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Is Buying Used Forklifts Worth It? Find Out Here

Forklifts are a common necessity of almost every warehouse, building site, or construction area. Forklifts are one of the most durable vehicles that you can find on the market today – simply because of what they are made for. They can handle tough working conditions day in and day out for years with no trouble at all. If cared for, forklifts can be in good operating condition for up to ten years. Over time, machines wear down and it’s time to upgrade. If you require a new forklift but don’t have the budget for one outright – purchasing used or pre-owned is a great option. Forklifts are readily available on the market, especially if you are looking for a pre-owned model. So, is buying used forklifts worth it? In this article,  we’ll discuss the pros and cons of buying used forklifts.

Pro: Used Forklifts Are Cheaper And Many Great Deals Can Be Found

If you are looking for a forklift but don’t have the budget for one, purchasing a pre-owned machine is a good option.  There are many used forklift models available on the market at a fraction of the cost of buying new ones. Some companies may even offer to sell or lease their used forklifts as an alternative to scrapping them outright as they still have good life left in them. Some websites aim to simplify the buying process by matching you with dealers near you as well as those that are delivering forklifts all across the country, based on your preferences. This way you can easily get in touch with a reputable dealer and make a deal for your machine.

Con: Used Forklifts Have A Higher Risk of Breakdowns And Malfunctions

As compared to new forklifts, used ones have a higher risk of breakdowns and malfunctions. As time passes on, new parts wear out and need to be replaced just like any other machine on the market. Sometimes these parts may not be readily available on the market anymore which could result in long downtimes until they are found or ordered from overseas suppliers. You will also have to consider that if something breaks down on a used forklift that there is no warranty from the manufacturer versus a brand new one which would come with a warranty. In addition, while some used forklifts may be available for sale with a warranty, many of these manufacturers will not cover the machine’s parts if they are defective.

Pro: Used Forklifts Are Reliable And Can Work Just As Well As New Ones

Another great benefit of purchasing a used forklift is that they are reliable and function just as well as brand new models. These machines were made to last for years without issues, so even if it has been in use for quite some time chances are it’s still good to go. Many forklifts that have been on the market for years will still be able to carry the same weight capacity as their newer counterparts. With the proper care and maintenance, these machines can be as good as new. Just make sure you have the mechanics check it out before you buy, so that you know if anything needs to be fixed. You should always do your research and speak with a forklift dealer before you purchase to ensure that you get the most out of your money.

Con: Used Forklifts Have A Lower Resale Value Than New Ones

One of the cons associated with buying used forklifts is that they have a lower resale value than brand new machines. This is especially true if you are purchasing directly from a manufacturer or dealer, as opposed to online through websites. If you plan on reselling your machine at a point in time to purchase a new model, be sure that you will get more money out of it when selling it privately versus going through another dealership or manufacturer – this way you can recoup some of the investment cost from your initial purchase. The amount of depreciation depends on how much mileage was on the machine as well as its overall condition.

Pro: You Know What You Are Getting When Purchasing Used

Another great benefit of purchasing used forklifts is that you can be sure of what to expect when making your purchase. If you are buying directly from the manufacturer or dealer, then chances are they will run a diagnostic check on the machine before selling it to you. This way you know if anything needs repairing and whether it is covered under warranty or not. Most dealerships do not want their customers having issues with their equipment, as this could cause them to lose business from dissatisfied buyers. Also, most used forklifts still come with a standard warranty which covers certain parts for one year or more depending on how long the machine has been in operation at the dealership.

While buying a used forklift may have its cons, it is highly dependent on the situation. If you know what to expect and how the system works, there’s little reason why you shouldn’t consider buying a used machine instead of a brand new one. It will cost less, thus creating more money in your budget for other necessary equipment or improvements. So if you are looking for a reliable machine to make your business run smoother, used forklifts are usually the right way to go.

Eversheds Sutherland Advises NorTex Midstream Partners

NorTex is an independently owned Houston based midstream solutions provider. We currently own and operate high-deliverability, multi-cycle natural gas storage facilities in strategically-located areas. NorTex’s facilities rank as the second largest portfolio of natural gas storage assets in North Texas.

Eversheds is pleased to announce that it is representing client Castleton Commodities International LLC in its sale of NorTex Midstream Partners, a Houston-based natural gas storage and transportation company, to private equity firm Tailwater Capital.

Founded in 2007, NorTex provides revenue optimisation and asset reliability solutions for utilities and power generation facilities in North Texas through strategically located natural gas storage and transmission.

The Company operates the largest portfolio of non-utility gas storage facilities in North Texas. NorTex’s asset base includes 36 Bcf of depleted reservoir working gas capacity, 83 total miles of natural gas transportation pipelines, as well as the Tolar Hub – the largest natural gas hub in North Texas.

NorTex’s storage facilities have operated consistently for nearly 60 years, serving as critical infrastructure for the greater Dallas-Fort Worth market.

CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising, and trading commodities, and the ownership, operation and development of commodities-related infrastructure and upstream assets.

Eversheds Sutherland Overview

As a global top 10 law practice, Eversheds Sutherland provides legal services to a global client base ranging from small and mid-sized businesses to the largest multinationals, acting for 75 of the Fortune 100, 68 of the FTSE 100 and 113 of the Fortune 200.

With more than 3000 lawyers, Eversheds Sutherland operates in 68 offices in 32 jurisdictions across Africa, Asia, Europe, the Middle East and the United States. In addition, a network of more than 200 related law firms, including formalised alliances in Latin America, Asia Pacific and Africa, provide support around the globe.

Eversheds Sutherland provides the full range of legal services, including corporate and mergers and acquisitions; dispute resolution and litigation; energy and infrastructure; finance; human capital and labour law; intellectual property; real estate and construction; and tax.

Infrastructure Team Recognised at 2019 Awards

Infrastructure is the set of fundamental facilities and systems that support the sustainable functionality of households and firms. Serving a country, city, or other area, including the services and facilities necessary for its economy to function.

Norton Rose received Global Legal Adviser of the Year, Asia Pacific Legal Adviser of the Year and North America Legal Adviser of the Year accolades on July 13, 2020.

IJGlobal also honoured the law firm with thirteen Deal of the Year awards for transactions completed in Asia Pacific, Europe and Africa, Middle East and North Africa and North America.

The IJGlobal platform is for market makers to develop key relationships and partnerships to generate leads, build business and deliver projects.

Norton Rose advised on the following transactions:

Asia Pacific

  • Asia Pacific Telecoms Deal of the Year – Kacific-1 Satellite
  • Advised Kacific Broadband Satellites Group on credit facilities totalling US$160 million to finance the construction, launch, ground system and initial operation for Kacific-1, a Boeing-built next-generation high-throughput Ka-band satellite. Led by Nick Merritt.
  • Asia Pacific Hydro Deal of the Year – Tina River Hydro
  • Advised Korea Water Resources Corporation and Hyundai Engineering Company Ltd as sponsors on the 15-MW Tina River Hydro Development Project. The deal marks the first large-scale infrastructure P3 project in the Solomon Islands. Led by Nick Merritt.
  • Asia Pacific Waste Deal of the Year – East Rockingham EfW
  • Advised a group of five senior financiers on the East Rockingham EfW project, which will be the second waste-to-energy facility in Western Australia aimed at addressing Australia’s growing waste crisis. The project was developed by a consortium led by Tribe Infrastructure Group, New Energy Corporation and Hitachi Zosen Inova. Led by Jo Crew.

Europe & Africa

  • European Portfolio Refinancing Deal of the Year – Project Keane Refinancing
  • Advised Brookfield Renewable Energy Partners on the Refinancing of an entire portfolio of onshore wind assets, which includes 17 360-MW projects in Ireland. Led by Rob Marsh.
  • European Refinancing Deal of the Year – Beatrice Offshore Wind
  • Advised a consortium of lenders on the senior debt refinancing of the Beatrice offshore wind project in Scotland. The consortium comprises 29 commercial and institutional lenders and 24 hedging banks. Led by Rob Marsh.
  • European Restructuring Deal of the Year – Irish Schools Bundle 5
  • Advised DIF infra 4 Limited as shareholder of Inspiredspaces Bundle 5 Limited on the restructuring and financing of completion works in relation to the Irish Schools Bundle 5 PPP project. Led by Mark Berry.
  • African Refinancing Deal of the Year – Société Ivorienne de Raffinage
  • Advised Africa Finance Corporation on the debt financing of Société Ivoirienne de Raffinage under a multi-currency long-term credit agreement for approximately US$675 million. Led by Anne Lapierre.
  • African Power Deal of the Year – Bridge Power
  • Advised the lenders to the Bridge Power Project in Ghana, sponsored by General Electric, Endeavour Energy and the Quantum Group. The project is a fast-deployment dual-fuelled LPG and natural gas power project, comprising approximately 400 MW of combined cycle power generation technology. Co-led by Martin McCann, Charles Whitney, Dan Metcalfe and Dan Giemajner.

Middle East & North Africa

  • MENA Water Deal of the Year – Taweelah IWP
  • Advised lenders, including Natixis, Siemens Bank and Mizuho Bank, to the successful bidding consortium, led by ACWA Power, on the US$1.2 billion Taweelah desalination independent water project in Abu Dhabi. Led by Jo Emerson-Taqi and Paul Mansouri.

North America

  • North America Battery Storage Deal of the Year – Lāwa’i Solar and Energy Storage
  • Advised Societe Generale as lenders on the financing of the combined 20 MW solar PV and 20 MW/100 MWh AES Lāwa’i Solar and Energy Storage Project in Kauai, Hawaii – the largest operational solar and storage system in the world. Co-led by Ben Koenigsberg and Jim Berger.
  • North America Utility Deal of the Year – ESAP Modernisation Project
  • Advised the Department of Justice in providing procurement advice and transaction support services to Public Services and Procurement Canada for the Energy Services Acquisition Program’s Energy Service Modernisation P3 project. Led by John Naccarato.
  • North America Wind Deal of the Year – Clearway Repowering
  • Advised Clearway Energy on the US$381 million repowering of two Texas wind farms – the 161 MW Wildorado wind farm in Oldham County and 121.9 MW Elbow Creek wind farm in Howard County. Co-led by Rob Eberhardt and Jim Berger.
  • Latin America Water Deal of the Year – BRK Ambiental
  • Advised sponsor BRK Ambiental Participações S.A in relation to the BRL denominated IDB financing provided in respect of BRK’s wastewater infrastructure project in Recife and Goiana in northeast Brazil. Led by Charlie Johnson.
  • At last year’s awards, IJGlobal recognised Norton Rose Fulbright as Legal Adviser of the Year – North America and the firm advised on 18 Deals of the Year. The year prior, Norton Rose Fulbright was named Global Law Firm of the Year and Europe and Africa Law Firm of the Year, while advising on 15 Deals of the Year.

Clifford Chance advises KKR on €1.5 billion bolt-on acquisition

Telxius has agreed to acquire, from Telefonica’s subsidiary in Germany (O2 Deutschland), circa 10,100 mobile sites in Germany for €1.5 billion. The deal also includes a built-to-suit undertaking by means of which Telxius will build 2,400 new sites in Germany in the next four years so that O2 Deutschland can rapidly scale its tower footprint to meet existing obligations with the German government.

The €1.5 billion consideration will be mainly funded by a capital increase of Telxius to be subscribed by its existing shareholders. In 2017, KKR acquired a 40% stake in Telxius, Telefónica’s global telecommunications infrastructure company. The Spanish telecom giant retains an indirect controlling stake in Telxius, through a partnership with Pontegadea (Amancio Ortega’s investment platform).

The Clifford Chance multijurisdictional team advising KKR was led from Madrid and Frankfurt by Corporate partners Javier Amantegui, Frederik Mühl and Samir Azzouzi and senior associate Jorge Martín Sainz, and included advising on: (i) Spanish law matters by Daniel García and Laura Geli, from Corporate; Rodrigo Uría and Juan Puras, from Finance; and Jaime Almenar and Octavio Canseco, from Regulatory; (ii) German law matters by Gerd Hegele, from Corporate; Dennis Blechinger and Amrei Fuder, from Real Estate; and Dimitri Slobodenjuk, from Regulatory; and (iii) Luxembourg law matters by Christian Kremer, Mélissa Kdyem and Nina Aymé, from Corporate; and Marc Mehlen, Veronika Kaszas and Tjasa Perger, from Finance.

Successful Accountancy Firm Celebrates 12 Deals of Christmas

Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.

The East Midlands office of accountancy firm Mazars says it has advised on 12 deals in the run up to Christmas.

Mazars is a global audit, accounting and consulting group employing more than 42,000 professionals in more than 90 countries through member firms.

The team says it is seeing resilience across the board at entrepreneurial business, acquisitive corporates, banks and private equity investors, despite economic uncertainty.

Mazars Deal Advisory has hired Tom Boss and Jacob Staten in a move which it says reflects the “sustained demand for high quality business advice” in both mergers and acquisitions and due diligence.

The sale of £20m turnover Premier Workplace Services to Hong Kong-based Crown Worldwide took Mazars’ deal completion tally over the last three months to twelve.

Paul Pownall, mergers and acquisitions senior manager, said: “Whilst it’s impossible to avoid the ‘B-word’ in the press, the sentiment towards doing deals remains positive, as businesses seek to capitalise on the economic environment.”

Mazars Deal Advisory partner Julian Clough, said: “Activity levels are strong; acquisitive corporates have been particularly busy as opportunities emerge to consolidate in fast moving markets. We see this as a continuing trend and feel well positioned to advise clients – new and old – moving into 2019.”

Top 10 Biggest M&A Deals Of 2017

In corporate finance, mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organisations, or their operating units are transferred or consolidated with other entities.

Mergers and acquisitions never reached the levels our experts predicted, but the year is still shaping up to be the best year for United States deal activity.

Although most M&A deals ultimately fail to create value for shareholders down the road, it’s hard to say that the economy or markets are truly healthy without them — and that’s not just because investment bankers and corporate lawyers need to get paid.

Businesses don’t do much wheeling and dealing when markets and the economy are in a slump. A pickup in M&A deal activity is a sign of confidence — and investor psychology are as critical as anything to ensuring better times down the road.

Despite notching one of the biggest M&A deals on record, United States M&A deal activity cleared billions, according to Dealogic. That’s a 39% increase over the same period a year ago — and the highest nine-month total since 2008.

Top 10 Biggest M&A Deals Of 2017

  1. Applied Materials (AMAT) Buys Tokyo Electron (TOELY), $10 billion
  2. Spectra Energy Partners (SEP) Buys Spectra Energy Corp.’s (SE), $9.8 billion
  3. American Airlines (AAMRQ) Buys US Airways (LCC), $11 billion
  4. Thermo Fisher Scientific (TMO) Buys Life Technologies (LIFE), $13 billion
  5. Liberty Global (LBTYA) Buys Virgin Media, $16 billion
  6. Publicis Groupe (PUBGY) Buys Omnicom Group (OMC), $17 billion
  7. Comcast (CMCSA) Buys NBC Universal Media from General Electric (GE), $17 billion
  8. Michael Dell and Private Equity Firm Silverlake Buy Dell, $25 billion
  9. Berkshire Hathaway (BRK.B) and 3G Partners Buy H.J. Heinz, $23 billion
  10. Verizon (VZ) Buys Out Verizon Wireless Stake from Vodafone (VOD), $130 billion