• Source: AltusGroup

AltusGroup, Inc. is an international partnership of 14 precast concrete companies and eight industry suppliers founded in July 2003 to develop, manufacture and market precast concrete innovations throughout North America.
Innovations include the CarbonCast line of technology that uses C-GRID carbon fiber grid for shear reinforcing developed by Chomarat North America, and ARCIS, an ultra-thin precast panel for rainscreens, marine decking and more.




History


AltusGroup emerged from a development initiative between Oldcastle Precast and Chomarat North America, formerly TechFab, LLC.
Chomarat North America first conceived commercial grid structures using fiberglass roving and epoxy in 1997. It was initially named, “PetroGrid,” and introduced by Amoco Fabrics & Fibers Co. in 1998 to create geo-grids for the road paving market.
In 1998-99, Chomarat North America and Oldcastle Precast entered a joint development agreement to explore the use of carbon fiber structural grids for use in concrete. The original precast product champion and technology visionary was Harold Messenger.
From 1998-2001, development efforts focused on product, process, testing, and engineering design validation surrounding grid use in concrete. Dr. Thomas Harmon, a professor of engineering at Washington University in St. Louis, provided primary research support for the initiative, also co-funded by both companies.
Early research and development works serve as the engineering design basis used today to design and manufacture CarbonCast.




Operations


AltusGroup emerged from a development initiative between Oldcastle Precast and Chomarat North America, formerly TechFab, LLC and operates under the concept of co-opetition. Member companies collaborate and share information to advance the development and marketing of CarbonCast and other technologies, but compete for jobs through the conventional sales and bidding process.
Its member companies place volunteer representatives on committees that oversee the policies and function of the organization:

Board of Directors – appointed officials establish an overall strategy for organization and set policies for the management of the enterprise
Marketing – a committee handles communications and maintains national marketing initiatives for new product sales opportunities at each of the companies.
Technical – a technical committee oversees the use of the technology in the plant and field to establish best practices and test results for all products developed and marketed.
The organization celebrated its 20th year of operation in 2023, noting that CarbonCast technology had been used on more than 2,500 projects representing 35 million square feet of surface area since its introduction.




Precaster Members


High Concrete Group LLC
Metromont Corporation
Knife River
Encon United
GPRM Prestress
Enterprise Precast Concrete, Inc.
Gage Brothers Concrete
Wells Concrete Products
Chomarat North America
Mid-States Concrete Industries
Strescon Limited
MPS Precast
Missoula Concrete Construction
Saramac
Spring Valley




Innovation Partners


ALP Supply
BASF - Neopor
Eriksson Software
Command Suite
JVI
Kawneer
Master Builders Solutions
Owens Corning




References






External links


Official website for CarbonCast
• Source: Altus Group

Altus Group Limited is a provider of asset and fund intelligence for commercial real estate. The company is headquartered in Toronto, Canada and employs approximately 2,800 employees with operations in North America, Europe and Asia Pacific. It is a public company, with its shares listed on the Toronto Stock Exchange under the symbol AIF, and Altus Group's market capitalization was around $2.7 billion as of the end of 2022. For fiscal 2022, the company had annual revenues of C$735 million and C$135 million in adjusted EBITDA.




History






= 2005–2011: Inception under Gary Yeoman

=
Altus Group went public in 2005, through the merger of three Canadian commercial real estate consultancies, one of which was led by its first CEO, Gary Yeoman. Altus initially listed on the Toronto Stock Exchange as an income trust and subsequently converted into a corporation when the Canadian federal government implemented new taxes on trust distributions in 2011. The company originally focused on consulting services for the commercial real estate industry but over the years has also repositioned itself as a technology company to help clients manage their commercial real estate portfolios.
In 2006, Altus Group expanded into the land surveying industry in Western Canada which formed its Geomatics business segment. The Geomatics business was subsequently spun off in 2020, into the private company called GeoVerra that combined Altus Group’s Geomatics business with WSP’s geomatics operations.
In its first five years, the company expanded through acquisitions. These acquisitions primarily focused on the company’s property tax business. Altus Group’s property tax practice expanded into the UK market in 2007, with the acquisition of Edwin Hill. Expansion in the UK continued, including through the acquisition of Commercial Valuers & Surveyors (CVS) in 2017. Starting in 2010, the company also grew its property tax practice in the US, mainly through the acquisitions of Brazos Tax in 2010, Complex Property Advisors in 2013, and SC&H Group’s State & Local Tax Practice in 2014. The company also expanded its cost consulting practice to the Asia Pacific region through the acquisition of Page Kirkland in 2009.
The firm's shift to technology began with the acquisition of Argus Software in 2011. The current Altus Analytics business segment includes software, data solutions, and advisory offerings, including PricewaterhouseCoopers’s valuation management practice that was acquired in 2010. Acquiring ARGUS Software marked the first time that Altus Group entered the commercial real estate software industry.




= 2011–2020: Expansion into software and data under Robert Courteau

=
In 2011, Gary Yeoman stepped down as CEO and in 2012, Robert Courteau joined as the new CEO. He had previously served as president of SAP North America, an enterprise application software company. Under Courteau's leadership, the company continued its expansion into software. In 2014, it acquired Voyanta, a data management SaaS solution for CRE investors, and in 2018, it acquired Taliance, a provider of modelling and forecasting tools for CRE investors. In 2019, it launched a cloud-supported version of its Argus Enterprise product, used as an asset and investment management platform by the commercial real estate industry.




= 2020–present: "Intelligence as a service" strategy under Mike Gordon & Jim Hannon

=
In September 2020, Courteau retired and was succeeded as CEO by Mike Gordon. Gordon was previously CEO of Callcredit Information Group, a U.K.-based provider of consumer data for businesses. Under Gordon, the firm adopted an "intelligence as a service" strategy, focused on providing solutions for managing the performance and risk of CRE assets. In 2021, it acquired two CRE data analytics providers: Stratodem, and Reonomy. It also acquired Finance Active, a provider of debt management software.
Jim Hannon, previously president of Altus Analytics, succeeded Mike Gordon as CEO on April 1, 2022.




Business


The company has two business segments: Altus Analytics, and Commercial Real Estate (CRE) Consulting. Altus Analytics provides software and data analysis for the commercial real estate industry. The CRE Consulting segment focuses on property tax, valuations advice and cost consulting.
The Altus Analytics' segment consists of global software products sold under the Argus brand, appraisal management data analytics programs and Canadian data subscription products. Its clients consist of CRE asset and investment management firms, including large owners, managers and investors of CRE assets and CRE funds, as well as other CRE industry participants including service providers, brokers, and developers. The programs provide visibility at the asset, portfolio and fund level to help clients enhance performance of their CRE investments.
The CRE Consulting segment consists of property tax, valuation and cost advisory services. The company works with CRE market participants—including owner operators, developers, financial institutions, and various CRE asset holders and investors. The property tax services are offered in Canada, the US and the UK.
In 2019, Altus Group's consolidated revenues were 39% from Canada, 37% from the US, 18% from Europe, and 6% from Asia Pacific. In 2019, 38% of consolidated revenues came from the Property Tax business, 36% from Altus Analytics, 19% from Valuation and Cost Advisory and 7% from Geomatics.




References

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