I greatly enjoyed my time at the Scaffold & Access Industry Association (SAIA) annual meeting in Montreal this week and appreciated the opportunity to speak to the members on the current state of the M&A market for scaffolding companies. A couple of key takeaways from the conference:
1. Clearly the most discussed topic at the convention was the state of uncertainty in the industry caused by the Brand Safway merger. Most at the conference felt optimistic that the merger would create opportunities as current Brand Safway customers come to grips with the new combined entity. Most also saw an opportunity to pursue talented employees that may be available following the integration of the two industrial service giants.
2. While there was general optimism about the current state of the industry and the amount of current projects, there was an underlying concern about a perceived shift away from scaffolding and a shift to more frequent use of scissor lifts and boom lifts as mentioned by Darrell Domokos from Brand Safway in his state of the market address.
3. Many equipment suppliers felt like the industry was put on hold for the first half of 2017 as Brand and Safway stayed on the sidelines as they pursued the completion of their mergers. There was a lot of discussion about increased activity as the merger is behind them and the industry is expected to return to “normal”.
4. Many of the attendees are now eager to see how the Brand Safway merger rolls out and what it will mean for the industry.
To see my thoughts on the state of the industry, feel free to watch the attached video. I have also gathered a few related articles below that you may find interesting.
- 7 Things to Think About When Selling Your Scaffolding Business by Timothy Oleszczuk
- Managing the Scaffolding Sales Process by Marc Wilson
- Brand is Acquiring Safway. Now What? Four Key Takeaways byTimothy Oleszczuk
- The Safway/Brand Merger - An Integration Nightmare byTimothy Oleszczuk
- Q2 Industrial Newsletter byTimothy Oleszczuk
- Scaffolding Inventory Control by Marc Wilson