Somero Enterprises Stock

Somero Enterprises, Inc. designs, assembles, remanufactures, sells, and distributes concrete levelling, contouring and placing equipment, related parts and accessories worldwide.

The company also provides training services. The company serves small, medium and large concrete contractors; and self-performing general contractors. The company sells products in 90+ countries.

Products

The company’s products are laser-guided, technologically innovative machinery used in horizontal concrete placement. By using the company’s products, customers could expect flatter floors, increased productivity, and higher efficiency.

The company’s revenues primarily consist of sales from Boomed screed products, which include the S-22E, S-22EZ, S-15R and S-10A Laser Screed machines; sales from Ride-on screed products, which are drive through the concrete machines that include the S-840, S-485, S-940 and S-158C Laser Screed machines; remanufactured machine sales; 3-D Profiler System; Somero Line Dragon; and Sky Screed 25. Other revenues, which primarily consist of revenue from the sale of parts and accessories, the sale of other equipment, service, training and shipping charges.

Somero Line Dragon

In January of 2019, the company acquired Line Dragon and the synergies from this acquisition have resulted in the industry’s advanced Placer and Puller machine. Introducing the next generation, the Somero Line Dragon LinePulling and -Placing System.

Somero Sky Screed 25

The Sky Screed 25 provides labor savings, improved floor quality and increased productivity. Primarily, the Sky Screed 25 is the first step in a longer-term product development journey to penetrate a completely new market segment for the company, structural high-rise applications.

Applications

The company’s equipment is used to place and screed the concrete slab in all commercial building types, including all floors in multi-story buildings. Its equipment has been used in construction projects for an array of the primary organizations worldwide, including Amazon, Walmart, Costco, Home Depot, B&Q, Carrefour, IKEA, Mercedes-Benz, Coca-Cola, FedEx, Tesla, and Prologis.

Strategy

The company’s strategy for growth is to leverage its strengths, expand and deepen its worldwide footprint, and continue to provide innovative products.

The company’s strategy is to provide innovative products and solutions to concrete flooring contractors that enable them to attain the highest level of flat-floor precision at the lowest cost, and to develop and penetrate the worldwide market for its products and services.

Patents

The company offers 14 products protected by 73 patents and patent applications.

History

Somero Enterprises, Inc. was founded in 1985.