Imperial Holdings invests in the Goscor Group of Companies
9 June 2010
Imperial Holdings Limited, through its subsidiary AMH, announces that it has acquired a majority holding in the Goscor Group of companies, a diversified industrial and engineering group.
Founded in South Africa, the Goscor Group has been supplying the local market with state-of-the-art industrial equipment and world-class solutions for the past 26 years. It consists of 6 key divisions, and is an exclusive distributor of leading and world-class brands of industrial equipment. Goscor employs 250 personnel and has a national footprint and distribution network, supplying to a blue chip customer base across various sectors of the market.
Commenting on the acquisition, AMH CEO, Manny de Canha said: “Goscor’s strong presence in the industrial equipment market is a perfect strategic fit with Imperial’s core competencies and extensive experience in the fields of transport, distribution and servicing. The Goscor Group’s existing customer base and access to world class technologies and products offers growth potential for Imperial. We aim to add our expertise to the Goscor product offering and together, leverage the opportunities that this acquisition offers.”
Neil Wilson, CEO of Goscor, added: “Being part of the Imperial Group gives us a new platform, allowing us to take advantage of Imperial’s substantial Southern African footprint; it is their financial muscle and solid reputation in the market which will help us to further develop our business. Goscor prides itself on its excellent customer relationships, built on a foundation of exceptional service. We take long-term views on everything we do, resulting in Goscor being a strong and sustainable business which is highly respected in the markets in which it operates. We are delighted to have Imperial executives, Manny de Canha and Osman Arbee, on our board to add their expertise and experience to our team.”
Goscor Lift Truck Company is the sole provider of leading global forklift brands such as Crown, Doosan and Bendi in South Africa. Crown is a world leader in the manufacture of electric materials handling equipment. Its quality, engineering and reliability has allowed Crown to capture nearly 40% of the local market in warehousing equipment. Doosan provides Goscor’s internal combustion forklift and brings state-of-the-art, robust and well priced Korean machines to our market. Bendi supplies the worlds’ largest range of articulated forklift trucks for very narrow aisle applications. Goscor Lift Truck Company accounts for almost 40% of the Goscor Group revenue, and boasts major clients in warehousing, wholesale and retail sectors.
Goscor ARC is a leading South African supplier of welding and cutting solutions. Supplying brands such as Lincoln Electric and ESAB, which the two most dominant players in the world welding market, Goscor Arc’s customers include major players in the steel fabrication, mining, construction and transport industries.
Goscor Cleaning Equipment provides industrial cleaning equipment solutions from a wide range of quality world-class brands including Tennant, Elgin, Ghibli and Vactor. Patented chemical-free technologies result in environmentally friendly cleaning solutions. Customers include contract cleaners, mining, construction, paper and cement companies.
Goscor Power Products distributes Robin Subaru engines, pumps, generators and welders. It is also the South African distributor of the Meiwa and Laku light construction equipment ranges. Goscor Power Products has established itself as a trusted supplier to the plant hire and construction industries.
Goscor Compressed Air Systems is the sole distributor for Sullair Compressors and has been providing the healthcare, cement, packaging and mining industries with holistic solutions since 1984.
Goscor Rental Company is a flexible equipment supplier of lift trucks and industrial cleaning equipment on a daily, weekly or monthly basis. This equipment can be supplied with a qualified operator, thereby enhancing performance and reducing customer risk.
The Goscor Group has offices in Johannesburg, Cape Town, Durban, Port Elizabeth, Richards Bay and Vanderbijlpark. Imperial’s Southern African presence will allow Goscor to stretch beyond South Africa’s borders to reach a broader customer base.
De Canha concludes, “Goscor’s entrepreneurial culture aligns with Imperial’s business philosophy and values, which encourages entrepreneurship and innovation. We look forward to capitalising on the benefits of this strategic alliance.”
Photographs available on request
Distributed by Brunswick on behalf of Imperial Holdings
Tshepo Mophiring 011 502 7425
For more information contact:
Manny de Canha, CEO AMH, 011 821 5504
Neil Wilson, CEO 011 230 2600
Notes to editors:
About Imperial Holdings
Imperial is a diversified industrial services and retail group with activities spanning logistics; car rental; tourism; financial services; vehicle distribution and retail. Imperial operates in South Africa, Africa, Europe and Australia.
Imperial is listed on the Johannesburg stock exchange; the group is run on a decentralised management structure that actively encourages entrepreneurship, innovation and encourages industry specific best practice.
Imperial employs 34 500 people, who are responsible for the growth and continued success of the group that began as a motor dealer in 1948 in downtown Johannesburg.
Goscor Group executive directors
Tony is a qualified CA (SA) and holds a B Comm degree in Accounting from the University of Cape Town. Tony also served on the board of Micor Industrial Corporation LTD, a JSE listed holding company.
Chief Executive Officer
Neil is a qualified Chartered Accountant (CA(SA)). He joined the Goscor Group of Companies in early 2008 after a successful career in banking and asset management.
Selva joined the Goscor Group of Companies in January 1991.