Who we are• Akkerman is a recognized worldwide competitor, manufactures a full range
of pipe jacking and tunneling equipment.
• Akkerman offers sales and service domestically and internationally through strategically located dealers and sales organizations.
• Akkerman was founded in 1973 by Don and Marlys Akkerman.
• Akkerman is a second generation privately held, family-owned and operated company currently transitioning into third generation.
• Akkerman equipment is engineered and manufactured at its corporate headquarters in Minnesota in a 65,000 sq. ft. facility.
What we are aboutVision Statement:
Goal Driven For Customer Success!
Mission Statement:
We develop, manufacture, market and support quality equipment that accurately installs a variety of underground infrastructure.
Core Values:
We provide high quality engineered products to our customers at competitive prices.
We provide a safe and secure workplace for our employees.
We honor our warranty.
We solicit input from our employees, customers and suppliers.
What we make
• In 2001, we began manufacturing Guided Boring Machine (GBM) systems, also known as Pilot Tube Microtunneling. These machines install 4-48” (102 - 1,219 mm) OD pipe with grade and alignment precision.
• Akkerman began manufacturing tunnel boring and excavator shield systems in 1973, the TBM diameters are from 48-168” OD (1.2-4.3 m). They direct install pipe from 48-114” (1,219 – 2,896 mm) OD.
• Began manufacturing slurry Microtunneling systems for the domestic market in 1995, MTBMs direct install pipe from 30-94.5”. (760 – 2,400 mm) OD.
• Akkerman began manufacturing Earth Pressure Balance equipment in 2005 for Diameters from 102+” OD (2,591 mm.) Each machine configuration is custom ordered to specification.
Increasing Your Business Value
• Debt
• Equity investments
• Margins
• Innovation/Rivers of Cash
• Acquisitions
• Board of Directors/PBA group
• Utilizing Enterprise Minnesota Services
Debt• Debt has never been so affordable as now.
• Debt when managed properly can allow you to grow your business.
• Businesses have needs to grow, inventory, plant and equipment, etc.
• Debt can also hide poor business practices such as bad receivables, bad inventory, bloated overhead, etc., so be careful.
Equity
• Most businesses will never do an IPO.
• If possible seek out and utilize “friendly” equity partners if available.
• Make sure terms are clear and understood.
• In the 1990s Akkerman had 3 equity partners. Today we are 100 % whole.
Margins
• Know your true costs.
• Price yourself to what the Market will bear.
• Sales numbers are just numbers, margin dollars are what count.
• Keep your company well balanced between direct labor and indirect labor costs.
Innovations/Rivers of Cash
• We must always be thinking of what is the next best thing.
• If we are not updating our products or adding new products we will decline.
• Selling to established customers is always easier, less expensive.
• At Akkerman since 1987 we have gone from one product line to 4 and updated all product lines several times.
Acquisitions
• Purchasing another company can offer opportunities to maximize underutilized capacity and people resources.
• In some cases you may be eliminating a competitor.
• Be careful to research prospective purchases and make sure they fit with your business model/strategy.
Outsider Board of Directors/ PBA Group
• Akkerman’s first Board formed in 1995
• Boards can offer great advice and guidance
• Having a Board gives Lenders/Equity partners more peace of mind.
• In 1998 Akkerman was struggling and brought on a Board member to be the interim CEO
• PBA groups can be utilized as an Advisory Board
Utilizing Enterprise Minnesota’s Services
• Leadership Training/Employee Development
• Transitioning/Succession Planning
• Marketing
• Streamlining New Product Development
• Financial Analysis/Performance Benchmarking
• Strategic Planning