DESIGN, ENGINEERING TECH, CONSTRUCTION

Helios Technologies Signs Definitive Agreement to Acquire Daman Products

Daman Products Company | September 08, 2022 | Read time : 02:02 min

Helios Technologies news
Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, has entered into a definitive agreement to acquire the assets of Daman Products Company “Daman”. Founded in 1976, Daman is headquartered in Mishawaka, Indiana and is a recognized leader in complex manifold design and manufacturing for precision hydraulic manifolds and related fluid conveyance products. Daman products are used in numerous hydraulics applications for industrial and mobile markets including applications in the oil and gas, railroad, construction, agriculture, forestry, mining, material handling, machine tool, robotics, and entertainment industries. Daman is a highly recognized brand with a quality reputation, has leading market share in the standard manifold niche market segment, as well as in custom designed integrated solutions. Sun Hydraulics, a Helios company, and Daman have collaborated for years to create solutions that address customers’ fluid power challenges.

“Adding Daman onto our pure play Hydraulics platform is a clear demonstration of the continued progress we are making with our flywheel acquisition strategy. Daman has established, long-term relationships with a diversified customer base serving multiple end markets. They bring a differentiated value proposition through sophisticated inventory programs that reduce supply chain delays and enable rapid delivery. They also leverage a strong engineering team that works closely with customers and distributors to design custom tailored solutions for a breadth of applications as well as standard manifold designs. Daman is a critical supply channel partner that provides a notable combination of high-quality products with value-added engineering, inventory management, rapid prototyping, and assembly services. With over 300 years of combined experience resident in-house, we expect this acquisition to enhance Helios’ technologies through product integration, enabling further system sale opportunities, and diversification of end markets.”

-Josef Matosevic, Helios’ President and Chief Executive Officer.

About Daman Products:
Founded in Mishawaka, IN in 1976, Daman is a leading designer and manufacturer of standard and custom precision hydraulic manifolds and other fluid conveyance products. Daman is centered on a culture of innovation with new technology and new machinery, and recognition of its highly valued employees and customers. Daman's hydraulic manifolds help power industrial and mobile equipment worldwide. Distributors throughout North America trust Daman’s proven technology and innovative design to deliver standard components, while the company has expanded its custom engineering capabilities to become a leading, single-source, full-range manifold supplier. 

About Helios Technologies:
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine, health, and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997.

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ENGINEERING TECH

The Engineered Stone Group Announces Agreement to Acquire Resiblock

The Engineered Stone Group | October 18, 2022

The Engineered Stone Group (the "ES Group" or the "Company"), announced it has entered into an agreement to acquire the assets of Resiblock S.L., Baniana Bath S.L, and Bold The Solid Company S.L., (together "Resiblock"), a leading Spanish manufacturer of engineered stone and solid surface shower trays and washbasins. The acquisition further establishes the ES Group's position in the engineered stone bathroom products space, a growing segment within the broader bathroom products market. The transaction is expected to close at the end of this month and financial terms were not disclosed. The ES Group is a global leader in the production of engineered stone bathroom products. The Company provides a broad offering of brands and high-quality products, coupled with a commitment to outstanding customer service and the scale to invest in continued product innovation. In addition to Resiblock, the ES Group is comprised of Marmite, Acquabella, F&D Group, Mcbath, Nuovvo, Fiora, MTI Baths and Aquatica. The ES Group is led by CEO Brian McCluskie and was established by The Cranemere Group, a holding company focused on building high-quality businesses for the long term. Resiblock has established a track record of manufacturing high-quality engineered stone and solid surface shower trays and washbasins. Resiblock supplies a diverse base of customers in Southern Europe with particular focus on Spain. Resiblock will maintain its headquarters in Cordoba, Spain, as a member of the ES Group and will maintain its existing manufacturing locations and workforce, while continuing to serve its valued customers as it does today. We continue to see strong demand for engineered stone products in the bathroom as it replaces materials such as acrylic and porcelain. Resiblock's manufacturing capabilities, complementary geographical focus and reputation for value make them a compelling addition to the Engineered Stone Group, said Mr. McCluskie. "We are thrilled to join the Engineered Stone Group, We look forward to partnering with Brian and the team at the ES Group to further invest in product innovation and capacity expansion and to offer a broader portfolio of products and enhanced service levels to our valued customers." -Juan Vacas, Founder and CEO of Resiblock. We continue to see a significant opportunity to lead the material conversion to engineered stone over the long term. Resiblock is an important addition to our Company and enhances the ES Group's position as a leader in this segment, said Christopher Mahan, Chairman of the Engineered Stone Group. About The Engineered Stone Group: The Engineered Stone Group is a European holding company established by The Cranemere Group to be the global leader in engineered stone products. The ES Group is comprised of Marmite, Acquabella, F&D Group, Mcbath, Nuovvo, Fiora, MTI Baths, Aquatica, and now, upon completion, Resiblock. About Resiblock: Resiblock is a leading provider of engineered stone and solid surface shower trays and washbasins in Southern Europe with particular focus in Spain. Based in Cordoba, Spain, Resiblock offers products at outstanding value, quality, and speed. About The Cranemere Group: The Cranemere Group is a holding company focused on partnering with founders and management teams to build industry-leading businesses in essential industries. As a pioneer in professionally managed long-term capital, The Cranemere Group provides experience, expertise and global networks to support the growth of its companies and to create value for all its stakeholders. The Cranemere Group is headquartered in London and has offices in New York and Washington, D.C.

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ENGINEERING TECH, CONSTRUCTION

New Model-Based Workflows, Reality Capture and Extended File Support in Autodesk Construction Cloud Make BIM More Valuable to Construction Teams

Autodesk | September 28, 2022

Autodesk University – Autodesk, Inc. (NASDAQ: ADSK) today announced a suite of new capabilities across Autodesk Construction Cloud, making it easier for construction project teams to use and maximize the value of BIM from the office to the field. The enhancements provide all stakeholders with immediate access to model data and information that's relevant, empowering team members to simplify workflows and make critical decisions faster. Also announced today are significant advancements to Schedule and Cost Management capabilities within Autodesk Build, the comprehensive construction management and field collaboration solution of Autodesk Construction Cloud, aimed at helping customers deliver construction projects on time and on budget. "To stay in command of increasingly complex and demanding construction projects, we need to ensure teams can work from the latest information and quickly make informed decisions, The model is a great source of truth during design and planning, but data isn't easily transferred to construction teams during the build phase of a project. With the new model-based capabilities added to Autodesk Construction Cloud, we can use live Revit data to create assets, tie model properties directly to the assets, and view all the information we need in either 2D or 3D. We're now able to take full advantage of model data to save time across all projects, minimize miscommunication and make smarter business decisions." -James Mize, VDC and digital delivery specialist at CRB Group. Model data made easier for every stakeholder with new Autodesk Construction Cloud releases With the new advancements launched across Autodesk Construction Cloud today, construction teams can get immediate access to and work more easily with BIM data, empowering stakeholders to use model data to identify potential project impacts, operate more efficiently and make better decisions. Model-Based Workflows in Assets – Assets in Autodesk Build are now mapped and visualized in 3D using the latest design model, providing field teams with up-to-date asset tracking and equipment details. This simple automation helps to prevent errors associated with outdated model data and makes it easier to connect assets to RFIs, Submittals, Issues, Schedule, and other workflows. Model Property Breakdown – Massive design files can now be parsed out into more digestible portions by creating custom views of model properties that are relevant to that day's work. Now, customers can simply select or deselect elements including levels, property categories, rooms, disciplines, objects, or a custom property, to create a more readily and easily shareable view of the model. Model Property Breakdown will be available in Autodesk Build, Autodesk BIM Collaborate and Autodesk Docs. Read more and watch a video about this new feature on our blog. Publish to the Field – VDC teams in Autodesk BIM Collaborate can create and share ad hoc views and sign-off models with field stakeholders using a mobile device, all without leaving Autodesk BIM Collaborate. Paired with Model Property Breakdown, these tools remove manual steps, simplify model data for the field, and save time for the entire project. Publish to the Field is currently in open beta. Extended File Support for Mobile – Now customers can use their mobile app at the jobsite to navigate and interact with an expanded list of supported 2D and 3D design file types, including DWGs and 2D RVTs. Reality Capture in Autodesk Construction Cloud – Files from reality capture such as laser scans or photogrammetry can now be brought directly into Autodesk Construction Cloud, enabling VDC teams to record precise measurements, aggregate with other models, identify and resolve issues, take progress snapshots, and provide comprehensive closeout documentation. For example, using reality capture methods like laser scanning or photogrammetry, project teams can create and work with 3D models of existing structures, such as for new builds with existing facades or capturing existing conditions for infrastructure projects, all within Autodesk Construction Cloud. "Design files are packed to the brim with essential data, but each project stakeholder needs something different from the model, The advancements we're announcing make it easier to access model data, removing unnecessary steps and ensuring the latest information is directly in the hands of those who need it, whether they're in the office, the trailer or out in the field. Autodesk is empowering our customers to truly connect design to construction and drive tight collaboration across the entire project lifecycle." -Ilai Rotbaein, senior director, research and development, Autodesk Construction Solutions. About Autodesk: Autodesk is changing how the world is designed and made. Our technology spans architecture, engineering, construction, product design, manufacturing, media and entertainment, empowering innovators everywhere to solve challenges big and small. From greener buildings to smarter products to more mesmerizing blockbusters, Autodesk software helps our customers to design and make a better world for all.

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CONSTRUCTION

Kojo Raises $39 Million Series C to Accelerate Modernizing the Construction Industry

Kojo | September 17, 2022

the construction industry's leading materials management platform – today announced the completion of its $39 million Series C funding round led by Battery Ventures with participation from new investors Schneider Electric, RXR, and Bienville Capital. Existing investors including 8VC, Suffolk Construction, Human Capital, AME, and BoxGroup also participated in the round. Additionally, Kojo shared that Michael Brown, general partner at Battery Ventures, joined its board of directors. "Our mission is to make it faster, easier, and more sustainable to build the world around us. Supply chain disruptions and inflation have made it incredibly challenging to keep projects on-time and on-budget. With this new round of funding, we're excited to continue building best-in-class products that help contractors all over the U.S. save money, increase their productivity, and become more resilient." -Maria Rioumine, CEO and Founder of Kojo. The $800 billion a year commercial construction industry is facing more volatility than ever with soaring construction costs, material and labor shortages, and supply chain constraints. Too many contractors today lack control and visibility over their supply chains, and critical projects are slowed down by error-prone and manual materials ordering processes. Kojo's software brings field, office, warehouse, and vendor teams onto a single platform, making it easy for contractors to manage their materials needs from project takeoff to closeout. To date, Kojo has powered the construction of nearly 10,000 projects, including hospitals, schools, and multi-family housing projects, across 46 states. Despite the recent economic slowdown, Kojo has grown annual recurring revenue 3.5x year over year and expanded to serve all major construction trades. In the last 18 months, Kojo has seen a 12x increase in users and saved customers more than $19 million on their materials orders. Alongside the new round of funding, Kojo is launching new products to further streamline payments and project spend management. Contractors will be able to reconcile their invoices and pay for materials directly on Kojo's platform, allowing them to accurately track project spend. With new distributor integrations, contractors will also be able to directly see distributor pricing and inventory to make the best buying decisions. "At Battery, we're focused on investing in entrepreneurs building industry-transforming companies, The construction industry has been underserved by technology for far too long, and that's led to huge challenges over the past few years. We're thrilled to be partnering with Kojo to change that and bring much needed software and financial services to commercial trade contractors." -Michael Brown, general partner at Battery Ventures. About Kojo: Kojo, the construction industry's leading materials management platform, enables trade and self-perform general contractors to take control of their margins by consolidating the procurement process onto one, all-inclusive digital platform. By connecting the field, office, warehouse, accounting teams, and vendors, contractors gain visibility into real-time materials spending and usage, streamline workflows, and increase labor productivity. Contractors have access to a network of thousands of vendors to source the best prices and availability, find cost savings and reduce material waste. Kojo is trusted by hundreds of contractors and utilized by thousands of construction professionals across the country every day.

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CONSTRUCTION

Construction Discovery Experts Expands Partnership with Reveal to Create Custom AI Models for Construction Litigation & Workflows

Construction Discovery Experts | October 14, 2022

Construction Discovery Experts (“CDE”), the eDiscovery firm custom built for the construction industry, and Reveal, the global provider of the leading AI-powered eDiscovery platform Reveal 11, announced today the significant expansion of the firms’ existing collaboration to supercharge CDE’s AI capabilities for construction eDiscovery and litigation. A first for the construction sector, CDE is working hand-in-hand with Reveal to employ custom layouts and workflows specifically for CDE’s construction clients. ”Although a necessary component in the litigation process, CDE understands that eDiscovery can be painful, expensive, and confusing for construction litigants and their outside counsel. We own the unavoidable eDiscovery process from start to finish so that our clients and their counsel can focus on winning. Reveal’s advanced technology helps us to serve this mission.” -Brett Lamb, CEO of Construction Discovery Experts. Reveal’s AI platform is uniquely equipped to handle complex and large-scale construction litigation matters using custom workflows and AI models that understand the unique nature of construction disputes. With Reveal’s customized layouts for particular data types relevant to construction project files, CDE is able to seamlessly and quickly uncover critical insights for their clients using more advanced tools and less resources than ever before. CDE places an emphasis on tailor made solutions, rather than a one size fits all approach. Every matter for a client lays the groundwork for an ever-evolving playbook unique to each client including everything from portable AI models to custom workflows that can be leveraged across matters. “The most exciting partners to work with are those who are masters of their domain and understand the unmatched innovation and value they’re bringing to that domain. The team at CDE are one of those partners – pioneering the use of advanced AI in the field of construction, A true collaborative venture, our work with CDE is already becoming an example of how organizations (and their customers) of any size, in any industry, and in any location, can not only benefit from the power of AI, but can also out smart its competition.” -Wendell Jisa, founder & CEO of Reveal. With the most adaptability and scalability of any tech solution on the market, the Reveal 11 AI platform is uniquely equipped to handle matters at any scale. Combined with the industry’s most advanced visualization tools on the market, clients can now quickly and more deeply understand their digital environments in ways traditional tools simply cannot replicate. About Reveal: Reveal provides world-class document review technology, underpinned by leading processing, visual analytics, and artificial intelligence, all seamlessly integrated into a single platform for eDiscovery and investigations. Our software combines technology and human guidance to transform structured and unstructured data into actionable insight. We help organizations, including law firms, corporations, government agencies, and intelligence services, uncover more useful information faster by providing a world-class user experience and patented AI technology that is embedded within every phase of the eDiscovery process. About Construction Discovery Experts: CDE is the construction industry’s go-to teammate for eDiscovery expertise in legal technology and efficiency. CDE hosts a team of experts that are skilled at delivering client-centered consulting services focused on three critical components: construction industry expertise, simple fee structure and concierge level service. CDE knows eDiscovery can be painful, expensive and confusing; we own the unavoidable so our clients can prevail.

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