Powell's Ponderings: In an Acquiring Mode
I’m putting the final touches on a story about contractors who are acquiring struggling contractors in these challenging economic times.
One contractor has been quite aggressive in this, as a way to grow his business. That was the inspiration for the story.
One idea for acquisition is to provide a transition for customers of struggling contractors to a company on more solid footing. That can be done to negate the need for the customer to have to search out another service source. And obviously the expanded service customer base can lead to more retrofit and upgrade options. While taking over or absorbing faltering companies is not necessarily a pleasant topic, it is a fact of life these days.
On the plus side, such moves can provide continued employment for front office personnel and technicians.
While the one contractor noted earlier has been rather aggressive in this approach, I know there are a number of contractors who have also gone the acquisition of struggling company route in recent years as well. In this regard, I’m looking for a few comments from a few of you doing so.
So … if you are a contractor who has acquired one or more contracting companies in the past three years, please send me an e-mail at peterpowell@achrnews.com. Just let me know how many companies you acquired, and the reason you did so. Also, I’d appreciate you including your name and your company’s name and location.
One contractor has been quite aggressive in this, as a way to grow his business. That was the inspiration for the story.
One idea for acquisition is to provide a transition for customers of struggling contractors to a company on more solid footing. That can be done to negate the need for the customer to have to search out another service source. And obviously the expanded service customer base can lead to more retrofit and upgrade options. While taking over or absorbing faltering companies is not necessarily a pleasant topic, it is a fact of life these days.
On the plus side, such moves can provide continued employment for front office personnel and technicians.
While the one contractor noted earlier has been rather aggressive in this approach, I know there are a number of contractors who have also gone the acquisition of struggling company route in recent years as well. In this regard, I’m looking for a few comments from a few of you doing so.
So … if you are a contractor who has acquired one or more contracting companies in the past three years, please send me an e-mail at peterpowell@achrnews.com. Just let me know how many companies you acquired, and the reason you did so. Also, I’d appreciate you including your name and your company’s name and location.