CONSTRUCTION

BMS CAT Acquires Highland Construction

Blackmon Mooring & BMS CAT | August 19, 2022 | Read time : 02:07 min

BMS CAT News
BMS CAT is proud to announce the acquisition of Highland Construction. Highland has three operating locations in eastern North Carolina – the main branch is in Fayetteville, with facilities also in Raleigh and Wilmington. This acquisition gives BMS CAT four operating branches covering the state of North Carolina, including Charlotte. Highland has been in business since 1981, and provides residential and commercial services for mitigation and reconstruction.

"BMS CAT is pleased to announce our strategic acquisition of Highland Construction. We have viewed the North Carolina marketplace as a key geography in our company's growth strategy. Kenny Strickland has built a tremendous business over the last 41 years, and we are excited to merge our two rich cultures together as one company. By doing so, we will be able to provide the best restoration and construction services to our combined customers. Highland Construction's commitment to quality is exemplified through their remarkable team of employees."

-Tom Head, President & CEO of Blackmon Mooring & BMS CAT.

Highland's partnership with BMS CAT is an incredible opportunity for our employees, our customers, and the areas we serve. It allows us to take on bigger and more complex projects while maintaining our high-quality standards; It gives our team access to even greater professional opportunities; and, it gives our markets even more support when and where they need it most. It's a very exciting partnership, said Kenny Strickland, former President of Highland Construction.

Today's announcement is the eighth in a strategic plan of acquisitions to support BMS CAT growth. The company previously acquired North Carolina-based Diamond Restoration, Michigan-based Jarvis Restoration, Pennsylvania-based FireDEX of Pittsburgh, South Carolina-based CATCON, Pennsylvania-based Mellon Certified Restoration and Florida-based Guardian Restoration.

About Blackmon Mooring & BMS CAT:
Started in 1948 as a furniture and dye shop, Blackmon Mooring has grown to become a leader in each service area it practices – from fire and water restoration to storm damage recovery. The earliest founders of Blackmon Mooring built their business on reliability, quality and superior customer service. In 1981, the company expanded its reach globally with the addition of the BMS CAT division and since then, it has responded to some of the world's most devastating disasters. Today, the company follows the same principles it was founded upon, and always remembers that the customer is the cornerstone of the business.

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CONSTRUCTION

Placer Solutions Joins AXA XL Construction Ecosystem as Preferred Partner

Placer Solutions | November 22, 2022

Placer Solutions, a consulting firm focused on driving change and accelerating technology adoption in construction, today announced a new partnership with AXA XL Insurance, a leading provider of global commercial insurance. Under the terms of the agreement, Placer Solutions will join the AXA XL Construction Ecosystem as a preferred partner in a network of products and services focused on advancing technology adoption, leveraging data to solve customers’ problems, enhancing risk management and supporting business goals. The construction industry is at a crossroads when it comes to emerging technology and new ways of doing work. Historically, the industry has been slow to adopt new tools and technologies and has experienced stagnant productivity as a result. With more agile ways of addressing operational demands using emerging technologies, modern construction firms could achieve productivity gains up to 40 percent, similar to peer industries. Placer Solutions is addressing this challenge by taking a field-first approach that shines a light on field and project organizational networks in construction companies, which improves strategic planning and the tactical implementation of technology solutions. “Placer Solutions has a deep understanding of the construction ecosystem, specifically how the industry’s field-based and project-based nature can make enterprise-wide programs difficult in practice, The greatest technologies in the world are most effective if embraced by the culture of the industry they serve. By partnering with a company like Placer Solutions, we enable our customers to focus on the human element that drives technology adoption, which will result in them having a more robust technology adoption roadmap.” -Rose Hall, Senior Vice President, Head of Innovation, Americas at AXA XL. Placer Solutions has been selected to help support the Construction Ecosystem as an AXA XL-endorsed consulting firm who will work with their construction customers on technology change management. As part of the Construction Ecosystem, Placer Solutions will offer a customized Field Assessment to AXA XL customers, which leverages a proprietary network analysis approach to highlight and profile key groups of individuals in a construction firm’s operations. Previous clients of Placer Solutions have included Top Engineering News-Record (ENR) contractors who have used results from the assessment to improve strategic technology planning and inform product selection. “AXA XL’s leadership in bringing together construction’s fragmented value chain to solve big problems is exactly what the moment demands, We look forward to working with AXA XL’s customers. brokers and other business partners in our shared journey to modernize the industry and deploy new solutions that can address the needs of our industry’s workforce in meaningful ways.” -Nate Fuller, Founder of Placer Solutions. About AXA XL: AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. About Placer Solutions: Placer Solutions is a management consulting firm focused on building high performance teams and improving technology adoption across the construction industry. Experience shows that successful change initiatives require up to 10 percent of an organization’s involvement – in construction, that’s mostly field users and project stakeholders. Placer Solutions’ unique Field Assessment goes beyond usual suspects to surface the embedded leaders and networks of employees who make change initiatives successful in construction. They have one of the largest databases of construction field personas and a network of contractors, suppliers, owners, and technology start-ups to help in their client’s needs.

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CONSTRUCTION

Trimble and Hilti Announce Product Integration to Help Contractors Streamline Tool Tracking and Job Cost Allocation

Trimble | November 09, 2022

Trimble (NASDAQ: TRMB) and the Hilti Group, a global leader providing innovative tools, technology, software, and services to the commercial construction industry, announced today that the Hilti ON!Track asset management system will integrate with Trimble Viewpoint Vista, an ERP solution within the Trimble Construction One suite. The integration is Hilti's first North American integration with an enterprise resource planning (ERP) solution, and provides a solution for unified tool tracking and more accurate, automatic job allocation, giving contractors one source of truth for tracking and managing their tools and equipment. Now instead of having to manually look, call or guess where tools are or how much to invoice based on their use, contractors can more easily track their tools and equipment in one place and automatically know how much—and where—they were used so that an accurate amount of equipment time can be invoiced. This eliminates the need to spend clerical time manually inputting utilization data, and even manually tracking it in the field. "Our research shows that each jobsite loses on average one day per month of productivity due to workers searching for tools. In addition, the contractors end up spending up to 90 hours per month tracking tools: in essence, productivity loss for both workers and contractors due to lack of an effective asset/tool management platform, Hilti ON!Track, the world leading asset management solution, helps eliminate this by tracking tools using field-ready active and passive tags, Bluetooth technology and Gateways. An integration between ON!Track and Viewpoint Vista maximizes the benefits of asset/tool tracking data by automatically providing contractors the information they need to track, allocate, bill and estimate for accurate tool and equipment use." -Michael McGowan, region head and CEO of Hilti North America. The tracking of tools and equipment use and costs in one centralized place better prevents equipment loss and theft. It also eliminates the need to manually enter tool use and costs, which are often subject to double entry and human error. "We know that contractors have a lot to manage already, and that equipment is one of their most important assets, This integration is yet another way we are automating and connecting data for contractors, which streamlines workflows and helps contractors more efficiently deploy their people and assets to build profitable projects." -Lawrence Smith, vice president and general manager of construction management solutions at Trimble. Tracking small tools—whether in repair status, on location or with employees and the associated costs—is one of the most ineffective parts of accounting and internal controls in a construction company, said Maria Lumke, CFO of Waterline Industries, a New Hampshire-based civil general contractor. We have tried many things, including inventorying vans, assigning tools to employees and assigning tools to jobs – to no avail. The product Trimble and Hilti have developed will be a revolutionary step for internal controls and accountability of tools in a construction company. Hilti ON!Track has greatly reduced the 'run to the store and buy what you need' when we already own and have tools nearby, said Keeley O'Brien, president and CEO of O'Brien Co., an Oregon-based general contractor. It takes mere seconds to transfer tools in the field, eliminating excuses about not having the right tools because no one knows where they are. It's made it very easy to inventory, track history, and locate tools and equipment. Connecting Hilti ON!Track to Trimble Construction One is another way Trimble serves stakeholders across the entire construction lifecycle, providing visibility into true project costs and correct resource allocations so they get the right information at the right time to make the right decisions. About HILTI: The Hilti Group supplies the worldwide construction and energy industries with technologically leading products, systems, software and services. With about 32,000 team members in over 120 countries the company stands for direct customer relationships, quality, and innovation. Throughout the United States and Canada, Hilti North America includes more than 3,800 highly trained account managers, engineers and other employees. The headquarters of the Hilti Group is located in Schaan, Liechtenstein and has been since its founding in 1941. The company is privately owned by the Martin Hilti Family Trust, which ensures its long-term continuity. The Hilti Group's strategic orientation is based on a caring and performance-oriented culture and the goals of creating enthusiastic customers and building a better future. About Trimble Construction: Trimble is developing technology, software and services that drive the digital transformation of construction with solutions that span the entire architecture, engineering and construction (AEC) industry. Empowering teams across the construction lifecycle, Trimble's innovative approach improves coordination and collaboration between stakeholders, teams, phases and processes. Trimble's Connected Construction strategy gives users control of their operations with best-in-class solutions and a common data environment. By automating work and transforming workflows, Trimble is enabling construction professionals to improve productivity, quality, transparency, safety, sustainability and deliver each project with confidence. About Trimble: Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation.

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CONSTRUCTION

Michael Baker International Selected by CSX Transportation to Lead Program and Construction Management for the Transforming Rail in Virginia

Michael Baker International | November 18, 2022

Michael Baker International, a global leader in engineering, planning and consulting services, announced today that the firm has been selected by CSX Transportation (CSXT) to lead program and construction management for significant rail enhancement projects as part the Transforming Rail in Virginia (TRV) initiative. The TRV program represents an innovative public/private partnership, which also includes the Federal Railroad Administration (FRA), Virginia Department of Transportation (VDOT), Amtrak and Virginia Railway Express (VRE) commuter rail operator as key stakeholders. This work is being completed in conjunction with the Virginia Passenger Rail Authority (VPRA), the lead state agency for TRV, and encompasses the design and construction of multiple projects between Washington, DC, and Richmond, Virginia, totaling $3.7 billion. "Michael Baker has a history of overseeing rail and transit projects for more than 40 rail carriers throughout the country, providing innovative solutions that enable our clients to achieve their goals and ultimately, enhance the transportation of freight, I am thrilled that the Michael Baker team, supported by Patrick Engineering, is servicing CSXT on this exciting infrastructure project that will transform rail in Virginia, as well as the Rail and Transit Practice at Michael Baker. " -Kirsten Bowen, National Director, Freight Rail at Michael Baker International. Michael Baker will provide program management and construction management services for TRV project delivery over the next 10 years. The firm will serve as owner-representative, collaborating with various design consultants to provide pre-construction and construction phase services including design reviews, project controls and construction management/ inspection for multiple bridges, walls, track and associated infrastructure. A leading supplier of rail-based freight transportation, CSXT operates more than 2,000 miles of track throughout the state of Virginia. VPRA, created in 2020, will gain control of 350 miles of railroad right-of-way and 225 miles of existing track from CSXT as TRV capital investments are completed, enabling expanded passenger rail services. Once Virginia completes construction of a separate passenger rail corridor along this section of track, Virginia and CSXT will benefit from freight-dedicated tracks free of passenger rail traffic. This will lead to enhanced passenger rail service, such as more frequent Amtrak state-supported trains and a near doubling of VRE Fredericksburg Line commuter service to include new late-night and weekend service. About Michael Baker International: Michael Baker International is a leading provider of engineering and consulting services spanning four distinct Verticals: Infrastructure, Design-Build Services, Federal Programs and Services and Consulting and Technology Solutions (CTS). The firm's Practices encompass all facets of infrastructure, including design and civil engineering for diverse bridge, highway, water, rail and transit and aviation projects, as well as planning, architecture, environmental and construction and program management. For more than 80 years, the company has been a trusted partner to clients, providing comprehensive services and solutions, delivering expertise and quality, and embracing emerging technologies and the latest innovations – like intelligent transportation, engineered models and public safety software as a service (SaaS).

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CONSTRUCTION

Jones Street Investment Partners Secures $179 Million in Construction Financing for Three Northeast Multifamily Projects

Jones Street Investment Partners | November 15, 2022

Jones Street Investment Partners, a private equity real estate firm focused on multifamily assets located throughout the Northeast and Mid-Atlantic regions of the U.S., today announced that it has secured $179 million in construction financing to develop luxury multifamily communities in Kittery and Brunswick, Maine, as well as Manchester, New Hampshire. Securing these loans enables Jones Street to expand its portfolio in key secondary markets across the Northeast that are severely supply constrained and have demonstrated consistently strong rental growth. “We appreciate the support of our financing partners, Our ability to secure these loans at attractive terms is a testament to the strength of our relationships, the quality of our business plans and our established track record. Each of these projects aligns with our emphasis on long-term, cash flowing investment strategies that have the potential to deliver attractive risk-adjusted returns. We look forward to ingraining ourselves within each of these communities and delivering exceptional living experiences to our future residents.” -Matt Frazier, founder and CEO of Jones Street Investment Partners. Jones Street secured a $70 million loan from Key Bank as well as a $7.9 million preferred equity investment from a major investment manager to develop Seacoast Residences, a 282-unit multifamily community located at 76 Dennett Road in Kittery. The five-building property, which is situated along I-95 and immediately across the border from Portsmouth, New Hampshire, will feature luxury unit finishes, a resort-style swimming pool, fitness center, dog park, sun deck, and on-site nature trails. Seacoast Residences is located in an area with a limited supply of rental product and is poised to benefit from its proximity to major employment centers. A number of national and regional businesses operate in the New Hampshire and Southern Maine seacoast regions, including Andover Healthcare, Portsmouth Naval Shipyard, CSI Engineering, Northwestern Mutual, and Sun Life Financial, among others. Jones Street expects to complete construction in early 2024. Bangor Savings Bank provided Jones Street with a $36 million loan to develop an amenity-rich, 181-unit multifamily community in Brunswick. Located on Admiral Fitch Avenue in a Qualified Opportunity Zone, the property sits within the Brunswick Landing Development, a former naval base that is being revitalized and includes nearly 2 million square feet of commercial and industrial space. Ideally situated three miles from downtown Brunswick and within 30 minutes of downtown Portland, which is experiencing sustained rent growth, the property is expected to benefit from the strong employment market. A number of major regional and national employers, including L.L.Bean, VividCloud and General Dynamics Bath Iron Works, as well as top-ranked Bowdoin College, operate in the area. The property is expected to be completed by the fourth quarter of 2024. Jones Street secured a $65.1 million loan from Berkshire Bank to develop a 250-unit multifamily community in downtown Manchester. Located at 75 Canal Street within a Qualified Opportunity Zone, the property will consist of studio, one-, two- and three-bedroom apartments and approximately 2,000 square feet of ground-floor retail space. It will also feature an array of amenities including a clubhouse with a full-service kitchen and game room, fitness center, business center and two outdoor courtyards. Manchester boasts low unemployment rates, high affordability and strong economic growth. This has translated into high occupancy and consistently strong rental growth. Major employers in the area include Oracle, TD Bank, New York Life and Southern New Hampshire University. Jones Street expects construction to be completed in the summer of 2024. About Jones Street Investment Partners: Jones Street Investment Partners is a privately held real estate investment management firm focused on multifamily investments located in the Northeast and Mid-Atlantic regions of the United States. Formed in 2014, the Boston-based firm is an opportunistic and disciplined value-based investor focused primarily on the management of long-term, cash-flowing investment strategies and drawing on the capabilities of affiliate Jones Street Residential for asset and property management. Aligning an institutional-quality investment and operational approach with the economic and strategic interests of its investors, Jones Street is a trusted source of investment opportunities for its capital partners. Jones Street’s portfolio consists of 4,389 apartment units with approximately $1.3 billion of current assets under management and $360 million of equity invested.

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