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deal ß ow: Regulatory: Environmental, safety and other regula- tory changes are usually accompanied by deal ß ow, as less agile companies struggle and proactive organizations look to capitalize on their adaptive capabilities. Energy Demand: Despite its boom and bust nature, the energy industry will likely continue on a secular expan- sion path, with competing business models and asset-hold- ers driving deal ß ow. Aging Infrastructure/Fleets: Companies that suc-cessfully balance investment risk in upgraded assets with ß uctuations in demand often Þ nd themselves in an envi- able position to acquire less strategic-minded companies in the long run. Emerging Needs: New demands driven by hot mar- ket segments and new technologies are always a driver of deal-making. For example, many large future dredging projects, and AUV/ROV technology are both likely to spur acquisition activity. Of course, all of this depends upon a reasonably healthy Þ nancial picture and at least some promise of economic growth, both of which seem more difÞ cult to predict than market segment drivers. The Author Harry Ward leads the transportation and logistics practice at The McLean Group, a middle-market investment bank based in the Washington, DC area. Mr. Ward has executive management experience in the marine industry and focuses on mergers and acquisitions for mid-sized companies. He is a US Naval Academy graduate and earned an MBA at San Diego State University. www.maritimeprofessional.com | Maritime Professional | 19MP #3 18-33.indd 19MP #3 18-33.indd 199/10/2013 10:06:48 AM9/10/2013 10:06:48 AM
