Congruex | December 17, 2021
Congruex, a national end-to-end provider of design, engineering, construction, and maintenance services to broadband providers, announced the acquisition of Ohio Valley Excavating (OVE), a regional industry leader in commercial excavation. Financial terms of the transaction were not disclosed.
Founded in 2004, OVE services the fiber telecommunications and utility industries with installation and maintenance for underground electrical, communications, pipe, and structural placements. OVE's full-service excavation capabilities span commercial and industrial construction as well as emergency repairs, with experience across the private and public sectors in Ohio and the Midwest.
The addition of OVE will enhance Congruex's service mix and leadership position in key Midwest markets, bring further expertise in the utility space, and bolster its workforce with additional field crews and management personnel. OVE founders and co-owners Lori and Eldon Hallows and Rade Vladicic will remain and serve as senior leaders of the organization.
"OVE's excavation and construction expertise will further expand our underground capabilities as part of turn-key design-build solutions for current and prospective customers in the Midwest. As we continue to bring excellent engineering and construction businesses across the country into the One Congruex family, we are grateful to their leaders and founders, like Lori, Eldon, and Rade, as well as their employee bases for building strong organizations and choosing to partner with Congruex."
-Bill Beans, Congruex's CEO
We are excited to join the Congruex team and look forward to both increasing our services to our customers and providing a quality future for our team," Lori Hallows, CEO and co-owner of OVE, stated. "We see great things on the horizon with this partnership.
Ohio Valley Excavating marks Congruex's seventh acquisition of 2021 and caps the platform's most active year of transactions to date, following Bartell & Associates, Mabeck, Viking Corp, Holborn Splicing, A&M Communications, and Matrix Engineering. Congruex has now completed 16 strategic acquisitions since establishing a partnership with Crestview Partners, a leading New York-based private equity firm with significant expertise in the cable, telecommunications, and business services industries. In 2017, funds managed by Crestview Partners, along with the Congruex leadership team, committed $200 million of equity to build out a new platform as part of what is expected to be a total investment of approximately $500 million. Collectively, these transactions have established Congruex as one of the largest telecom engineering and construction firms in the nation.
Congruex was advised by Berg Hill Greenleaf Ruscitti LLP. OVE was advised by Dinsmore & Shohl LLP.
Congruex was formed in late 2017 by industry executives Bill Beans and Kevin O'Hara, in partnership with Crestview Partners. Congruex brings together leading engineering and construction companies across the U.S. into a harmonized platform with capabilities encompassing network development, engineering, construction, mandated road moves, maintenance and operations. Congruex's customers benefit from the integrated skills that it can offer, either as single disciplines or as a turnkey solution with self-perform capabilities. Congruex's engineering services operate nationwide and its construction services operate in the Midwest, California, and the Southeast. For more information: www.congruex.com.
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $9 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations, and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: media, industrials and financial services. For more information, please visit www.crestview.com.
Michael Baker International | January 24, 2022
Michael Baker International, a global leader in engineering, planning and consulting services, announced that the firm is implementing a new organizational structure to Reimagine Michael Baker, which will better position the company for accelerated growth and broaden its capabilities, services and solutions over the next five years to execute its vision of evolving to become a full-service engineering and consulting firm. This requires the firm's leaders and every colleague to redefine how the firm will protect and grow its core business in Transportation, Bridge, Water, Planning, Construction Services and other areas, while accelerating growth in Federal and dramatically advancing innovative, technology-based solutions. The firm will also attract new clients who benefit from the company's expanded offerings in the consulting space to grow and provide limitless opportunity for colleagues to develop professionally and personally.
To affect this evolution, the company established an Executive Committee (EC) led by Chief Executive Officer, Brian A. Lutes, that will focus on driving the company's strategy of short- and long-term growth objectives. Three newly appointed Presidents join Mr. Lutes and the firm's Chief Financial Officer, Amy N. Davis, to comprise the new EC: Kent Zinn, P.E., S.E., has been promoted to President, Infrastructure James E. Koch, Ph.D., P.E., has been elevated to President, Federal Programs and Services; and Dan Kieny has been named President, Consulting and Technology Solutions.
"Our company's goal is to constantly evolve, grow and improve, and our new organizational structure and enabling strategies reinforce our commitment to Reimagine Michael Baker and partner with our clients to uniquely employ various technology solutions to reinvigorate and reinvent our nation's infrastructure, There are myriad opportunities in our sector, challenged by unprecedented complexities, and we must leverage our capabilities to seize the limitless possibilities ahead."
-Thomas J. Campbell, Chairman at Michael Baker International and Founder and Managing Partner at DC Capital Partners.
Michael Baker possesses long-established relationships with departments of transportation across the country and Federal clients that span its nearly entire 82-year history. The firm has many aggressive avenues for growth with new opportunities within its DATAMARK business, the public safety geographic information systems team within Michael Baker; by leveraging the firm's strong position in the growing broadband infrastructure segment; by capturing more structural engineering projects; by increasing work in Mechanical Electric Plumbing (MEP) and fire protection as well as deepening its portfolio in asset management services, including data processing and analysis, Artificial Intelligence (AI)/Machine Learning (ML), enhancing workflow capability and automation, among others.
"To Reimagine Michael Baker, we will boldly move forward with the goal of serving our clients with expanded offerings, harnessing technology that differentiates the solutions we deliver and providing additional personal and professional growth opportunities for our employees, while continuing to reinvest in new training and incentive compensation,"
-Brian A. Lutes, Chief Executive Officer at Michael Baker International.
The firm will encourage initiative and out-of-the-box thinking and provide better recognition and accelerated advancement for its talented people. The firm's strategic intent to Reimagine Michael Baker will require enhanced collaboration among colleagues across the company and bold thinking and action to emphasize deeper connections with its clients to bring to bear the strength of Michael Baker's international expertise and its trusted local relationships.
About Michael Baker International
Michael Baker International is a leading provider of engineering and consulting services. The firm's Practices encompass all facets of infrastructure, including design, civil engineering, planning, architecture, environmental, construction and program management. For more than 80 years, the company has been a trusted partner, providing comprehensive services and solutions to commercial clients and all branches of the military, as well as federal, state and municipal governments. Embracing emerging technologies and the latest innovations – like intelligent transportation and design-build project delivery – Michael Baker is an industry leader that delivers expertise and quality. The firm's more than 3,000 employees across nearly 100 locations are committed to Making a Difference for clients and communities through a culture of innovation, collaboration and technological advancement. To learn more, visithttps://mbakerintl.com/.
Milrose Consultants | March 02, 2022
Southfield Capital, a premier lower middle market private equity firm, and Milrose Consultants ("Milrose" or the "Company"), a leading provider of building code compliance, fulfillment and consulting solutions, are pleased to announce the acquisitions of McCormick Compliance Consulting ("McCormick") and SF Codes.
McCormick, founded by Casey McCormick in 2016, is an industry-leading construction consulting and municipal permitting firm based in Los Angeles and Chicago. McCormick has earned a stellar reputation in the commercial real estate industry, working exclusively on several marquee buildings in Los Angeles and Chicago. Specializing in mega development, new-build projects, McCormick has facilitated more than $7 billion of high-end commercial construction.
"We're thrilled to welcome McCormick into the Milrose family. This acquisition is a game changing investment for Milrose, as it dramatically accelerates the opportunity to service our national clients in large new markets including Chicago and partner with a firm with incredible talent, experience, and operational excellence. We are certain this combination will pay immediate dividends for our clients and offer our employees continued opportunity to grow with our firm."
-Dominic Maurillo, CEO of Milrose
SF Codes, founded by Thad Adcock in 2012, is a premier real estate consulting and municipal permit services firm based in San Francisco. SF Codes has grown to be the go-to resource for builders, contractors, and owners of real estate in the San Francisco and Oakland areas. Specializing in new-build projects, SF Codes facilitates the construction of both commercial and residential buildings through its pre-construction development, entitlements, planning, and municipal interface services.
We're very excited that SF Codes has joined the Milrose family of companies. The SF Codes team brings additive capabilities and expertise that our nationwide clientele will immediately find valuable. San Francisco and surrounding cities are key to our strategy, and we're excited to offer our world-class services to our existing and new clients in the Bay Area, said Dominic Maurillo.
Wiggin & Dana provided legal counsel to Milrose and Southfield Capital.
Milrose is a leading provider of building code compliance, fulfillment, and consulting solutions to the Class A commercial real estate market. Milrose enables clients to outsource the burden associated with navigating the highly regulated and complex building compliance environment through its diverse portfolio of permitting, code & zoning, regulatory filing, special inspections, due diligence and other compliance solutions.For more information, please visit www.milrose.com.
About Southfield Capital
Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector. The firm targets companies with $4 – 12 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies.
Meta Construction Industry | March 15, 2022
Meta Construction Industry - already launched its native utility token - MCI on Binance Smart Chain blockchain. Basically holding MCI allows investors to hold a stake in a growing business that is runned by experienced specialists that are working in the construction industry for more than 10 years.
Why MCI 1.0 ?
With each passing year, innovative technology is gaining ground in our lives. While working 20 years in the construction industry, we noticed that house designing and detailing takes way to much time. For a building of 200 apartments / oﬃces, the average time cost takes from one year to 3 years before the project is prepared, while the project implementation period itself takes about a year.
Because everything moves forward, the most precious thing in our life is time, so those 3 years is way to much. So, we, engineers had an amazing idea, why can’t design and detailing works be done within a week? With the MCI software thanks to metaverse and blockchain it is possible!! It will be a total revolution in the construction industry. We have put together an excellent team of engineers and programmers who is working on individual and commercial projects at the moment. That’s right, 1 day is enough amount of time to compile basic technical data, and the rest of the work will be done by MCI 1.0 software. The MCI team already has higher expectations as the embedded infrastructure is launched so that it can also be adapted for the installation of roads, engineering networks and much more, but lets start from the begining.
We see very big potential because of the growing market. Also we can justify the statistics which will confirm the fast-growing market for which innovation is essentiall, Oxford Economics estimate the global construction market was valued at US$10.7 trillion in 2020; US$5.7 trillion of this output was in emerging markets. The global construction market is expected to grow by US$4.5 trillion between 2020 and 2030 to reach US$15.2 trillion with US$8.9 trillion in emerging markets in 2030.
Meta Construction Industry launched MCI token with SAAS functionality use under development
We as developers see great potential to increase and improve the technical aspects of this market.
Our main goal:
Our aim is to develop eﬃcient software that can be used by structural engineers in their building design work. This would be a major time-saver in order to obtain the highest quality drawings in the shortest possible time. The system would not only provide static calculations and detailed material extract, but also allow the client to see a 3D model of the planned building, details of the building walls, etc.
This would directly save the main thing we value most - time. That is why we will introduce our product to the construction market - architects, structural engineers and designers will be able to use it. By working with this application, various changes to the building drawings could be made at the same time. This would therefore particularly improve the cost of designing large projects, as the system could be used simultaneously by all project participants.
Meta Construction Industry TEAM:
We are planning to have more than 10 professionals contributing to this project!
The main developers are experts in the construction market with more than 10 years of experience in structural building design. They have defined the main problem of their work by running their own business as the large amount of time wasted in the preparation phase of the design drawings and the 3D view. This is why their idea was born at the beginning of the pandemic and finally saw the light of day after two years of start-up development.
Today, the team is forming a marketing department. The programming team and the UI/UX designers are proving successful. We are trying to group up a large group of enthusiasts and professionals in our team.
Why we launched MCI token?
In order to implement our idea we were looking for a diﬀerent ways to get funded. The most acceptable was Crypto token launch. We set 3 diﬀerent types of tokenomics that will be used for software development and community growth:
6-10% MCI 1.0 Software creation. It will be used to pay for 3d drawings, programming works and all other services that is needed in order to launch the MCI 1.0 software.
2% Marketing That part will be used for organic growth of our community by hiring marketing specialists and influencers that will spread the word about our idea.
3% Liquidity Pool. By setting this up we will assure that after every transaction our token will be more stable.