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HammerTech Secures US$70 Million Growth Investment Led by Riverwood Capital to Modernize Construction Site Safety and Efficiency Globally

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Private equity firm Riverwood Capital views HammerTech’s safety intelligence software platform as a ‘mission-critical solution’ for constructionThe investment will fund growth and the integration of AI and other technologies to deliver further efficiency gains to contractors.  

MELBOURNE, Australia and MENLO PARK, Calif., July 15, 2024 /PRNewswire/ — Construction safety software company HammerTech is set to accelerate business expansion and product innovation following a US$70 million (A$105 million) growth investment from US-based Riverwood Capital, one of the leading investment firms solely dedicated to technology growth and scalability.

The new capital will spur growth and accelerate research and development. This includes the integration of AI and other technologies into HammerTech’s safety intelligence software platform for general contractors and trusted by more than a million workers globally.

“This is a pivotal moment in our evolution, ultimately benefiting our clients and the industry,” says HammerTech CEO and Co-Founder Ben Leach. “We remain focused on delivering further efficiency gains through smarter workflows, keeping us at the forefront of construction technology to ultimately make construction sites safer.

“Working on a construction site is still one of the most dangerous jobs in the world, with the highest number of workplace fatalities of any industry. Sadly, many of these life-changing events are preventable.

“As projects become more complex, technologies must go beyond digitizing forms. We need to make day-to-day processes and activities easier for site teams so they can focus on working safely and doing what they do best – building.”

Alongside its financial investment, Riverwood brings expertise in growing and scaling technology companies globally, guiding HammerTech as it continues its ambitious expansion strategy.
“HammerTech powers the safety programs for the most sophisticated construction firms in the world,” said Jeff Parks, Co-Founder & Managing Partner, Riverwood Capital. “Ben and the team have built an incredible business centered around delivering value to stakeholders, in an industry that is traditionally underserved by transformative technologies.

“We couldn’t be more excited to partner with such a visionary team in the next phase of their growth as they bring a much-needed enterprise-wide safety intelligence software to new markets and customers.”

“We view HammerTech as a mission-critical solution for modernizing and automating job site safety,” says Ramesh Venugopal, Partner, Riverwood Capital. “From general contractors to specialty contractors to asset owners, HammerTech delivers value that is driving tangible ROI all while making the job site a safer place to work,” said Ramesh Venugopal, Partner, Riverwood Capital.

“We are impressed by its well-designed platform for onboarding and orientation, safety inspections, incident reporting, and job site compliance – with clear audit trails for lookbacks.”

Founded in 2013, HammerTech has posted impressive growth. It now serves over 500 clients worldwide, including contracting giants with multibillion-dollar turnovers. They include Shawmut Design and Construction, DPR Construction, and market leaders like Hutchinson in Australia and European contractor John Paul Construction.

HammerTech has been used on over 20,000 construction projects around the world, with more than 3.6 million workers inducted via the platform to date.

Growth equity firm Arrowroot Capital will remain a HammerTech shareholder after investing in the Melbourne-headquartered firm in 2019. Riverwood Capital will now have HammerTech board representation, in addition to Arrowroot Capital.

Lightning Partners served as financial advisor to HammerTech in connection with the transaction.

Media Contact: 

North America: Caitlin Mitchell, Riverwood Capital caitlin@rwcm.com
AUS: John Fergusson, Daymark, john.fergusson@daymark.com.au +61 (0) 407 826 952

About HammerTech: Built for construction, HammerTech’s safety intelligence software platform was created to improve worker safety and solve site efficiency challenges. Launched in 2013, the breadth, deep insights and expertise of HammerTech is trusted by over 20,000 projects led by construction’s best contractors including Hutchinson, DPR Construction, Shawmut Design and Construction, and John Paul Construction to make their job sites among the safest in the world. Visit www.hammertech.com to learn more.

About Riverwood Capital: Riverwood Capital invests in high-growth companies in the technology and technology-enabled industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale on a global basis. The firm seeks to invest in established businesses with a proven technology and business model, and the proper fit in terms of culture and values. Riverwood was founded in 2008 and has had the opportunity to invest in and support over 80 companies since inception. The Firm has offices in Menlo Park, CA; Miami, FL; New York, NY; and São Paulo, Brazil. Please visit www.riverwoodcapital.com.

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SOURCE HammerTech; Riverwood Capital

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Galloway Company Expansion Nearly Doubles United States Industrial Sweetened Condensed Milk Capacity

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NEENAH, Wis., Jan. 9, 2025 /PRNewswire/ — Galloway Company, a leader in premium dairy ingredients, announces the completion of a major expansion to its production capabilities. The addition of a custom-built evaporator will nearly double the United States’ total capacity for industrial sweetened condensed milk. The expansion comes at a critical time, relieving a highly constrained market for premium concentrated dairy ingredients in the United States.

The expansion will set new industry benchmarks in capacity, operational efficiency, and quality.

The expansion will allow the company to serve existing clients with the same premium quality ingredients they’ve come to rely on, while also welcoming new customers for the first time in four years.

“Over the last four years, we’ve seen growing constraints from the bakery and confectionery markets, with extended lead times and maxed-out production capacities,” said Mike Hasler, Director of Industrial Sales, Galloway Company. “This expansion ensures we can not only meet the demand of our existing customers but also welcome new business.”

With the addition of the second evaporator, Galloway Company is building redundancy into its production process, minimizing the risk of service interruptions for clients. The new system will also enable greater customization of products, allowing the company to meet the needs of clients of all sizes—from full tanker trucks to smaller batches packaged in totes and 5-gallon pails.

The expansion will set new industry benchmarks in capacity, operational efficiency, and quality. The upgraded system includes high-efficiency motors and precision-engineered valve systems, with a fully automated homogenization process, advanced lactose seeding technologies, and state-of-the-art cooling systems. These updates minimize energy consumption and reduce environmental impact while advanced quality control measures ensure consistent performance and accuracy. 

For more information or to place an order, please visit gallowaycompany.com or contact Mike Hasler at mhasler@gallowaycompany.com.

About Galloway Company

Galloway Company is the number one supplier of cream liqueur bases and sweetened condensed milk in the U.S. Located in Neenah, Wisconsin, Galloway specializes in producing unique formulations of condensed dairy blends and beverage bases. Classic Mix Partners, a subsidiary of Galloway Company, is the largest manufacturer of frozen dairy dessert mixes in Wisconsin, serving customers nationwide. For more information on our complete line of innovative dairy product mixes and bases, visit gallowaycompany.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/galloway-company-expansion-nearly-doubles-united-states-industrial-sweetened-condensed-milk-capacity-302346533.html

SOURCE Galloway Company

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SOCi Scales its AI Agent Solutions While Bolstering Path to Profitability

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SAN DIEGO, Jan. 9, 2025 /PRNewswire/ — SOCi, Inc., the leader in AI-powered marketing solutions for multi-location businesses, today announced initial results from its AI Agent strategy. In less than eight months, SOCi’s Genius AI™ solutions now account for more than 10% of the company’s annual recurring revenue (ARR). These results cap off a year of remarkable milestones for SOCi, including surpassing $100 million in ARR—a feat that places the company among the elite Centaur SaaS organizations globally.

In 2025, the company plans to continue to enhance and expand its advanced Genius AI™ technology, allowing SOCi’s AI Agents to take on even more local marketing tasks at scale and deliver unprecedented efficiency and value for SOCi’s nearly 1,000 multi-location customers. Additionally, SOCi is committed to accelerating its journey to profitability by strategically realigning resources to focus on high-impact areas with proven success. This reorganization is designed to enhance efficiency, drive scalability, and position the company for sustainable, long-term growth.

“We remain committed to revolutionizing the industry with our AI Agent innovation and Genius solutions, delivering the first digital workforce to drive unparalleled value for our customers,” said Afif Khoury, CEO of SOCi. “Simultaneously, we are focused on achieving sustainable growth by prioritizing financial stability and operational efficiency, solidifying our position as the leader in marketing innovation.”

Recently recognized as an Inc. 5000 fastest-growing company for the seventh consecutive year, and named one of Fast Company Most Innovative Companies, SOCi continues to expand its reach into new high-growth markets with its cutting-edge local marketing solutions. Over the past two years, the company has forged partnerships with iconic enterprises such as Ford, Jersey Mike’s Subs, and Ace Hardware, while establishing a strong presence in the Financial Services and Insurance sectors with notable partners like Liberty Tax and Motto Mortgage.

About SOCi, Inc.
SOCi is the leader in AI-powered marketing solutions for multi-location businesses. With its proprietary Genius AI™ and suite of Genius Agents™, SOCi provides a first-of-its-kind, AI-powered digital workforce capable of handling the workload of 1,000 local marketers™, empowering brands to achieve unmatched digital visibility, strengthen customer engagement, and scale faster than ever before.

SOCi is recognized by Fast Company as one of the World’s Most Innovative Companies, and is trusted by nearly 1,000 top brands—including Ford, Ace Hardware, Kumon, Liberty Tax, and more—to automate and optimize local marketing tasks across all locations. Founded in 2012 and backed by leading strategic investors, SOCi is transforming how multi-location brands manage and scale their marketing efforts. Learn more at www.soci.ai or contact us at hello@soci.ai.

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SOURCE SOCi, Inc.

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Verdantas Acquires M-H-M, Inc. Expanding Water Services Throughout Northern California

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TAMPA, Fla., Jan. 9, 2025 /PRNewswire/ — Verdantas, a leader in digitally enabled technical consulting solutions for the environment, water, and energy transition markets, backed by Sterling Investment Partners, is pleased to announce the acquisition of M-H-M, Inc. (MHM). The acquisition aims to enhance Verdantas’ expertise in the northern California water market and expand the services offered by both firms.

Based in Marysville, California, MHM brings invaluable expertise and experience to Verdantas, broadening the depth and range of services within the water, and land development markets with strong relationships with municipalities, public agencies, and private clients. The integration of MHM into Verdantas enhances its water service capabilities bringing valuable expertise in water supply and storage, distribution, irrigation, water master planning, flood control, storm drainage, as well as land development and surveying.

Jesse Kropelnicki, CEO of Verdantas, stated about the acquisition: “Integrating MHM into Verdantas will continue our growth strategy by further diversifying our business on the west coast, and by furthering our capabilities in the water market. This expansion enhances our expertise and ability to serve water clients more effectively in northern California. Additionally, MHM improves our land development and surveying capabilities, which will enhance other services we provide in the same geography. We look forward to providing their team with new opportunities for growth while they continue to contribute to our mission.”

California brings unique engineering design complexities. By partnering with Verdantas, we can now integrate robust in-house geotechnical and geological, structural engineering, and environmental expertise into our projects that we previously outsourced,” stated Sean Minard, President of MHM. “Our collaboration with Verdantas aims to expand our service offerings, providing comprehensive solutions in flood control, storm drainage, and water resource management as well as land development. This growth will add value to our current clients in Northern California, enabling us to deliver a more extensive suite of engineering and environmental solutions.”

James Soldano, Partner at Sterling, said, “We are proud to support Verdantas in this strategic acquisition of MHM. This move reflects our shared vision of growing Verdantas’ presence throughout the western United States and addresses the critical need for water-related expertise in a region facing challenges related to water resources and flood control.”

This acquisition is a vital component of the company’s sustainable service offerings objectives. By participating in significant projects, Verdantas plans to address critical water challenges, advocate for conservation, improve water quality, and encourage sustainable practices.

About Verdantas

Verdantas is a leader in digitally enabled technical consulting solutions for the environment, water, and energy transition markets. Blending balanced strengths in environmental and engineering expertise, we partner with clients and communities to create comprehensive solutions that contribute to a sustainable future. With a team of over 1,700 professionals nationwide, we harness diverse skills and innovative technologies to address complex challenges, protect vital resources, and foster resilient communities. For more information, visit www.verdantas.com.

About Sterling Investment Partners

Sterling Investment Partners is a leading private equity firm that has been building leading middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on control investments in value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 230 transactions, representing over $31 billion in aggregate value, and was recently ranked a Top 10 performing middle market private equity firm globally by Dow Jones-HEC Paris. For more information, visit www.sterlinglp.com.

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SOURCE Verdantas LLC

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