Construction Partners | December 05, 2022
Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, today announced that it has acquired Ferebee Corporation, a full-service hot-mix asphalt and paving company headquartered in Charlotte, North Carolina. With three hot-mix asphalt plants in the greater Charlotte/Rock Hill metro area, Ferebee provides asphalt contracting services for a variety of public, commercial and residential projects.
Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "We are pleased to welcome Ferebee Corporation to the Construction Partners family of companies, expanding our geographic footprint into western North Carolina. As a platform acquisition, Ferebee creates another engine for growth driven by a talented and experienced team under the leadership of Chris and David Ferebee. This new platform company will capitalize on opportunities from the rapid growth occurring in the greater Charlotte/Rock Hill markets and surrounding areas. Through our two platform companies in North Carolina, we are now better positioned to serve the infrastructure needs of one of the fastest growing states in the country."
Smith concluded, "Consistent with CPI's long-established consolidation growth strategy in the Southeast, this investment expands top-line revenue growth, drives margin expansion and increases relative market share. The Ferebee acquisition, coupled with our recent strategic sale of Daurity Springs Quarry and entry into the Nashville area, expands our operations into two fast growing markets while maintaining the Company's 2022 fiscal year-end leverage ratio. Additionally, we expect both of these new operations to be accretive to earnings in this fiscal year."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across six southeastern states. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminal, the company focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.
BrandSafway | December 13, 2022
SafwayAtlantic by BrandSafway, was selected by AECOM Tishman to provide an eight-car personnel and material hoist complex for the 1,388-foot, 60-story JPMorgan Chase global headquarters at 270 Park Ave., New York. The common tower and hoist complex masts will have a total weight and impact load of 6,500 kips (6,500,000 lbs.) and hang from pinned connections pushed through steel plates welded to building columns on two floors. (No ground loading was permitted due to Metro North train tracks running below ground level.)
Previously, AECOM Tishman selected SafwayAtlantic to provide services for the demolition of the old 52-story, 700-foot JPMorgan Chase headquarters, located at the same address. Demolition and new construction started in 2020, proceeding simultaneously, and both had ground-loading limitations and other challenges.
“We have a long-time relationship with AECOM Tishman. We listened closely and worked hard to design new solutions for every phase of these unique projects, We custom- fabricated numerous solutions, including a four-car hoist for the demolition, shoring, ground protection, overhead protection, needle beam platforms to support three levels of scaffold during demolition, scaffold ties, edge protection, a debris shoot, the eight-car hanging hoist complex and the world’s longest hoist car.”
-Keith Lynch, president, SafwayAtlantic.
Virtually every step required out-of-the-box thinking, says Tanya Charlesworth, professional engineer and director of engineering for SafwayAtlantic. AECOM Tishman trusted us with creating first-of-a-kind engineering approaches, and the value to both our businesses is immeasurable. Even in congested urban environments and with extremely tall buildings, we can devise solutions that enable demolition and construction teams to work safely and efficiently.
Shoring and debris removal
The old and new JPMorgan Chase headquarters occupy the full city block between Park and Madison Avenues and 47th and 48th Streets. Metro North tunnels run underneath three sides of the building (only the Madison Ave. side sits wholly on bedrock). Further, these tunnels were completed in 1875 and some of the structural steel elements have thinned and delaminated. As a result, no loading is allowed on the street above the tunnels. Even then, the tunnels needed shoring to withstand the increased construction traffic. SafwayAtlantic engineered and custom fabricated shoring, some of it using high-strength steel to meet a capacity requirement of 130 kips.
SafwayAtlantic also fabricated two ground protection platforms rated for 600 PSF and a 20 kip point load to support the trucks and debris bins that removed a total of 81,600 tons of debris. The platforms tied into the old building’s steel columns (to eliminate ground loading); and a ramp enabled trucks and debris bins to roll on and off the platform.
Innovative solutions facilitate demolition
To demolish the 700-foot-tall tower of the old headquarters, SafwayAtlantic erected Systems™ Scaffold around it’s 500-foot perimeter. Because scaffold legs cannot support 700 feet of weight, SafwayAtlantic installed needle beams on the 41st, 29th and 16th floors to create a cantilevered scaffold platform with a 300 PSF load rating.
Other innovations that facilitated demolition included fabricating a steel debris shoot and fitting it inside an old elevator shaft. Instead of the traditional cable and orange netting on the exterior of the building, the contractor used BrandSafway’s RAPID-EPS edge protection system, a vertical debris shielding system made from lightweight aluminum panels attached to compression posts. The panels remove and reinstall easily as demolition progresses, which reduces waste compared to plastic netting. For contractor access to all levels of the old tower, SafwayAtlantic installed a four-car hoist.
World’s longest hoist cars
To facilitate moving the new building’s curtain walls (aluminum-framed, triple-paned glass panels for the building exterior), SafwayAtlantic worked with RAXTAR to design two dual-mast hoist cars that measure 25 feet long by five feet wide by nine-and-a-half-feet high. They can carry loads of up to 10,000 lbs. at speeds up to 300 fpm. They are the longest hoist cars in the world and feature Designed Access’s EZ call system, which provides call-to-floor buttons. A loading dock television display shows hoist location at all times, and cloud-based software books hoist times to reduce overall downtime on the job site. The hoist complex will also use six conventional hoist cars with a 7,000-lb. capacity, as well as a mast climber from Hydro Mobile, another BrandSafway company, affixed to the outer masts of the common tower and positioned above the hoist cars. Access crews use the mast climber to erect each successive story of the common tower. It improves scheduling efficiency and eliminates interference with construction crews using the hoist cars. Construction of the hoist complex began in March 2022, and it will remain in place until 2025, the scheduled completion date of the new headquarters.
SafwayAtlantic by BrandSafway delivers comprehensive world-class access solutions in New York, New Jersey and Chicago as well as on the West Coast. From new construction and skyscrapers to high-rise buildings and historical renovations, SafwayAtlantic safely and efficiently provides a full range of access products and services for complex urban-area projects.
With a commitment to safety as its foremost value, BrandSafway provides the broadest range of solutions with the greatest depth of expertise to the industrial, commercial and infrastructure markets. Through a network of 360 strategic locations across 30 countries and more than 40,000 employees, BrandSafway delivers a full range of forming, shoring, scaffolding, work access and industrial service solutions. BrandSafway supports maintenance and refurbishment projects as well as new construction and expansion plans with unmatched service from expert local labor and management. Today’s BrandSafway is At Work For You® — leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive.
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.
Green Canopy NODE | December 02, 2022
Green Canopy NODE is pleased to announce the launch of its first crowdfunding campaign, now available for investment to the public on StartEngine. The Seattle-based construction technology, real estate development, and fund management company has long believed that investment in private companies should be democratized. Launching this campaign allows everyone, not just institutional or accredited investors, to invest in revolutionizing the construction industry to build more sustainable, healthy homes faster.
"We are excited about crowdfunding because it gives more people an opportunity to be a part of transforming how homes are built while at the same time offering real positive social and environmental impact for our communities and the planet, When individuals with normal incomes align their values to their investments, they become direct participants in positive transformation with us –they become impact investors for a better world."
-Co-CEO Aaron Fairchild.
Green Canopy NODE is raising capital to scale its technology development with innovative construction products that simplify construction while boosting productivity – building faster and more sustainably. The company leverages its integrated construction ecosystem, proving product-market fit on-site through its certified green real estate development pipeline and real estate funds.
In 2023, Green Canopy NODE plans to install millions of dollars worth of utility and structural products on site and develop a new region of expansion across the US – selling to other developers and builders directly and through channel partners with its configurable product catalog.
"Our roadmap is clear – we're here to scale healthy and sustainable homes from everyone, Given the labor and supply shortages, traditional homebuilders simply can't produce enough. It's time to revolutionize the industry, and we see our integrated construction ecosystem as the model required for scale."
-Co-CEO Bec Chapin.
The vertically integrated company is also an experienced fund manager. Green Canopy NODE Capital has successfully launched and managed four real estate funds and is soon to launch its pioneering fifth fund on mass timber. Learn more about Green Canopy NODE's offering and how to invest at www.startengine.com/greencanopynode.
About Green Canopy NODE:
Green Canopy NODE is an integrated construction technology, real estate development, and fund management company. Over its history, it has sought to embrace the innovation required to change the current paradigm of housing development and deliver on its commitment to help regenerate communities and environments. The company works with its clients and investors to develop high-performing, deep green, all-electric, and healthy housing.