The Okuma Hat Trick: Three Solutions at Once
February 5, 2021 | Troy Clark
Every once in a while we’re able to help the right hand find the left hand and get a deal done. But sometimes a third hand is needed to make the circle whole.
In August of 2020, we took a call from an oil & gas manufacturer in Texas who was struggling because of the low oil prices and Covid-19 slow down. He’d been referred to us by a local customer of ours, and needed to lighten the load quickly. They had three 2019 OKUMA LB3000MYW CNC turning centers, and they’d been told we could help move them. Our answer? “Yes, we can.”
We got to work immediately and managed to quickly sell one of the LB3000’s in a matter of weeks. Fortunately things started to turn around for this seller, so much so, that they informed us they would be able to keep the remaining two machines. Great news for them! Oil was headed back up, people were starting to drive again, and by selling one of their machines, we helped them stem the tide. Our process had worked!
Fast forward to December 2020 and that same customer called us to say they now needed us to find them an LB3000MYW – the very machine we had just sold for them 4 months prior. Work had picked up significantly, and they were tapped out with machining capacity. Again, our answer was, “Yes, we can.”
Ironically, we had the perfect machine for them.
Back in August when we sold their 2019 LB3000MYW, the rigger that was hired to move the machine told us that he’d like our help selling one for him as well. He explained it was part of the original package of three that the above customer had ordered from Okuma in 2019. Some cosmetic damage upon install made it unacceptable to the original customer, so the rigger took it to his place hoping to repair it and recoup the costs at a future point. The rigger contracted us to sell the machine for him. We had no idea how the story would end.
Fast forward to December 2020. Oil work picked up and our original customer called and said they needed to now find another LB3000MYW – STAT! PROBLEM: they couldn’t take on any more debt. Had to sell another machine, this time an Okuma MB5000H.
So let’s get this strait: the seller of the LB3000MYW needed to purchase an LB3000MYW, but couldn’t until we sold their MB5000H?!! Okay, no problem… “Yes. We. Can!”
We found a buyer for their 2019 Okuma MB5000H just in time. Lined up the Okuma tech to perform the inspection on the horizontal machining center, worked with the banks, got it freed up from liens and encumbrances, invoiced and forwarded funds to the seller; accepted funds from the seller of the MB5000H to forward to the rigger (seller of the next LB3000MYW)… WHEW!
We had performed our process, confirmed machines were free and clear and could immediately deliver the machines to all parties in the timeline required. Our team is fantastic. Our business manager handled all the paperwork and banks, our sales team kept a cool hand at the wheel, keeping all parties happy. They made it happen. And the buyers purchased the machines they needed at the discounted prices they hoped for.
The Okuma Hat Trick - Helped customer "A" sell to customer "B" so that customer "C" could sell to customer "A". We can’t promise that all deals work out that seamlessly, but in this instance, we were able to help a customer buy a machine and sell a machine, at the time when they needed it most. That’s what we do. That’s our job. Ultimately, that’s why we’re in business. Let us know how we can help you next.