Press Releases / News
Bibby Holdings has acquired the entire share capital of Garic Limited, a specialist plant and equipment hire business which serves the UK infrastructure and construction industries.
Bury-based Garic designs, manufactures and hires its own innovative range of equipment which helps contractors address a range of environmental, security and health and safety issues.
Its products include environmentally protective fuel tanks, wheelwash equipment, interceptor drip trays, drum stores and a full range of welfare cabins for construction sites.
Existing shareholders, including founders Lorne and Gary Entwistle, will remain with the company in order to maintain its impressive growth rate which has seen turnover double to £12 million and employee numbers rise to 95 over the last four years.
"Bibby Holdings has funds available for future investments and will be looking at exciting opportunities to invest in businesses with excellent growth prospects."
View from the Team
Lorne Entwistle, managing director of Garic, said: “Garic has secured the backing of a major private company which shares our vision, passion and enthusiasm for extending our range of innovative products. This will provide us with additional expertise and experience which we can leverage to support our customer relationships.
"Bibby is fully supportive of the current structure of Garic and we look forward to working closely with them over the coming years."
Cy Green, chief executive of Bibby Holdings, said: "Garic shares a number of Bibby Line Group's core values such as innovation, integrity and customer service excellence, which makes it a strong fit for our growing and diverse portfolio of companies.
"As a private investor we have the flexibility to structure a deal which aligns the interests of all stakeholders to long-term value creation and we will provide ongoing funding and strategic input to support management’s ambitions.
"Bibby Holdings has funds available for future investments and will be looking at exciting opportunities to invest in businesses with excellent growth prospects."
