World Finance On Buckner – Financial management company Markel has announced an undisclosed investment in Buckner Heavylift, a fourth-generation crane manufacturer in Graham, North Carolina, USA.
Commenting on the deal, Buckner CEO Doug Williams said: “Buckner is in a strong position today, and our partnership with Markle helps make that happen. We are getting more support for our ambitions to grow, but nothing has changed in our approach, we remain the humble, hard working family that we have always been. We are happy to continue as managers and owners of this great business, knowing that this is the right decision “forever” for Buckner.
World Finance On Buckner
In an exclusive interview with the magazine American Cranes & Transport, which is part of the KHL group, Williams said that he will continue to be the CEO.
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“Our family still has an important hand,” he said. “Markel is an investment partner. He will not be involved in running the company, so our team will remain intact, with a long-term plan to hand over the reins to Meredith Williams (currently EVP of Operations and Williams’ daughter) at the appropriate time. Time. We will see a general change with Markle’s investment in the company. “
“This agreement will greatly improve these programs, which is true, beyond our dreams,” he said. “In key markets, we never change the fact that we are a specialist heavy duty crawler business. This investment will help us focus on markets outside the US.”
Regarding the emergence of Markle’s agreement, Williams said that it began to emerge about a year ago and was a result of the Covid-19 pandemic that allowed time to look at the bigger picture.
“Instead of focusing too much on our hard growth and daily work, I slowed down and looked for other ways,” he said. “At first, it seemed strange to me, but as I read more, I began to understand that with the right partner, where Markle is the right partner, it was the perfect thing for our employees, clients and customers. suppliers.”
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According to Williams, what makes Markle different is that “they don’t give private money and they don’t work with that kind of mentality. They do not interfere in the management of their funds and hold their investments. They are not doing this to split the company or their finances. His history and other company finances prove this.”
Markle has never been in the crane business before, and Williams said he has no plans to involve anyone other than his investor. He called Markle a “silent key investor”.
“The surprising thing is that we are now part of a Fortune 500 company,” said Williams. “We have an $18 billion company behind us. The opportunity to get out and see aggressive growth in the future would be huge.”
Although Williams did not disclose the type of aggressive growth the company will pursue, a major exposure to the wind power market and the offshore wind power market Buckner heavylifts is already underway.
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“This investment will strengthen our offerings in this and other emerging markets,” he said. “Our management team will not change and the Williams family will remain the main owners. Markle’s culture is similar to ours. It’s a win-win.”
Clyde Preston Buckner founded CP Buckner Steel in 1947. Starting with concrete reinforcement, Buckner now has 200 employees and the largest collection of crawler excavators in the world. The majority of the company’s work is for large commercial contractors involved in wind turbine installations, field and factory construction, and crane hire. Buckner also provides lift scheduling, field technicians, operators and engineers.
“For four generations, Buckner has been family owned and operated, meeting the complex needs of its customers every day in the heavy construction industry,” said Markle Corporation Co-CEO Tom Gainer. “When a client needs a load – and a heavy one at that – Doug, Meredith, Michael and the entire Buckner team are there to make sure the job is done safely, quickly and with the cooperative spirit you’ve come to expect in the construction business. for a long time.”
Buckner Heavylift is ranked 7th in the IC50 list of the world’s largest crane companies published by International Cranes and Specialized Transport magazine. The company is ranked 6th on the ACT100 list of the largest crane companies in North America published by American Cranes & Transport.
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Buckner operates one of 168 crawler cranes, the largest of which is a Lieber LR 11350 with a lifting capacity of 1,350 tons.
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Understanding tower crane rental contracts was presented last week at the Crane and Rigging Workshop in Chicago, USA. It is possible that the proposed One Central project will be useful for urban transport. But so far, Wisconsin-based Landmark Development has failed to justify a project that would include a transit hub built by closing a long stretch of Metra rail west of Soldiers Field in the South Loop. The developer is seeking government funding of 6.5 billion. So the State Rep. Cam Buckner is trying to stop what he describes as a “behind-the-scenes effort” in Springfield to approve funding.
In addition to the transit center, One Central will include high-rise buildings and a new park, and Landmark says the mega event will help better connect attractions like the stadium and museum campus to Kego’s existing transportation network. The $20 billion project, which is expected to take 15 years to complete, includes building a large arena on the tracks, erecting new towers, plazas and walkways.
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The transit hub is expected to connect rapid transit lines to the Near South Side, connecting residents and office workers to the CTA’s Orange Line, as well as Metra and Amtrak services. According to Landmark, the proposed “-line” distribution system would transport people “across Lake Shore Drive, around the museum center, to the parks and Navy Pier.”
However, in February, conservatives at the Kago Tribune rightly pointed out that Landmark has yet to make a strong case for why their big plan needs more government funding. “For us, this area of transportation is not clear and it is about the burden it will bear on the taxpayers of the state.”
Yesterday, Representative Buckner, the Speaker of the Illinois Black House of Representatives, introduced House Bill 4075 in the House of Representatives, which states that the Public Finance Act would be amended to remove provisions for central funding from the Illinois budget of $1,000. More pages in 2019. Bill “Governor [J.B.] Pritzker is not interested in allocating these funds to One Central, and I applaud him for that,” Buckner told StreetsBlog. “But I wanted to make sure the $6.5 billion didn’t go over.”
“Most of us [state legislators] feel we’ve been shut out of this conversation” about funding One Central, Buckner said, citing his state representative Lamont Robinson and state senators Mattie Hunter and Robert Peters. Buckner added that the lawmakers spoke with Landmark representatives in early 2019. “Somehow [subsidy provisions] are still in the bill. It was one of Springfield’s classic trials. We sent a letter to the governor and said we think something is going on.
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Buckner said he’s not sure who was responsible for including funding for One Central in the 2019 budget bill, though he’s heard rumors about who was responsible and that it was a last-ditch effort. “It’s not about not supporting the job, it’s about not supporting the program.”
A state spokeswoman said passing HB 4075 would require a committee hearing, a full House vote and then the Senate, and time is running out to do all that this year. But he hopes the legislation will be passed during the 2022 legislative session.
While Buckner said he is not opposed to One Central as such, he indicated that he views the transit hub proposal as a distraction from Illinois’ most pressing public transportation funding needs. “Our transport companies must consider how to maintain and coordinate existing services while considering new capital improvements and plans to reduce fares and improve service,” he said, pointing to the Fair Transit South Cook campaign, which has already completed Half. and increased service on the South Side Metra line. “Right now, this [One Central] discussion is sucking up all the oxygen in the room, and I think it’s a mistake.” Every mission, every migration we have done, involves children, family members, grandparents and relatives.” Dale Buckner joins Yahoo Finance to discuss the latest updates.
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