ENGINEERING TECH

Capital Construction and Maintenance Support Field Services Company AMECO Spun Off From Fluor Corporation

AMECO, One Equity Partners | June 11, 2021

AMECO, one of North America's leading construction and maintenance field services planning and management companies, was recently spun off by its parent company, Fluor Corporation. The company, which is headquartered in Greenville, S.C, with field operations throughout the United States and Canada, was purchased by middle market private equity firm One Equity Partners (OEP) for $73 million.

For more than 70 years, AMECO has managed and provided indirect products and services, including equipment, scaffolding, tools, consumable supplies and fleet management for capital construction, facility operations and maintenance projects on a global scale. Taking an integrated and collaborative approach to project management, AMECO is the premier company providing complete, packaged solutions to the industry. As an independent organization, AMECO will bring its world-class expertise to bear for a larger range of customers throughout the United States and Canada to enhance efficiency, increase craft productivity, streamline billing and supply chain management and reduce costs for large projects and ongoing maintenance needs.

AMECO has assembled a strong senior management team comprised of long-tenured construction and maintenance executives, including many former and present AMECO team members, to lead the organization. Gary Bernardez, who led AMECO from 2001-2012, will serve as chief executive officer.

About AMECO
As a field services company, AMECO delivers unique solutions for efficient planning and management of indirect construction products and services throughout the project life cycle to the construction and maintenance markets in the U.S. and Canada. Headquartered in Greenville, S.C., AMECO serves owners and contractors on capital construction projects and in ongoing facility operations with an emphasis on energy, chemicals, mining, biotech, manufacturing and infrastructure end markets.

About One Equity Partners
One Equity Partners (OEP) is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015.

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ENGINEERING TECH

Tamarack Grove Engineering Selects Unanet for CRM to Help Manage Customer Pipeline

Unanet | May 26, 2022

Unanet, the leading provider of project-based ERP and CRM for the architecture, engineering and construction (AEC) industry, announced today that Tamarack Grove Engineering, a leading structural engineering and design firm with more than 2,500 projects each year throughout North America, has selected Unanet CRM AEC. Tamarack Grove expects Unanet CRM to enable widespread collaboration across project teams that will grow the business by potentially doubling their current customers and prospects. Tamarack Grove Engineering is a Boise-based structural engineering and design firm that specializes in manufacturing, commercial, and facilities markets including fast food restaurants and grocery chains. It also specializes in natural disaster evaluation, restoration, and maintenance for facilities. As a Unanet ERP AE customer for approximately three years, Tamarack Grove found that as they continued to rapidly grow, they needed a CRM solution to effectively manage existing and new client relationships, and provide visibility into the company's project pipeline to help shape strategic direction and understand the resources needed for potential projects. "Unanet ERP had positively transformed our productivity and profitability over the last three years. When we realized that we outgrew our rudimentary CRM system and needed a robust CRM solution, we immediately looked at Unanet, Unanet has already provided huge value to us on the ERP side, and the CRM had received positive reviews from other AEC firms. Now our ERP and CRM tools will be integrated in one, easy-to-access solution and we have a platform that we are all familiar with." Duncan Robertson, director of business development and marketing at Tamarack Grove Engineering Tamarack is implementing its CRM quickly, which is another advantage Unanet offers over competitive products. Once implemented, Unanet will give Tamarack a variety of benefits it needs to succeed in growing its business including the ability to: Simplify and coordinate new leads and existing client data entry and management through Microsoft Outlook Easily scan in the company's vast, incoming new contacts and leads through the business card scanner feature Manage customer relationships and information around projects to effectively direct teams, partners, and resources More than 1,850 architecture, engineering and construction companies like Tamarack Grove Engineering select Unanet ERP and CRM because they have the right mix of functionality and accessibility, while also offering the ability to scale and grow seamlessly. About Unanet Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for Government Contractors, architecture, engineering, construction, and professional services. More than 3,400 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. For more information, visit www.unanet.com. About Tamarack Grove Engineering Tamarack Grove Engineering is a Boise-based, leading structural engineering and design firm with more than 2,500 projects throughout North America. The company specializes in manufacturing, commercial, and facilities markets. For more information, visit www.tamarackgrove.com. Founded in 2003, the company's mission is to serve clients by providing responsive, safe and trusted solutions with the highest quality, most dependable engineering and design services while providing an environment for its team members to grow.

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CONSTRUCTION

Construction Procurement Platform Agora Announces Rebrand to Kojo, Expands into All Major Trades

Kojo | May 24, 2022

Kojo the construction industry's leading procurement platform, formerly known as Agora announced its new name and expansion of its platform to every major trade, including mechanical, concrete, drywall, roofing, flooring, and self-perform general contractors. Kojo also shared that it has grown its annual recurring revenue by 4x year-over-year. "The construction industry has been overlooked by tech for too long. By expanding Kojo's solutions to every major construction trade, we can now help even more contractors solve problems that are critical to their businesses, Our mission is to make it faster, easier, and more sustainable to build the world around us, and I'm so proud of what our team has built to empower contractors in such volatile times." Maria Rioumine, co-founder and CEO of Kojo With more than $300 billion spent on construction materials annually in the US, Kojo is helping contractors grow more resilient against the extreme volatility in materials prices and supply chain disruptions of the past few years. In just the last year, Kojo launched new products that help contractors manage their warehouse inventory, reconcile invoices, and track their job progress against estimates. Using Kojo's RFQ feature, contractors can quickly check material prices and availability across thousands of vendors, saving 3-5% per order or the equivalent of hundreds of thousands of dollars per year. In the field, Kojo decreases the time supervisors spend managing materials by up to 38% - an average of $175,000 in annual productivity gains. For office teams, Kojo automates manual data entry, shortening the time to process each purchase order by up to 75%, the equivalent of $124,000 in savings per year. "Kojo's solutions completely changed how our team manages our supply chain, which is a life saver given current constraints," said John Mraz, owner of Einheit Electric Construction Co. "By just using Kojo's Request For Quote feature, I would say we're achieving 10-20% in material savings. The money we save through Kojo allows us to invest further in our team, grow our business, and focus on what we do best – build." Last August, Kojo announced its $33 million Series B funding round led by Tiger Global, with additional key investments from 8VC, Tishman Speyer, Jerry Yang, Michael Ovitz, LeFrak, and Kevin Hartz, bringing total funding to $45 million. About Kojo Kojo is the leading materials procurement platform for trade and self-perform contractors across the country. By connecting office teams, field crews, and vendors on one all-inclusive procurement platform, Kojo gives contractors control over their procurement process from takeoff to closeout, enabling them to improve profitability, productivity, visibility, and standardization across their organization.

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ENGINEERING TECH

eInfochips Showcases AI Inferencing at the Edge Solution at Embedded World 2022 with Qualcomm

eInfochips | June 15, 2022

eInfochips, a leading provider of product engineering services, said it will showcase its AI inferencing at the edge solution, developed in collaboration with Qualcomm Technologies, Inc., at Embedded World. The key components of eInfochips' edge solution comprise a camera for video capture, edge computing for face detection, and Amazon Kinesis Video Streams (KVS) for live streaming and alert generation. Amazon KVS makes it easy to securely stream video from connected devices to AWS for analytics, machine learning (ML), playback, and other processing. The AI inferencing at the edge solution leverages eInfochips' Camera Reference Design Kit (RDK), built on the Qualcomm® QCS610 platform. The solution demonstrates eInfochips' capabilities across camera design, edge AI, and IoT. It also showcases the premium high-performance Qualcomm® QCS610 processor's capabilities for delivering on-device edge AI for advanced applications, including smart kiosks, industrial IoT, AI surveillance cameras, AI edge appliances, and more. Global product and technology companies can leverage our solution to accelerate the development and prototyping of vision-based intelligent connected solutions. In addition to working with Qualcomm Technologies to help empower developers with cutting edge IoT solutions, eInfochips also helps companies implement accurate, highly scalable, reliable, and cost-efficient vision-based IoT solutions that leverage state-of-the-art infrastructure." Parag Mehta, chief business development officer at eInfochips Embedded World is an event is to discover the innovations of the embedded sector and meet experts. The event offers the entire spectrum – from components, modules and complete systems to operating systems, hardware and software and services. The event will be conducted in person at Nuremberg, Germany between 21 - 23 June 2022. About eInfochips eInfochips, an Arrow Electronics company, is a leading provider of digital transformation and product engineering services. With over 500-plus products developed and 40 million deployments in 140 countries, eInfochips continues to fuel technological innovations in multiple verticals. eInfochips accelerates time to market for its customers with its expertise in IoT, AI/ML, security, sensors, wireless, cloud, and power. With collaborations across the technology spectrum, eInfochips has developed reference platforms and industry-specific solutions to enable next-generation product development and transformation.

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CONSTRUCTION

Extracker raises $7 million Series A to expand Change Order platform for construction

Extracker | June 09, 2022

Extracker, the construction industry's only change order communication platform, which digitizes manual workflows and creates financial transparency between construction stakeholders, has raised $7 million in an oversubscribed Series A. Leading the round is Cloud Apps Capital Partners, joined by the construction tech veterans at Building Ventures, and follow-on investment from Jackson Square Ventures who led the Seed round in June 2021. Joining the board are Andy Stinnes, general partner at Cloud Apps Capital Partners, and Jesse Devitte, co-founder and general partner at Building Ventures. Stinnes, who led the investment round, has seen this network model first hand. Even in the challenging investment environment, he sees an exceptional opportunity in the construction technology SaaS platform. "Extracker can emerge as an industry utility in global construction, connecting all the players as the backbone for modern, mobile collaboration to unlock over $20 billion in shared value. We have personally seen this very model play out in both the supply chain and B2B payments markets and know how incredibly valuable and irreplaceable such Industry Utility SaaS companies will become." Allen Preger, Building Ventures Partner and construction technology veteran, understands the issue and opportunity after years solving construction workflows as co-founder at Newforma. "Change orders can make or break a project and put at risk the trust between contractors, owners, designers and subs. Extracker promotes a collaborative versus combative approach to change management; and has demonstrated it can sell and deliver tangible value to each stakeholder in the process. We're excited to back Cameron and the Extracker team, and we can't wait to see where they take it from here." Technology trends such as 3D design are reshaping the future of construction. With a shift towards faster, more iterative project delivery, the industry is at its breaking point with the current tools available including paper, spreadsheets, email and siloed financial software suites. The industry is still tracking 99% of over $150 billion in project Change Orders on paper, email and static spreadsheets, and Extracker is already addressing a massive pain point in commercial construction. Since its inception, they have helped contractors efficiently process and eliminate surprise costs on over $2.2 billion in Change Orders and T&M Tickets. Regardless of what financial software a Specialty Contractor, General Contractor or Owner is using internally, Extracker keeps everyone on the same page in real-time. Using their cloud-based COR Log, Subcontractors can send CORs and have them instantly appear in their General Contractor's account. Contractors now have a shared source of truth to ensure their internal forecasts align with their project partners. Extracker customers are experiencing the benefits of a centralized platform for tracking Change Orders between all project stakeholders and as a result see upwards of 95% faster time to process and close out extra work. Over the past year, they have doubled their paying customers and are proud to have built a platform that supports construction companies of all sizes and across every single trade vertical, including industry leaders like: BrandSafway (scaffolding), Conco (concrete), Performance Contracting Group (drywall), Permasteelisa (glass and glazing), NOVO (general contracting), and BuildGroup (general contracting). At Extracker, we are finding innovative ways to better equip our customers with the tools they need. With this new round of funding, we are expanding our integrations to the industry's most popular project management and accounting systems like Procore, CMiC and Sage, which seamlessly sync CORs and T&M Tags into all stakeholders' systems-of-record. Given the speed and accuracy of Change Order information being collected in our platform, we are excited about the powerful reporting and analytics engine that will harness never-before-captured data our industry leading customers are collecting about their projects." Cameron Page, founder and CEO of Extracker About Extracker Extracker's mission is to create financial transparency between commercial construction companies by reducing exposed risk and time spent tracking extra work. This is done through the industry's only Change Order Communication Platform, which supercharges extremely manual workflows and connects companies outside of their internal financial software to resolve Change Orders in real-time. Along with a collaborative cloud-based log, Extracker includes digital Time and Material Tags, standardized Change Order Templates, trackable Change Notifications, and more, to organize and streamline the process. Extracker is backed by leading enterprise application and construction technology investors Cloud Apps Capital Partners, Building Ventures, and Jackson Square Ventures.

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Spotlight

Mott MacDonald and our clients are involved in tackling many of the planet’s most intricate challenges. ITN's reporter went along to find out the type of work our young engineers carry out, in two key areas: power and railways.

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