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.
Exyte | November 17, 2022
Exyte, a global leader in the design, engineering, and delivery of high-tech facilities, has announced that funds affiliated with BDT Capital Partners, LLC ("BDT") have entered into an agreement to acquire a significant minority interest in Exyte. BDT, a merchant bank that provides advice and long-term capital through its affiliated funds to help family- and founder-led businesses pursue their strategic and financial objectives, will become a minority shareholder of Exyte alongside Georg Stumpf, Exyte's current sole owner who will retain a majority stake.
"Exyte is a leader in the design, development, and delivery of the world's most sophisticated manufacturing environments. The company plays an indispensable role enabling clients across semiconductor, biopharma, life sciences, and cloud computing industries to create best-in-class facilities where technological breakthroughs happen. Due to the strong leadership of Exyte's management team and the dedication of its talented employees in serving the needs of its clients, the company has an impressive track record of profitable growth. We look forward to partnering with Georg Stumpf and the Exyte management team to help continue and enhance the company's growth and impact."
-Don McLellan, Partner at BDT.
Georg Stumpf, Exyte's continuing majority shareholder, says: Exyte serves the most technically demanding customers in thriving markets. The company is a driving force behind important megatrends of today and tomorrow, as well as developments that will profoundly change individual and societal life and promote progress across digitization and connectivity, e-mobility, sustainable energy, digital health, and personalized care. Since I invested in the company in 2008, Exyte has exceeded all expectations and the company will again achieve record sales and results in 2022. I look forward to continuing to support Exyte's successful strategy and its future growth together with BDT.
"Our clear focus on high-tech industries is paying off. Due to the favorable market outlook and Exyte's focus on semiconductors and batteries, biopharma and life sciences, and data centers, we are well positioned in our markets and successfully on our "Pathway to Ten". This year, too, we will exceed our forecasts with targeted sales of around 7 billion euros, putting us closer to our goal of reaching 10 billion euros in sales in 2027. With our successful ongoing projects and significant project pipeline, we are well positioned for future profitable growth. I am pleased that BDT is convinced of Exyte's potential and prospects and will accompany us on our journey."
-Dr. Wolfgang Büchele, CEO of Exyte.
The closing of the transaction is subject to customary regulatory approvals. Financial terms were not disclosed. Deutsche Bank served as financial advisor to Exyte in connection with the transaction.
Exyte is a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for high-tech industries. With cutting-edge expertise developed over more than a century, we serve clients in the sophisticated markets of semiconductors, battery cells, pharmaceuticals, biotechnology, and data centers. Exyte offers a full range of services from consulting to managing the implementation of turnkey solutions with the highest standards in safety and quality to our customers worldwide. We create a better future by enabling key industries to enhance the quality of modern life. In 2021, Exyte generated sales of EUR 4.9 billion with around 7,400 employees worldwide.
About BDT & Company:
Established in 2009, BDT & Company is a merchant bank that provides advice and long-term capital through its affiliated funds to help family- and founder-led businesses pursue their strategic and financial objectives. The ﬁrm works with the owners and leaders of these closely held businesses to ﬁnd creative solutions to their most complex issues, while also providing access to its world-class network. The ﬁrm's affiliate, BDT Capital Partners, has deployed more than $30 billion in capital through its investment funds and co-investments by its global investor base.
EarlyBirds | November 24, 2022
EarlyBirds.io, builders of the Open Innovation Ecosystem, is pleased to announce that they and their platform can assist with transitioning the building and construction industries to Net Zero carbon emissions, to effectively limit the impacts of climate change on the world.
Currently, the construction industry is responsible, directly or indirectly, for nearly 40 percent of global CO2 emissions from fuel combustion and almost 25% of greenhouse gas emissions overall. Construction has an outsized impact on global warming because many of the common materials used in modern buildings, such as cement and steel, can be very energy intensive to produce. On top of that, there’s also the energy load of heating and cooling buildings which accounts for 6 percent of global emissions. Because the design of a building and the materials used to build it are an important factor in the amount of energy required to heat or cool that building, it is important for the construction industry to consider not just the impact of construction but also the impact building design will have on ongoing operating costs and energy use.
Of course, transitioning buildings to Net Zero Carbon Emissions isn’t just about building new buildings, as new buildings are necessarily more energy resource intensive than existing buildings. The work of making buildings climate friendly will create opportunities to retrofit existing buildings as well as ensuring new construction generates minimal emissions. Increasing demand for sustainable retrofitting solutions for existing buildings will put pressure on manufacturers and installers of low emission building material and green building systems to track and improve their energy use. The first companies to move into green engineering and performance are likely to be big winners, and EarlyBirds wants to help companies in the construction and building space think about how to make their work more planet-friendly. Companies focused on adopting new technologies and integrating them into their work are known to EarlyBirds as Early Adopters. Such organizations can find information about how they can use EarlyBirds to find innovative technologies to reduce carbon emissions in their work here: https://earlybirds.io/en/early_adopter. With the building industry, including construction, materials, equipment and operations, expected to grow by 38 percent by 2030, many new value pools are being created and the competitive landscape is being reshaped.
The World Economic Forum outlines that tackling the challenges in the construction industry, both in terms of building materials and in new construction industry, both in terms of building material used in new construction and improving energy efficiency of buildings in use, will be crucial to reach the goals of Paris Agreement. By changing the way our supply chains work and stimulating innovative public procurement, we can accelerate innovation, extend product lifecycles and significantly change the way we build for a circular and climate-neutral future.
The United Nations Sustainable Development Goals encourage nations and businesses to adopt inclusive and sustainable industrialisation, together with innovation and infrastructure to unleash dynamic and competitive economic forces to generate employment and income. This includes promoting new technologies, facilitating international trade and enabling the efficient use of resources. EarlyBirds enables this innovation by connecting organizations with engineers, designers, and others who are creating the innovations needed to achieve net zero carbon emissions and reach the Sustainable Development Goals.
By creating innovation maps of the construction and building industry ecosystem and linking these to net zero goals and the circular economy supplies a fundamental building block for planning projects towards greater sustainability. These maps can be created with EarlyBirds award winning platform and services. EarlyBirds innovation maps are populated with the innovators from across the world including startup, scaleup and mature companies. The maps are updated in near real time and change in accordance with emerging industry trends and issues. These are created using subject matter experts and drawing on data from over 4 million global innovators.
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.