montreal’s Réseau express métropolitain (light rail network), one of Quebec’s most important public transit projects. In Ontario, Stantec is the technical advisor on the Hurontario LRT and the Ontario Line—both major projects within the province’s CAD$28.5 billion capital investment in transit. About Stantec Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Stantec, we always design with community in mind. We care about the communities we serve—because they're our communities too. This allows us to assess what's needed and connect our expertise, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success. We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.

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