Data & System Complexity Limits Our Teams' Ability to Deliver Value
We have ambitious growth plans, and we need our teams to be productive. D&IT is one of the root causes where we can make a difference.
Business Objectives
- Engage single point of contact on projects
- Simple contract execution and account management
- Ensure timely, accurate project setup and billing
- Customers receive outreach from multiple sales reps
- Contract approval process inconsistent across branches (24-48 hours)
- Quote turnarounds take multiple days due to engineering reliance
Business Objectives
- Convert leads to opportunities
- Submit quotes and transition bid to execution
- Manual effort required to map leads across North America to correct customer
- Need to accelerate quote generation through connected systems and on-the-go quoting capability
Business Objectives
- Ensure crews are on-time and productive
- Track crew time accurately
- Time capture is manual and paper-based, creating errors and delays
- Progress on complex jobs difficult to track without centralized platform
- Customers rely on manual time-heavy status updates
Business Objectives
- Drive business growth across service offerings
- Acquire labor and materials for jobs
- Oversee successful job execution
- Job activity data must be manually consolidated for earned value reports
- Change order execution inconsistent, heavily dependent on site manager
- Staffing/labor scheduling in Excel spreadsheets with minimal visibility
- Procurement system lacks purchasing governance
Business Objectives
- Accurately report financial performance
- Close the books
- Analyze cost & profitability
- Invoice generation depends on manual Excel uploads and timesheet follow-ups
- Operations reviews require manual data manipulation
- Billing and AR dashboards disconnected from cash receipt systems
"Transformation is successful when frontline teams say it makes their work easier, safer, faster - and more successful."
Where We Should Start
Recommended Path - Priority #1: Sales & Commercial Enablement + Supply Chain / Procurement
9 Priority Initiatives
All 9 initiative MVPs product ready
End of 2026
Execution & Deployment
Implementation and rollout timeline
Jan '26 to Aug '28
Full Run-Rate Benefits
Full value realization through modernization
End of Year 2
Investment Break-Even
Cumulative EBITDA uplift achieves payback
18-24 Months
Low-Hanging Fruit: Immediate Impact
These initiatives can be deployed quickly with high ROI, building momentum for the larger transformation.
Salesforce Mobile
On-the-go CRM access, voice commands, dashboards
3-4 MonthsFieldTrax 1.0
Digitized time tracking, payroll automation
Pilot: Jan '26Salesforce Maps
Territory planning & DRAB visualization
5 MonthsCLM Phase 1
Standardized contracts & central repository
5 Months BuildCustomer Data MVP
Unified customer 360 in Salesforce
4 MonthsPricing Data MVP
Centralized pricing master data
4 MonthsJ&E Payroll Integration
Automated payroll uploads from FieldTrax
3 MonthsQuote Standardization
CPQ governance & templates
5 MonthsTarget Architecture: Designed for Growth, Resilience & Modularity
N. AMERICA ONLY - Reducing system complexity while adding modern capabilities
| Domain | Current Systems | Retained/Enhanced | Retired | New Added | End Systems |
|---|---|---|---|---|---|
| Sales & Commercial Enablement | 24 | 11 | (13) | +4 | 15 |
| Jobsite Management | 6 | 3 | (3) | +2 | 5 |
| Back Office Productivity | 4 | 1 | (3) | +1 | 2 |
| Foundational Enablement | 15 | 4 | (11) | +2 | 6 |
| TOTAL | 49 | 19 | (30) | +9 | 28 |
Architecture Components
Sales Layer
- ● SF Sales Cloud (Lead, Opportunity, Pricebook)
- ● SF Data Cloud (CDP) - Customer 360
- ● SF Mobile, SF CPQ
- ● SF Pardot (Marketing)
- ● CLM Platform (NEW)
Frontline / Field Tools
- ● FieldTrax Web & Mobile (NEW)
- ● XTOOL (Enhanced)
- ● ProField (JLM, WBS)
- ○ STS (RETIRE)
- ● PICK
Engineering / Quoting
- ● SafQuote 2.0 (Enhanced)
- ● HALEP, BrandNet (HomeGrown)
- ● MIKE (SaaS)
- ● Smart Estimator
- ● Mobile Estimation Tool (NEW)
Integration Layer
- ● Azure API Gateway
- ● Azure Integration Services
- ● Workato
- ● Quote, Tax, Design, Invoice APIs
- ● Customer, Employee, Price APIs
Foundational Data
- ● Customer 360 (Salesforce CDP)
- ● Pricing 360 (TBD Selection)
- ● PIM (TBD Selection)
- ● Snowflake (Analytics)
- ● Power BI (Reporting)
ERP & Back Office
- ● BAS, J&E, ProField, Oracle
- ● Workday (HR/Payroll)
- ○ Multiple legacy ERPs (RETIRE)
- ● Procurement Platform (NEW)
- ● Sovos, Vertex, OneSource (Tax)
2026 Priority #1 Roadmap
Productization, Operationalization & Monetization - N. America Only
| Initiative | Y1 Q1 | Y1 Q2 | Y1 Q3 | Y1 Q4 | Y2 Q1 | Y2 Q2 | Y2 Q3 | Y2 Q4 |
|---|---|---|---|---|---|---|---|---|
| CLM Solution | ||||||||
| Supply Chain/Procurement | ||||||||
| Quote Tools & Mobile | ||||||||
| Modernized Field Tools | ||||||||
| Customer Master Data | ||||||||
| Pricing Master Data | ||||||||
| PIM | ||||||||
| Salesforce Mobile | ||||||||
Growth-Enabling Initiative Deep Dive
CLM Solution
Streamline contract creation, execution, and compliance by standardizing templates, automating workflows, integrating with enterprise systems, and embedding risk and obligation tracking
Phase 1: Standardized Contract Workflows
- Standardized templates with smart search, mobile access, parent-child traceability
- Unlimited serial/parallel approvals, renewal reminders, auto-triggered compliance (COIs, Bonds, OCIP/CCIP)
- Seamless CLM, financial, and operational system connectivity
- Bidirectional redlining, clause-level risk scoring, audit logs, AI clause library
Phase 2: Governed Legal Clauses
- Centralized repository of approved legal clauses with version control and tagging
- Real-time sync of opportunity metadata with contract lifecycle
| Value Lever | Baseline | Impact |
|---|---|---|
| Pricing Margin Improvement | ~77% of NA revenue (Industrial) | +0.25-0.75% Revenue |
| Insurance Reserve Funding | Pre-funded reserves | Reduced Funding |
Note: 66% of contracts already have price escalation clauses
Quote Tool Integrations & Mobile Enablement
Standardize solutions and data across existing design/estimate/quoting tools; expand and standardize capabilities
Phase 1: Map & Territory
- Salesforce Maps and Planning implementation
- DRAB data setup and configuration
- Enterprise DRAB service buildout
Phase 2: Consolidated Quotes
- Standards & governance in CPQ
- Consolidated product data for quote generation
- SafQuote & CPQ integrated with BrandNet
Phase 3: Integrated Estimation
- Integrated quoting leveraging Customer & Pricing Master Data
- Automated sales tax calculation in SafQuote and CPQ
- Bill of material creation from design tools
Phase 4: Mobile Estimation
- Quick, simple quotes without engineering design
- Add photos to quote requests (net new)
Phase 5: Automation & Exception Mgmt
- Centralized discounts and rebates management
- Rules-based workflows for margin exceptions
| Value Lever | Baseline | Impact |
|---|---|---|
| Sales Productivity | 250-300 OSR FTE | +$500K/Rep (Bottom 50%) |
| Sales Tax Protection | ~$10.6M audits since '20 | -50% Error Exposure |
Modernized Field Tools (FieldTrax)
Digitizes workforce check-in, timesheet management, and labor analytics
Phase 1: FieldTrax 1.0 (In-flight)
- Digitized Time Tracking
- WBS Creation and Tracking
- Job Setup & Labor Dispatching
- Bid vs Actual: Earned Value Mgmt
- Automated Payroll Uploads
Pilot: Mid-January 2026 | Full Launch: March 2026
Phase 2: FieldTrax Enhancement
- J&E payroll integrations
- Jobsite security permissions
- New iOS App for FieldTrax
| Value Lever | Baseline | Impact |
|---|---|---|
| Accurate Time Entry | 438K misreported hrs (1%) | -15-30% Errors |
| Admin Productivity | 200 branches, $35/hr admin | -5 OT hrs/wk |
| Foreman Productivity | ~2,100 Foremen, $55-60/hr | -50% Timesheet Time |
Job Lifecycle Mgmt. & Earned Value Reporting
Standardizes job setup, automates execution data capture, and delivers real-time performance insights
Phase 1: Upgrade & Standardization
- Modernize XTOOL with FieldTrax bidirectional integration
- Standardized WBS fields and integration
- Centralized earned value solution (planned, earned, actual costs)
- Sunset STS
Phase 2: Automated Job Setup
- Automated job setup with routing and approvals
- Integration with Pricing and foundational services
Phase 3: Insights & Dashboards
- Automated capture of job progress and costs
- Project dashboard: progress, costs, risks across regions
| Value Lever | Impact |
|---|---|
| Reduced Project Overrun | 25-50% of bottom quartile jobs improve from 13% to 24.5% CPG margin |
Labor Availability & Scheduling
Centralizes scheduling, predictive demand analytics, and automated employee placement
MVP: Predictive Analytics Dashboard
- Labor availability dashboard (skills, location, dates)
- Integrations with ERP, FieldTools, and Salesforce
Backlog: Best-Fit Placement
- Automated employee placement recommendations
- Based on project fit, safety, skillsets, location
| Value Lever | Impact |
|---|---|
| Labor Redeployment | -0.5-1.5% OT on Industrial T&M >$250K |
Change Order Management
Automates change workflows, embeds audit controls, and integrates change data
Phase 1: Governed Workflows
- Governed change order workflows with triggered alerts
Phase 2: Automated Processing
- Automated initiation, tracking, and escalation
- Integrated into project performance dashboards
Note: Not part of FieldTrax 1.0
Supply Chain / Procurement Solution
Reduce direct/indirect procurement costs through centrally coordinated & governed purchasing, while not impeding business operations
Phase 1: Modernize Procurement
- Automated PO management & vendor lifecycle
- Unified sourcing with real-time spend dashboard
- Digital supplier onboarding & qualification
- End-to-end PO automation
- Enhanced 3-way matching automation
Phase 2: Centralized Contract Mgmt
- Vendor contract lifecycle with version control
- Renewal alerts and approval workflows
- Digital product catalogs and punchout
- Standardized pricing, self-service purchasing
| Value Lever | Baseline | Impact |
|---|---|---|
| Reduced Direct OPEX | Material COS & Consumables | -3.23% via SKU consolidation (Gartner) |
| Reduced Indirect Spend | Addressable indirect spend | -1.5% via center-led procurement |
Master Data & Platform Initiatives
Define attributes, acceptable values, control upstream processes, perform cleanup, and house all data in one place.
Customer Master Data
Platform: Salesforce CDP
Current State
- Fragmented across Salesforce, J&E, Profield, BAS
- No unified view across LOBs
Future State
- Salesforce CDP as single source
- Enterprise-wide unified record
Pricing Master Data
Platform: TBD (Zilliant, Vendavo, pricefx options)
Current State
- Each branch has localized pricing master
- Can override list & rental price
- SafQuote/Excel to BAS/Profield
Future State
- Centralized Pricing Master
- Branch can override rental only
- Standardized distribution
Product Information (PIM)
Platform: TBD (STIBO, Salsify, Akeneo, PIMCore)
Current State
- Pricebook: 70% coverage
- Missing motorized & special services
- Excel for remainder
Future State
- PIM as single source of truth
- 100% product coverage
- Content authoring & attribution
Employee Master Data
Platform: Workday
Fleet Master Data
Platform: TBD (MCS, TEXADA, BlueYonder)
Current State
- BAS → DWH
- ProField, JD Edward, GRIM
- MYSIS, EPICOR, Oracle
Future State
- Fleet Master (Single Source)
Asset Data 360
Platform: New System (Horizon 3)
Platform Assignments Summary
| Data Domain | Target Platform | Key Attributes |
|---|---|---|
| Customer | Salesforce CDP | Profile, preferences, transaction history, segmentation |
| Pricing | TBD Selection | Labor rates, asset rental, list price, allocation cost |
| Employee | Workday | Profile, DRAB, skills, certifications, history |
| Fleet | TBD Selection | Type, location, availability, transfer lead times, utilization |
| DRAB | Salesforce or ERP (TBD) | Hierarchy, roles, assignments |
| Vendor | New Procurement Tool | Profile, contracts, qualification, spend |
| Asset | New System | Type, condition, book value |
How Data & AI Realizes the Vision
The transformation is powered by a unified data foundation and AI-driven intelligence that turns complexity into competitive advantage.
Unified Data Foundation
Customer, Pricing, Employee, Fleet, and Asset master data consolidated into single sources of truth via Salesforce CDP, Snowflake, and specialized platforms.
Gen / Agentic AI
AI-powered contract clause libraries with risk scoring, predictive labor scheduling, intelligent quote generation, and automated employee placement.
Real-Time Analytics
Snowflake data platform with Power BI dashboards providing earned value reporting, project insights, and executive-level market intelligence.
Intelligent Automation
Automated PO management, timesheet processing, invoice generation, 3-way matching, and workflow orchestration via Azure Integration Services & Workato.
Key Performance Indicators (KPIs)
KPIs tied to utilization, productivity, revenue realization, customer experience - as defined in the transformation program.
CLM SOLUTION Contract Lifecycle Management
| Value Lever | Line of Business (Ind./Comm.) | Baseline | Current Assumptions | Annualized EBITDA Uplift | Validated By |
|---|---|---|---|---|---|
| Pricing Margin Improvement | ✓+ / - | NA '24 revenue: ~$XB, Applicable to industrial only (~77% of NA rev.) | With CLM can better enforce pricing escalation clause in industrial project contracts, enabling 0.25-0.75% revenue increase | Margin Expansion Lever | Imran Hayat, Mack Hickner, Amanda Prugh, William Estes, Joe Flannery |
| Insurance Reserve Funding | ✓ / ✓ | N/A | CLM solution could reduce need to pre-fund reserves | Soft impact | - |
Note: 66% of contracts already have price escalation clauses. Gross EBITDA Uplift @ Steady State: $X-YM
QUOTE TOOLS Quote Tool Integrations & Mobile Enablement
| Value Lever | Line of Business | Baseline | Assumptions | Annualized EBITDA Uplift | Validated By |
|---|---|---|---|---|---|
| Sales Productivity Improvement | ✓ / ✓ | 250-300 OSR FTE | Bottom 50% of OSRs can increase yearly revenue avg by $500K from productivity gain | Revenue Growth Lever | Joe Flannery, Michael Kohlmeier, Conor O'Neill |
| Sales Tax Margin Protection | ✓ / ✓ | ~$10.6M Audit Payment & Open Audits since '20 | 50% of audit payment due to pricing & tax errors; national exposure ~$20M | Margin Expansion Lever | Jeffrey Monday |
| Engineering Margin Protection | ✓ / ✓ | N/A | With improved margin control can improve engineering recovery | Soft Gain | - |
Gross EBITDA Uplift @ Steady State: $X-YM
FIELDTRAX Modernized Field Tools
| Value Lever | Line of Business | Baseline | Current Assumptions | Annualized EBITDA Uplift | Validated By |
|---|---|---|---|---|---|
| Accurate Time Entry / Less Labor Over-Reporting | ✓ / ✓ | '24 NA craft hours: ~XM, '24 NA craft salary: ~$YB, Baseline misreported hours: 438K (1% of total), Applicable to fixed fee projects (38%) | Job-level labor analytics dashboard reduces 15-30% of the 1% misreported hours | Margin Expansion Lever | Billy Johnson, Mike Tuohy, Alec Ebel, Lance Zier & Rick Dunlap |
| Admin Productivity | ✓ / ✓+ | Each branch has 1 admin (50-50 payroll/onboarding split), 200 NA Branches, $35/hour, 50 hr/wk | With Modernized Field Tools, reduce 5 hours of overtime per week | SG&A Reduction Lever | Billy Johnson, Mike Tuohy, Alec Ebel, Lance Zier, Rick Dunlap, Karen Riapos |
| Foreman Productivity | ✓ / ✓ | Average Foreman Hourly Salary: ~$55-60/hr, # of Foremen: ~2,100 | Foremen spend ½ to 1 hour/day on timesheets, reduced by 50% | SG&A Reduction Lever | Scott Holmes |
| Craft Labor Overtime Reduction | ✓+ / ✓ | Craft OT Salary Cost: ~$480M, Applicable to fixed fee projects (38%) | Reduce 1-3% of OT spend on craft labor | Soft Impact | Billy Johnson, Mike Tuohy, Alec Ebel, Lance Zier & Rick Dunlap |
Gross EBITDA Uplift @ Steady State: $X-YM
JOB LIFECYCLE Job Lifecycle Mgmt. & Earned Value Reporting
| Value Lever | Line of Business | Baseline | Current Assumptions | Annualized EBITDA Uplift | Validated By |
|---|---|---|---|---|---|
| Reduced project overrun with better visibility into Earned Value Reporting | ✓ / ✓ | Bottom Quartile of >$250k lump sum revenue: ~$XM, Applicable to projects over $YK | With better earned value management, 25-50% of bottom quartile jobs can improve from underperforming CPG margin (13%) close to 3rd quartile (24.5%) | Margin Expansion Lever (50% attributed to Job Lifecycle Mgmt.) | Billy Johnson, Mike Tuohy, Alec Ebel, Lance Zier & Rick Dunlap |
Note: Jobsite Lifecycle Management & Earned Value Reporting solution is not part of FieldTrax 1.0. Gross EBITDA Uplift @ Steady State: $X-Y M
LABOR Labor Availability & Scheduling
| Value Lever | Line of Business | Baseline | Current Assumptions | Annualized EBITDA Uplift | Validated By |
|---|---|---|---|---|---|
| Efficient Labor Redeployment (to reduce overtime for understaffed projects) | ✓ / ✓ | Craft OT Salary Cost: ~XXM, Applicable to Industrial T&M projects over $250K (31% of revenue) | Reduce 0.5-1.5% of OT spend on craft labor | Margin Expansion Lever | Billy Johnson, Mike Tuohy, Alec Ebel, Lance Zier, & Karen Riapos |
Gross EBITDA Uplift @ Steady State: $X-Y M
CHANGE ORDER Change Order Management
| Value Lever | Line of Business | Baseline | Current Assumptions | Annualized EBITDA Uplift | Validated By |
|---|---|---|---|---|---|
| Reduced project overrun with better visibility into Earned Value Reporting | ✓ / ✓ | Bottom Quartile of >$250k lump sum revenue: ~$XM, Applicable to projects over $250K | 25-50% of bottom quartile jobs improve from 13% to 24.5% CPG margin | Margin Expansion (50% attributed to Change Order Management) | Billy Johnson, Mike Tuohy, Alec Ebel, Lance Zier & Rick Dunlap |
Note: Change Order Management solution and capability is not part of FieldTrax 1.0. Gross EBITDA Uplift @ Steady State: $X-Y M
PROCUREMENT Supply Chain / Procurement Solution
| Value Lever | Line of Business | Baseline | Current Assumptions | Annualized EBITDA Uplift | Validated By |
|---|---|---|---|---|---|
| Reduced direct OPEX spend via SKU consolidation | N/A / N/A | Material COS & Consumables COS ($XXM & YYM) | Material COS & Consumables COS spend can be reduced by 3.23% by moving from decentralized to center-led procurement (Gartner benchmark) | Margin Expansion Lever | Dan McDaniels |
| Reduced Indirect Spend | N/A / N/A | Addressable indirect spend: ~XXM | Indirect spend reduced by 1.5% via center-led procurement (SKU rationalization and demand management) - Assumed 50% of Gartner's benchmark | SG&A Reduction Lever | - |
Gross EBITDA Uplift @ Steady State: $X-YM
CHANGE MGMT Behavioral Change KPI Categories
From Change Management Principle #3: "KPIs tied to utilization, productivity, revenue realization, customer experience"
"Pilot → measure → optimize → scale" ensures early wins gain momentum.
Culture and Change Management
Two Parallel Operational Deployment Pods
"Two pods will operate in parallel to manage multiple initiative rollouts simultaneously, ensuring consistent execution and adoption across the business"
Real Ownership
Field initiative owners lead rollout decisions - not corporate. Business champions serve as ambassadors for each region/function.
Structured Enablement
2 dedicated Operational Deployment Pods for scaled rollout. In-person branch adoption backed by on-the-job reinforcement. Hands-on training focused on workflows that impact profitability daily.
Behavioral Incentives
KPIs tied to utilization, productivity, revenue realization, customer experience. "Pilot → Measure → Optimize → Scale" ensures early wins gain momentum.
Consistency
Standardized playbooks, communications, and escalation paths. Leadership coaching to reinforce accountability in the field.
Next Steps
Upon Approval - Finalizations
Metrics defined by initiative
Pod structure and regional deployment
Governance cadence established
Transformation at a Glance
| Metric | Value |
|---|---|
| Total Slides in Presentation | 43 |
| Growth-Enabling Initiatives | 9 |
| Foundational Initiatives | 4 |
| Implementation Timeline | Jan '26 to Aug '28 |
| Target Break-Even | 18-24 Months |
| Full Value Realization | End of Year 2 |
| Systems Retired | 30 |
| New Systems Added | 9 |
| End State Systems | 28 (from 49) |
Primary Technologies & Systems
BSW Business Performance & Market Position
November 2025 market analysis showing BrandSafway's position across industrial and commercial sectors in North America.
BSW Topline Market Size (US/Canada)
| Year | Commercial | Industrial | Total |
|---|---|---|---|
| 2024 | $7.5B | $13.1B | $20.5B |
| 2025F | $7.6B | $13.2B | $20.8B (+1.5%) |
| 2026F | $7.8B | $13.4B | $21.2B (+1.9%) |
| 2027F | $8.0B | $13.5B | $21.5B |
Market Growth Rate (2024-2028 CAGR)
| Segment | Core | Whitespace | Total |
|---|---|---|---|
| Commercial | 1.9% | 2.8% | 2.4% |
| Industrial | -0.3% | 1.4% | 0.5% |
| Total | 0.5% | 2.0% | 1.2% |
Whitespace and commercial markets offer BSW higher growth potential than industrial core markets
Regional Construction Starts (YTD 2025)
"Industrial markets will continue to provide BSW with substantial revenue but margins in core markets will likely remain under pressure; diversification into whitespace markets should continue, with a push towards markets with high margins and large job sizes (LNG, pharma)."
November 2025 Market Update
Key insights from BSW Market Intelligence & Analytics - providing strategic market data to inform business decisions.
Key Takeaways
Contained inflation, waning labor momentum, and a Fed cautiously shifting toward easing. Growth heavily concentrated in data centers and select manufacturing.
Moderate inflation, labor market stabilizing but not robust, and growth flagging. BoC's next moves depend on whether growth accelerates.
ISM manufacturing PMI at 49.1% (contraction). Dodge Momentum Index rose 3.4% in September, signaling stronger construction spending in early 2027.
2025 construction is narrowing but deepening - fewer projects, bigger scopes, longer durations. Shift from broad growth to selective, mega-project-driven activity.
Macro Economic Indicators
Industrial End Markets Outlook
"Fourth wave" projects advance after permitting pause. Gulf and Canada dominate opportunities.
Onshoring push and tariff risk expand pipeline. Northeast dominates new project activity.
Recovery expected with stable oil prices supporting Canadian operations.
Life extension projects and SMR development continue. Coal retirement delays support nuclear.
AI-driven buildout accelerates but grid/supply bottlenecks slow execution. $1.2B+ opportunities in 2026.
Margins pressured by volatile crack spreads. Turnarounds dominate spend over capex.
Commercial End Markets Outlook
2026 New Project Opportunities by Region
Industrial Capital/Turnaround ($4.2B+ Total)
| Region | Value | Top End Markets |
|---|---|---|
| Northeast | $1,033M | Data Centers, Pharma, Refining |
| Gulf | $1,069M | Data Centers, LNG, Refining |
| Southeast | $725M | Data Centers, Ind. Manufact. |
| West | $772M | Data Centers, Refining |
| Canada | $558M | Oil Sands, LNG, Refining |
Commercial New Projects ($2.5B+ Total)
| Region | Value | Top End Markets |
|---|---|---|
| Northeast | $734M | MFR, Bridges, Educational |
| West | $694M | MFR, Bridges, Educational |
| Southeast | $513M | MFR, Educational, Offices |
| Canada | $293M | MFR, Offices, Educational |
| Gulf | $214M | MFR, Educational, Offices |
Top 10 Industrial Project Owners (2026)
Top 20 owners represent 28% of new industrial capital/turnaround opportunity value in 2026
"The 2025 construction landscape is narrowing but deepening, with fewer projects, bigger scopes, and longer durations. This marks a shift from broad growth to selective, mega-project-driven activity."
CONFIDENTIAL AND PROPRIETARY INFORMATION - DO NOT FORWARD | Source: BSW Market Model, IIR, Construct Connect, Bloomberg