With a first vaccine in sight, we all hope for a modest recovery in 2021.
The electrical industry was impacted to a lesser degree than many other industries; restaurants, theaters, personal services, fitness, travel, etc. As an industry that is ‘essential’ to the economy; providing power, lighting, and safety, we’ve all been affected; but largely remained intact. The PPP program was successful for many small businesses, but we have clients who also have been seriously affected and financially stressed.
Egret and Merrimack Group both fared reasonably well throughout 2020. It wasn’t easy, and it had its share of anxiety and fear of what will happen next. In both companies, our business clients are ‘people’…. Real, working people. Whether we’re assisting them in moving from one employer to another, or in selling their business… it’s ‘real’… emotional, stressful, exciting and terrifying.
I am honored to have had a small part in the success of both companies. My 35+ years of industry experience has given me a wealth of industry relationships; ‘people’ that I’ve known for decades that are willing to offer a hand in assisting or advising how to assist our clients.
My outlook for 2021 is one of hope. On the business side, Merrimack is confident our year will be stronger as we begin to launch the marketing campaign for a new client and continue our marketing for our current clients. We see significant amount of pent up demand in the market for attracting quality companies. The equity investors have billions of dollars in unspent funds that they need to invest. Strategic buyers have renewed interest in expanding their product lines, increase market share or enter new markets. Valuations are still holding fairly well for strong, profitable companies. And the construction outlook is reasonably sound going into 2021.
November is when we pause and say thanks. It’s uniquely an American tradition that reflects the goodness within us all. This year, the list of thanks is infinite: first responders, nurses, doctors, charities, churches, school teachers, logistics workers (truck drivers, store employees, delivery, etc.) and everyone who stepped up to help, in any way.
On behalf of Merrimack and Egret… Thank You for your trust and support and kindness.
