Motorsport ranks among Mark Lawrence's most enjoyable pastimes.
A self-confessed sports fanatic, he revels in the high-powered atmosphere of the Carrera Cup, where his company sponsors a super-quick Porsche GT 3.
But it is in the corporate arena where the newly-appointed managing director of Boom Logistics will need to keep his foot on the accelerator as he steers the mobile crane provider through its next expansion phase.
Late in June, the 42-year-old Melburnian took over from Rod Harmon, who had anointed Lawrence as his successor some time ago.
Under Harmon's stewardship, Boom Logistics grew rapidly to become one of the lifting industry's dominant forces.
The expansion was fuelled by a series of acquisitions and strong internal growth. During the past 12 months, smaller crane companies James Equipment, GM Baden, D&D Crane Hire and Moorland Hire all came under the Boom banner.
Boom Logistics, which became a publically listed company in 2003, employs more than 1400 people, has in excess of 60 depots around the nation, almost 600 cranes and more than 2500 pieces of access and general-hire equipment.
Despite the challenges of the past six months, Lawrence said the company was well placed to take advantage of the buoyant trading conditions.
His target is to double turnover in the next three years. "I certainly believe it is feasible to double our turnover in the next three to four years," he said.
Last financial year, Boom lifted revenue to $350 million, up a healthy 38% on the previous 12 months.
However, net profit rose only 11% to $36.6 million. Adverse weather conditions across the country put a dent in Boom's bottom line.
Cyclones in Western Australia's Pilbara and on the eastern seaboard, and floods in Northern Queensland and in the Hunter Valley in New South Wales had a significant impact on demand.
"You have companies trying to recover lost output, so they tend to defer some of their maintenance activities," Lawrence said. "That obviously impacted on us but if you put that aside, business was quite good.
"We bought four new businesses and they are all performing well. The underlying customer demand is there. It's just an aberration having to deal with those unusual weather effects."
Lawrence, a chartered accountant who joined Boom in 2002 after six years with Bovis Lend Lease, said he would continue to run the ruler over smaller competitors as he explored growth opportunities.
As in the past, expansion will come through acquisition and organic growth. He believes the crane-hire industry will continue to consolidate - there are more than 1800 crane companies in Australia.
"There are key areas where crane services are in demand and that's where you will see the consolidation," he said. "It is also being driven by customer demand. We service mainly blue-chip customers and their requirements are completely different."
Like many businesses, Boom's growth has been largely underpinned by the resources bonanza. Lawrence expects the good times to continue for at least the next three years and quite likely five.
Beyond that he is not prepared to speculate. "The large resource companies have a very good outlook," he said. "You really can't see China or India doing a U-turn."
The one cloud on the horizon, according to Lawrence, is the acute shortage of skilled labour. "These days everybody wants to be an investment banker," he said. "The issue for us is just gaining access to people with skills but we're not alone here."
Lawrence already has highlighted improved after-sales service as a priority. He said maintenance normally was done through distributors who often did not have the capital to do the job properly.
"One of the key drivers in the Australian marketplace, from a crane sales perspective, is after-sales service," he said.
"Historically, it was done through distributors who often did not have the capital necessary to invest to provide the correct amount of after-sales service, facilities, infrastructure or skill-sets.
"That is an area where we would like to get some traction. We've got the largest contingent of crane mechanics in Australia.
"If we make that a bit more customer-facing and provide a national after-sales service capability, then that would be a key catalyst to drive Tadano crane sales.
"When you buy a crane, you want two things. You want to buy a reliable product and, if it does break down, you want instant access to services to get it fixed because it is a revenue-generating asset. You don't want it sitting on the sidelines for six weeks. That would be catastrophic."
Boom Logistics gains about 20% of its revenue from crane sales. It has the sole Australian licence for Japanese-made Tadano cranes but also buys new products from Germany and the United States.
Lawrence said a focus for the next few months would be to restore confidence among investors.
"Off the back of weather-related events, the share price has taken a bit of a hit," he said.
"We've got to get out there in the first half with a number that is palatable to the market to regain some confidence so that we can gain further access to equity."
Lawrence expects WA and Queensland to continue to be the most productive markets for Boom. Last year, the resource-rich states generated 60% of sales.
The company derives more than 70% of its revenue from maintenance contracts to the industrial and resources sectors.
One of Lawrence's first tasks was to bolster his management team. This included the appointment of Iona MacPherson as chief financial officer and elevating former WA general manager Brian Praetz to chief operating officer.
