Construction

ToolWatch Introduces New Construction EHS Management Solution

ToolWatch Introduces New Construction EHS Management Solution

ToolWatch, a leading provider of construction operations software solutions connecting the field, warehouse, and back office, today announced the launch of ToolWatch EHS, a comprehensive environmental health and safety product offering that helps general and specialty contractors more effectively manage their safety programs. The addition of EHS expands the ToolWatch construction operations platform to integrate safety and compliance with other jobsite workflows and data, improving overall performance by reducing risk and achieving regulatory compliance.

ToolWatch EHS offers a suite of safety management tools, enabling construction organizations to manage all aspects of safety and compliance on a single platform. These capabilities include inspections, compliance reporting, training, observations, incidents, job safety analyses, custom safety forms, and a dashboard for administration, data analysis, and reporting.

ToolWatch EHS also delivers field safety data to the back office in near real-time so that decision-makers can identify and mitigate safety risks before they lead to incidents.

"ToolWatch is transforming the way construction companies manage their operations by collating data from different operational areas to highlight trends and inform data-driven decision-making that improves overall performance," said ToolWatch CEO Jay Martin. "ToolWatch EHS introduces safety and compliance data to the platform, which means our customers can identify the operational factors that affect their safety performance and safety's impact on overall productivity."

The compliance focus of ToolWatch EHS ensures that job sites meet applicable regulatory standards, with detailed inspection checklists based on OSHA 1926, incident report logs based on OSHA forms 300/301, and employee training record tracking. ToolWatch EHS helps construction companies eliminate paper by digitizing safety information and saves time by allowing users to quickly create detailed safety reports complete with recommendations and relevant standards.

ToolWatch EHS is generally available and can be purchased independently or bundled with ToolWatch's other construction operations solutions. To learn more about ToolWatch EHS and its capabilities, please visit www.toolwatch.com/solutions/ehs-management.

About ToolWatch

For 30 years ToolWatch has helped leaders from construction and other industries across the globe manage their tool and material inventories, logistics, and safety programs. Easy to use and delivered through a powerful cloud-based platform, ToolWatch provides fast and secure access to real-time operations data to help its customers run their businesses more efficiently, more cost-effectively and more profitably. With a strategic investment in 2021 from The Riverside Company, a global private equity firm, ToolWatch will continue building on its position as the construction industry's first and most comprehensive operations management platform. For more information about ToolWatch, visit www.toolwatch.com.

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Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

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