Monday, October 10, 2016
Wenger and Secoa Look to Merge
Stage Directions: Wenger Corporation of Owatonna, Minn., and SECOA, Inc. of Champlin, Minn., are pleased to announce that they are in advanced talks to combine the two companies. Under the proposal, the combined entity would be wholly owned and operated by Wenger. The shared vision of Wenger – including its subsidiary J.R. Clancy – and SECOA is to provide a superior value proposition featuring the highest quality products and services for all stakeholders in the performing arts industry.
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Wow, this is a pretty big market consolidation. They say they are in advanced talks and that the transaction will be finalized over the next six weeks, so I guess that's a pretty done deal..
My understanding is that Wenger (and really J.R. Clancy) and Secoa are two of the largest installers in the performing arts industry. I wonder how this will affect their product lines, and if the companies will continue to operate somewhat independently, or will operate under one name and one brand. I think Clancy and Secoa also have directly competing hoist products, among other things, so I wonder how they will resolve their overlapped products. In scenarios like this, I wonder if it is more economical to merge corporate headquarters, or maintain separate offices. I suppose that is somewhat dependent on how "merged" the two brands become. I guess I can either see this market consolidation as beneficial to customers by lowering the overhead and therefore cost to designing new performance spaces, or detrimental by removing some large competition from the market.
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