FORT LAUDERDALE – The marina industry is ripe for consolidation, according to the executives at Technomarine of Canada and Marinetek Group of Finland, who want to be at the forefront of that trend rather than the tail end.
“You want to combine forces with the companies you select, not the ones that are left over,” explains Claude Barbeau, CEO and general manager of Techomarine Manufacturing Inc., Repentigny, QC, Canada.
Therefore, the two docking system manufacturers entered a joint venture at the end of December. Two new sales companies, one in Finland and one in the United States, are being formed to supply all aluminum and concrete dock brands currently available from both manufacturers.
Barbeau explains that Technomarine is looking to provide the best solution for its clients and “sometimes it involves other products.” The market is currently divided by product, he adds. But marina owners, some of which own multiple properties, often require both concrete and aluminum docking products. If you carry only one line, you lose efficiency, he points out.
For that reason, other partnerships are not out of the question, according to Barbeau and Kent Johansson, President of Marinetek
“Our main goal is to serve the customer in the best way we can,” comments Barbeau.
Financing: A competitive advantage
A few years ago, there were lots of marina projects that had been financed but were waiting for permitting. Today, there are a lot of projects with permitting waiting to be financed.
For that reason, Marinetek and Technomarine believe they have a significant competitive advantage. Not only do they have the capability to lead a project for the marina owner, they also can provide financing solutions.
“There is almost no money in the market to access,” says Johansson. “With a financing solution, our future looks really bright.”
That solution is a banking expert on their team who will shop for the right financing source for each project, he explains.
The new European company will be jointly owned by Technomarine, Marinetek Group and Marinetek DAS of Turkey and will cover the European and Middle East markets. The North American venture, which includes sales to the Caribbean, will be jointly owned by Technomarine USA and Marinetek North America.
The companies already have successfully worked together. Marinetek has worked with Technomarine in Turkey and completed two major projects at Çesme Marina and Kas Marina. They have a combined global portfolio of over 2700 marina installations in over 50 countries.