General contractor

Rabbet Survey Sees Cost of Slow Payments in the Construction Industry Soar to $100 Billion in 2020

Thursday, October 29, 2020 - 9:02pm

Rabbet, a leading provider of construction finance software for real estate lenders and developers, today released the 2020 Construction Payments Report with insights into the rapidly accelerating costs associated with slow payments in the construction industry.

Key Points: 
  • Rabbet, a leading provider of construction finance software for real estate lenders and developers, today released the 2020 Construction Payments Report with insights into the rapidly accelerating costs associated with slow payments in the construction industry.
  • Based on a survey conducted in September 2020, general contractors and subcontractors estimate that the cost of floating payments for wages and invoices represents $100 billion in excess cost to the industry, a 56 percent increase from the cost reported in 2019.
  • To compile the data, Rabbet distributes a survey each year to general contractors and subcontractors representing a diverse set of trades.
  • This years report captures how 99 survey respondents across the U.S. managed working capital, bidding decisions, and project risks in the face of slow payments during the last 12 months.

MYCON General Contractors, Inc. (MYCON) Promotes Ryan Stoll, LEED AP BD+C to Vice President

Thursday, October 29, 2020 - 12:38pm

DALLAS, Oct. 29, 2020 /PRNewswire/ --MYCON is pleased to announce the promotion of Ryan Stoll, LEED AP BD+C to vice president.

Key Points: 
  • DALLAS, Oct. 29, 2020 /PRNewswire/ --MYCON is pleased to announce the promotion of Ryan Stoll, LEED AP BD+C to vice president.
  • Charles R. Myers, president and chief executive officer of MYCON, announced Wednesday, October 14, 2020.
  • As vice president, Stoll is responsible for developing and maintaining client relationships and managing preconstruction.
  • MYCON General Contractors, Inc. (MYCON) is an award-winning, industry-leading commercial contractor based in Dallas, Texas.

Hilti Unveils BIM-Enabled Construction Jobsite Robot

Wednesday, October 28, 2020 - 3:17pm

PLANO, Texas, Oct. 28, 2020 /PRNewswire/ -- Hilti , an innovator oftools, technology, software and services to the commercial construction industry, today introduced its first robot, Jaibot, for semi-autonomous mobile ceiling-drilling.

Key Points: 
  • PLANO, Texas, Oct. 28, 2020 /PRNewswire/ -- Hilti , an innovator oftools, technology, software and services to the commercial construction industry, today introduced its first robot, Jaibot, for semi-autonomous mobile ceiling-drilling.
  • The Hilti Jaibot construction robot will help mechanical, electrical and plumbing (MEP) installation contractors tackle productivity, safety and labor shortage challenges.
  • With this new construction automation solution, Hilti makes a further step toward the digitization of construction sites.
  • The Hilti Jaibot construction robot will help contractors tackle productivity, safety and labor challenges on jobsites.

BELAY to Launch New App to Further Support Its Clients and Contractors

Wednesday, October 28, 2020 - 2:00pm

"Our goal is to help speed up the matching and placement process, without impacting its quality for both our clients and contractors."

Key Points: 
  • "Our goal is to help speed up the matching and placement process, without impacting its quality for both our clients and contractors."
  • Behind the scenes, BELAY has empowered its contractors by including more self-service features, aligning with its goal to move quicker to meet the needs of its clients.
  • "And once a customer has kicked off with their contractor, they'll be able to use the app to quickly communicate with their contractor, as well as their BELAY support team."
  • For contractors, Phase 1 of the app was launched earlier in October, and it's already been touted for its ease of communication.

Gilbane Building Company Awarded Project of the Year from Associated Builders and Contractors

Monday, October 26, 2020 - 2:00pm

ORLANDO, Fla., Oct. 26, 2020 /PRNewswire-PRWeb/ -- Gilbane Building Company was pleased to receive the Central Florida Chapter Associated Builders and Contractors Project of the Year Award for NeoCity Academy.

Key Points: 
  • ORLANDO, Fla., Oct. 26, 2020 /PRNewswire-PRWeb/ -- Gilbane Building Company was pleased to receive the Central Florida Chapter Associated Builders and Contractors Project of the Year Award for NeoCity Academy.
  • This state-of-the-art project also promoted best practices in teamwork by owners, architects, and trade contractors which ushered in an additional accolade, the Excellence in Construction Eagle Award.
  • "Our project teams and partners have all worked incredibly hard to deliver this innovative facility for students, teachers, and the local community.
  • The team, architect, client and trade partners are extremely deserving of this recognition," noted Heidi DeBenedetti, senior vice president of Gilbane Building Company.

DASNY Selects The Cayemitte Group to Provide Capital Management Services to MWBE and SDVOB Construction Contractors

Wednesday, October 21, 2020 - 1:38pm

BORDENTOWN, N.J., Oct. 21, 2020 /PRNewswire/ -- The Dormitory Authority, State of New York (DASNY) has selected The Cayemitte Group (TCG) through a competitive bid process to provide Cayemitte Capital Management (CCM) services to its MWBE and SDVOB construction contractors.

Key Points: 
  • BORDENTOWN, N.J., Oct. 21, 2020 /PRNewswire/ -- The Dormitory Authority, State of New York (DASNY) has selected The Cayemitte Group (TCG) through a competitive bid process to provide Cayemitte Capital Management (CCM) services to its MWBE and SDVOB construction contractors.
  • Cayemitte Capital Management will provide sureties and lenders with the risk mitigation needed to comfortably bond and lend funds for DASNY projects.
  • "Without strong financial presentation and funds management skills, diverse businesses are at a disadvantage as compared to majority contractors.
  • Mr. Cayemitte began working with Mr. Clay and DASNY in 2009 when they designed the groundbreaking DASNY Surety Bond and Capital Access Program.

HOVER Partners with SRS Distribution, Inc. to Deliver Efficiency and Precision to Contractors

Tuesday, October 20, 2020 - 2:00pm

HOVER will introduce a seamless process for ordering materials via SRS' Roof Hub tool in early 2021.

Key Points: 
  • HOVER will introduce a seamless process for ordering materials via SRS' Roof Hub tool in early 2021.
  • HOVER Partners with SRS Distribution, Inc. to Deliver Efficiency and Precision to Contractors
    "SRS is a leading distributor in the building materials space and we're thrilled to launch HOVER to their network of independent contractors," said A.J.
  • HOVER gives contractors invaluable tools such as interactive 3D blueprints to establish trust with existing clients and attract new customers.
  • SRS Distribution is a portfolio company of Leonard Green & Partners, L.P. and Berkshire Partners LLC.

PlanHub Announces $41 Million Investment from Mainsail Partners

Tuesday, October 20, 2020 - 1:00pm

WEST PALM BEACH, Fla., Oct. 20, 2020 /PRNewswire-PRWeb/ -- PlanHub, a project bid marketplace for the commercial construction industry, today announced receiving an investment of $41 million from Mainsail Partners, a growth equity firm that invests in fast-growing, bootstrapped software companies.

Key Points: 
  • WEST PALM BEACH, Fla., Oct. 20, 2020 /PRNewswire-PRWeb/ -- PlanHub, a project bid marketplace for the commercial construction industry, today announced receiving an investment of $41 million from Mainsail Partners, a growth equity firm that invests in fast-growing, bootstrapped software companies.
  • PlanHub provides a cloud-based SaaS platform to connect general contractors, subcontractors and suppliers during the pre-construction phase of a project.
  • "Mainsail Partners has a track record of teaming up with entrepreneurs who launch software products for the industry in which they have meaningful work experience," said Vinay Kashyap, Partner at Mainsail.
  • PlanHub and Mainsail have already begun to build out the executive team, adding Cameron Darby as the company's Chief Growth Officer.

Real Time Risk Solutions teams with Zurich North America

Monday, October 19, 2020 - 2:00pm

CHICAGO, Oct. 19, 2020 /PRNewswire/ -- Real Time Risk Solutions (RTRS), a leader in risk management solutions, has collaborated with Zurich North America Insurance to developZurich Construction Solutions (ZCS).

Key Points: 
  • CHICAGO, Oct. 19, 2020 /PRNewswire/ -- Real Time Risk Solutions (RTRS), a leader in risk management solutions, has collaborated with Zurich North America Insurance to developZurich Construction Solutions (ZCS).
  • "Our construction customers have told us about the struggles they face on their job sites related to quality and safety," said Jon Tate ,Vice President of Construction, Zurich Services Corporation, Risk Engineering Zurich North America.
  • By streamlining Quality and Safety reporting, Real Time Risk Solutions' integrated platform provides collaboration tools for contractors to manage internal teams and external partners while driving insights on performance through advanced analytics.
  • For more information on ZCS, visit http://www.zurichna.com/zcs
    For more information about Real Time Risk Solutions, visit www.rtrs.co .

Answers To Common Questions For Louisianans Searching For Contractors To Repair Homes

Monday, October 19, 2020 - 1:00pm

As Louisianans rebuild, the National Insurance Crime Bureau offers answers to common questions many are currently facing.

Key Points: 
  • As Louisianans rebuild, the National Insurance Crime Bureau offers answers to common questions many are currently facing.
  • A: People searching for contractors are inundated with information which can make the search more challenging.
  • On its website, consumers can search by a contractor's license number or name, or by city or parish.
  • Sometimes people will claim to be contractors, offer services, receive payments often in advance and take the money and leave.