Sign of the times11 December 2008
I'm getting an increasing amount of calls from city firms researching the global overhead lifting market. There are a number of reasons for this.
Mergers, acquisitions, sell-outs, private equity activity, administration and market studies all see financial experts and market researchers knocking on the doors of trade journals seeking information. We seem to be the first port of call; an avenue to the marketplace.
I touched upon the increasing amount of acquisitions in a previous blog. Hard financial times put pressure on firms and the larger companies are keen to snap them up to gain greater geographical and market exposure.
Of note, Konecranes has expanded its machine tool service (MTS) activities with the acquisition of three companies in the UK.
Fellow Scandinavia firm Erikkila, meanwhile, has acquired Lithuanian lifting equipment company UAB Odvila.
Across the pond, Delta Rigging & Tools has acquired Kelly Wire Rope. Kelly employs 35 full-time employees and all are expected to remain with the company.
This won't be the last acquisitive activity we see.
One high profile firm, which works "closely with the world's leading institutions to create and deliver the essential advantage they need to survive and thrive in a changing world," was on the phone only yesterday morning.
It works with the world's leading businesses, governments and organisations to "create and deliver essential advantage by building capabilities and successfully navigating through critical junctures in their business."
We help clients lead transformational change, it continues. Anyway, to cut to the chase, one such client has given it a crippling brief, which I thought I'd share with you. It demonstrates the hunger, moreover, desperation of folk to decipher the financial mangle, understand it and, in turn, somehow benefit from it. Either that, or it demonstrates a base will to survive.
This particular firm wanted:
- market data on the main product areas
- industry experts that they could interview for approximately 15 minutes
- a list of manufacturers for the main product groups
- references to consultants and publications
Three main geographical regions: 1, Europe, Middle East and Africa; 2, Americas; and, 3, Asia Pacific and China.
Information about the main types of products:
Standard lifts (light industrials, 100kg to 100t)
- industrial cranes (if there is a definition of this that would be very helpful, it says)
- chain and wire hoists
Heavy lifts (more than 100t)
Servicing of the above two
- spare parts
- logistics and supply chain solutions
Data need (in order of priority):
- market sizes (price and quantities if possible and preferably split by geography and product)
- key market trends
- key product drivers
- historical figures, approximately five years
- future forecasts, approximately five years
How can one provide this volume of accurate data for any market, let alone the entire world?
These are trying times, for sure, and some will stop at nothing to ensure they are among the few success stories of the next 18 months or so.
Blog by Richard Howes, Editor