KCI Konecranes’ acquisitions people have a reputation of being attracted by a bargain.
And certainly the R Stahl Foerdertechnik deal is about money. But not quite like you may think.
R Stahl Foerdertechnik was starved of cash by its parent, Stahl AG. But not because of a lack of money – because of a lack of interest. Although KCI Konecranes made the first approach, Stahl AG wanted to sell, so that it could focus on its explosion-proof switch-gear product line.
Stahl is a typical example of an old diversified industrial company with different product lines based around synergies of supply – in this case, explosion-proof know-how – rather than synergies of demand.
Although in a strict sense it is of course a competitor, looking more broadly, KCI Konecranes shares the same knowledge and interest. Surely Stahl’s goals and values are more likely to be understood and cared for by crane guys than industrial generalists.
This is why I believe that Stahl Foerdertechnik benefits from this deal. In KCI Konecranes, Stahl Foerdertechnik has found owners who know cranes.
Many hoist manufacturers are still owned by diversified industrial firms: GIS of Switzerland, and the USA’s Ingersoll-Rand Assembly Solutions come to mind.
Might not these companies find more sympathetic owners in the hoist industry?
