| Operation Fort: Furmanite | ||
| Company Overview: | ||
| Publicly Traded (NYSE: FRN) | ||
| 2012 Annual Revenue: $326,492,000 | ||
| Furmanite provides specialized (under pressure) products and services primarily to electric power generating plants, the petroleum industry, chemical plants and other process industries. Through its parent company and subsidiaries Furmanite provides these products and services throughout North America, South America, Latin America, Europe, the Middle East, Africa and Asia-Pacific. | ||
| Challenge: | ||
| Furmanite quickly needed a new facility to accommodate their growing Midwest operation. Their previous facility had the unique amenities necessary to operate their business, but the location and image were far from ideal. The challenge presented to Fort Inc. was finding a new facility that better represented the company’s image in a location that was central to their client base, and that would help attract new employees as the company grew. Furmanite’s equipment, and the products they service, required heavy power and loading doors that were not prevalent in their desired product type. | ||
| Strategy: | ||
| 1. | Identify existing buildings that closely fit Furmanite’s unique business needs including: | |
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Desired office to warehouse finish | |
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Product loading necessities | |
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Heavy power requirement | |
| 2. | Map customer locations and identify facilities within the desired proximity to clients. | ||
| 3. | Identify properties that fit Furmanite’s corporate image while providing an atmosphere that would better assist in attracting new employees. | ||
| 4. | Create a contingency plan that reinforced our negotiating position. | ||
| Results: | |
| Fort Inc. quickly identified a facility located directly between Furmanite’s two largest MN clients. The facility included a professional appeal that would allow them to more effectively recruit (and retain) employees, while also portraying a better corporate image to their clients. The office, warehouse, and loading area were designed in a way that fit Furmanite’s unique business model very well, but the facility lacked the power needed to run their equipment. Fort Inc. created a competitive environment utilizing viable alternatives to negotiate a 5 year lease term which included rent concessions and an improvement allowance from the Landlord to upgrade the building’s power to Furmanite’s specific electrical requirements. | ||
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