the problem that boom have is a lot of their gear is quite old and is still in service from the acquisitions of old brambles depots from the original buyouts.
They struggled to get finance for a while and have now started procuring cranes via European traders on ongoing rental basis.
This pads out the numbers for now but they aren’t paying down their key debt. They have a strong position in the wind farm sector which looks set to continue.
Their crane fleet could be sold for the $25mil or so if it wasn’t done as a fire sale. The returns for the crane industry are a bit different given the assets typically last 20-25years in the field if maintained properly.
the problem that boom have is a lot of their gear is quite old...
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