Bil-Jax, Inc. announced that effective July 24th, 2008 it has been acquired by the US subsidary of Haulotte Group, SA.
The global access market is highly competitive and growing at a fast pace. The resulting benefits of scale along with associated capital costs for product line expansion contribute to a time of industry consolidation and convergence. Today, this market is increasingly dominated by three players. Together, Haulotte and Bil-Jax will offer a competitive choice and better fulfill the needs of customers and partners.
“We have taken the next natural step of growth and together can offer an increasingly exciting set of access solutions for consumers, while becoming better positioned to compete in the access market,” said Jeff Ott, Chief Executive Officer of Bil-Jax, Inc. “We believe this alliance with Haulotte Group will deliver superior value, better choices, and more innovation to our customers and industry partners. Additionally, it will increase products offerings and create a position outside of the US.”
“This acquisition will assist us in further developing our business,” stated Alexandre Saubot, Haulotte Group Chief Operating Officer. “This will allow us to strengthen our worldwide position, increase our product offerings, and establish a manufacturing presence in North America.”
Synergies will be focused in four main areas: 1) scale economics driven by Haulotte’s strong market position for aerial work platforms and Bil-Jax’s 60 year history as a leader in North America for scaffolding and niche aerial work platforms; 2) integration of engineering talent and resources to accelerate innovation and product development; 3) streamlining operations through increased purchasing power and elimination of redundant costs; and 4) providing a complete access solution for customers in product and support areas.
Both companies are currently developing a comprehensive plan focusing on the integration of the combined business. Haulotte Group anticipates that this integration will be completed at the end of year 2008. In the interim, both companies will continue to provide excellent products and services to their customer base.