Marsh McLennan to Acquire McGriff Insurance Services
Marsh McLennan (NYSE: MMC), a global leader in risk, strategy and people, today announced that it has reached an agreement through its Marsh McLennan Agency business to acquire McGriff Insurance Services, LLC, an affiliate of TIH. McGriff is a leading provider of insurance broking and risk management services in the United States, with $1.3 billion of…
Vantage Risk Introduces U.S. Large Property Insurance
Vantage Group Holdings Ltd. (Vantage) launched today its U.S. Large Property offering through its U.S. insurance subsidiaries, further extending the company’s insurance capabilities for its brokers and clients. Vantage’s new U.S. Large Property team builds on the group’s existing property expertise and sustained portfolio growth. Designed to serve a broad range of middle market and corporate…
Streamline Your Construction Lien Management with Bectran and NCS Credit Integration
Bectran, Inc., the industry leader in credit, collections, and accounts receivable management technology has announced a new collaboration with NCS Credit, a renowned provider of Mechanic’s Lien, UCC, and collections solutions. This partnership unveils an innovative Mechanic’s Lien integration solution tailored specifically for construction professionals, providing users with a streamlined approach to safeguard their projects and efficiently…
Sharp Increase in Economic Confidence across North America
The ACCA and IMA® (Institute of Management Accountants) Global Economic Conditions Survey (GECS) shows confidence rebounded sharply in North America in Q4 in 2023, after a large fall in Q3. Confidence declined among accountants globally for the third consecutive quarter, consistent with a further moderation in global growth. The survey doesn’t suggest that a major downturn is on the…
FMI Corporation Acquires Investment Bank SLATE Partners
Co-founded by Aaron Bachik and Jason Munoz in 2014, SLATE Partners provides sell-side and buy-side mergers and acquisitions (M&A) advisory services to companies in the building materials and building services industries nationwide. The firm’s clients include family and entrepreneur-owned businesses as well as private equity-backed companies. The acquisition of SLATE Partners brings significant complementary talent…
BuildersRisk.Net Insurance Succeeds Sells 2554 Policies During 2021
The construction segment has faced many challenges during the COVID-19 pandemic, from supply chain disruptions and material shortages to social distancing requirements and sick workers. After a turbulent market in 2020, certain lines of business are experiencing some stabilization. However, 2021 was a banner year for the construction industry, and until today, consumer appetite for new…
Built Helps Construction Lenders Manage Risk with Project Pro
Built Technologies (Built), the fastest growing construction finance platform in the U.S., today announced Project Pro, the first-of-its-kind contractor management and project monitoring solution for lenders. Construction lenders around the world are limited in their ability to monitor and manage the risks of their construction portfolio. They often lack specialized tools built for construction financing that…
Flexbase Announces First-Ever Credit Card for Construction Industry
Flexbase, the automated payment platform for contractors and the construction industry that delivers faster and more efficient payments, announced the first-ever credit card specifically for construction companies, targeting small- and mid-sized businesses (SMBs). Flexbase Card is available immediately nationwide, offering up to 60 days interest-free credit and numerous other benefits. “For years, slow payments and…
Majority of Construction ESOPs Not Significantly Impacted by COVID-19
Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, recently released its ESOP Construction Industry Survey. Prairie works with owners of private construction businesses across the country, providing advisory services to support their growth and ownership transition strategies. Many of its clients in the construction industry have decided on an ESOP as part of…
Cash Flows Versus Profitability
Every business owner knows that cash is king. For a business to be successful, it must have good cash flow. However, for a business to be valuable, it must also be predictably profitable. And as we’ll see, these are not always the same thing. As an example, I recently worked with a business owner, who…
