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A cherry picker (also known as a boom lift, man lift, basket crane or hydraladder), is a type of aerial work platform that consists of a platform or bucket at the end of a hydraulic lifting system.

Articulated lifts, also known as boom lifts or hydraulic platform are almost exclusively hydraulically powered, and are the closest in appearance to a crane. They consist of a number of jointed sections, which can be controlled to extend the lift in a number of different directions, which can often include ‘up and over’ applications.

A scissor lift is a type of platform which can usually only move in the vertical plane. The mechanism to achieve this is the use of linked, folding supports in a criss-cross ‘X’ pattern. The upward motion is achieved by the application of pressure to the outside of the lowest set of supports, elongating the crossing pattern, and propelling the work platform vertically. The Platform may also have an extending ‘bridge’ to allow closer access to the work area (because of the inherent limits of vertical only movement). The bridge is also known as “extendable deck” option.

Brief industry History:  Let’s go back for a little history. In 1993, the industry had just recovered from a massive downturn in business in the early ’90s and most observers expected sales to climb about 15 percent annually for a few years. Sales had been good in 1993, with scissor lifts up about 40 percent over the low point in 1992. Then came 1994 and sales jumped almost 80 percent; ’95s sales popped 47 percent and finally ‘96 came in with another vault of 20 percent. Total sales in 1996 were estimated in excess of 33,000 scissor lifts.  In the boom machines, sales for 1996 were close to 12,500 units, which compares with about 4750 units in 1993. Sales were up more than 50 percent in ‘96 vs. ‘95.  Where is all of this demand coming from? Most is coming from the rental equipment business. Machinery dealers have built huge rental fleets of these machines, primarily because they see the rental fleet as a way to make a lot of money and the best avenue through which to sell the machines to the end customers, generally contractors in the building industry.

Aerial work platforms are also being purchased by the independent rental houses such as Hertz Equipment Rental, Prime Equipment and U.S. Rentals.  At last count, there were about 25 manufacturers selling these machines in North America, most of them stationed here full time, with a few importers from Europe. Names such as JLG, Simon, Skyjack, Snorkel, Mayville, Grove and Genie are the big players in the boom and scissor lift markets. Then come a slew of companies that share the “what’s left” category.  Without doubt, the biggest of the aerial work platform companies is JLG, which is the Caterpillar of the work platform industry. While you can’t equate the two companies in terms of size, they are similar in market penetration and leadership in the business.

JLG, based on our estimates, accounted for about 23 percent of scissor lift sales in 1996 and approximately 38 percent in boom lifts, where it dominates.  JLG’s sales have climbed from $123 million in 1993 to $413 million in 1996 and should be in the range of $500 million for the year that ended this July 31.

Skyjack, located in Guelph, Ontario, Canada, is second in the scissor lifts, ranked closely behind JLG. The company is another success story in recent years and achieved sales results for the fiscal year just ended of $197 million (Canadian) versus $129 million for the prior year, a 53 percent increase. The company’s scissor lifts account for an estimated 83 percent of total sales, while expansion into self-propelled boom lifts and truck lifts is growing rapidly and now accounts for about 17 percent of the total.  In the scissor lifts the top players after JLG and Skyjack are Upright, Mayville, Grove (Manlift) and Snorkel in that order.

Upright, based in Selma, Calif., accounts for about 14 to 15 percent of the scissor market and has been growing at a fast pace like the other major suppliers.

In the boom lifts, Genie is a distant second behind JLG, followed by Grove and Snorkel. The top four companies in the boom lifts account for over 75 percent of the industry’s sales.  One of the eye-catching events thus far in 1997 has been the acquisition of Simon Aerials by Terex Corp., which already has Mark Industries as part of its stable of businesses. Simon and Mark together will be a major force in the scissor lift business, as well as the boom business. The Simon Access purchase cost Terex $90 million.

Terex Cranes, a subsidiary of Terex Corp., will operate the access business and the Mark and Simon brand names will disappear, to be known in the future as Terex Aerials.  Thus far in 1997, sales of machines continue to move forward, perhaps at a slower rate than seen in recent years, but ahead nonetheless. We are looking for growth of about 5 percent in the domestic market this year at best, some of which may be inventory building.  Yes, there will be a downturn perhaps in the next year or two, but not like the one that devastated the business in the early ’90s. And I’ll go out on the limb and say that there will be consolidation within the industry as companies not having aerial work platforms among their product offerings will seek those that do.  <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://www.boom-scissor-lift.com”>Great Deals on Genie, Grove, JLG, Snorkel, Lull</a>

Today’s economy is all over the place and conventional work truck financing and leasing has dried up at many banks and/or lending institutions. Work and commercial  truck owners can seek and find special finance and lease opportunities in the secondary markets where there are repos and off lease trucks to be secured for acquisition.

These acquisition deals and related finance deals are spread out from California to the East Coast and enables start up and seasoned owner operators an unique opportunity to acquire a work trucks, trailers and related items for little or possible no money down… Some dealerships are tied to local or regional banks for built financing on these trucks. The clearance of these work trucks and related trailers are paramount for these dealerships and banks to continue operations.

 Some lenders offering repos and off work trucks in the repo market offer these trucks with a minimum credit score of 550. This gives the startup and/or seasoned business an opportunity to start and/or expand their fleet with bad credit. This opportunity would have never existed in the past. Other lenders offer no credit check but are reference and income driven to make sure they have qualified a good candidate to take over one of their over the work trucks.

The work truck financing and leasing doesn’t stop here, others lenders with good credit and time in business offer no down payments and up to 60 months to repay. This obviously gives the over the work truck owner operator an unique opportunity to acquire work truck financing.  Other work truck financing. leasing programs start at 575 and the down payments can be anywhere from 6-10% down based upon the applicant and the specific work truck. In addition, if you are a cash buyer, there is large opportunity to acquire a work truck at a substantial discount…

.In today’s economy, we have even found reference driven lenders, credit reports aren’t considered as the main criteria for financing and leasing. Prior Bankruptcies can be a roadblock for many finance deals, however these lenders will look at them on a deal by deal basis and in most instances will not be a deal buster…All trucks are reconditioned and subject to your inspection prior to release….

The residual buyout clauses in these lenders can range from a $1.00 buyout to 15% residual buyout( Trac lease) So it is important to understand your buyout Clauses and the effect on your particular deal..

The types of work trucks we are talking for financing and leasing are built by:

Peterbilt, Kenworth, Freightliner, Mack, International, Volvo. Sterling, Ford, GMC etc

 In conclusion, this is a buyers market for owner operator trucks, and  trailers,   . Check out all the deals in the market and make sure that you have a stable income base to assume whatever finance and lease arrangement that you may occur.

 Happy hunting for your acquisition and related work truck finance and lease opportunity.