Bearing Man Group (BMG), part of Invicta Holdings, has expanded its business into the fluid power industry with the recent announcement that it has successfully concluded the acquisition of 100% of Goldquest International Hydraulics.
Heavy duty industrial hydraulic power units manufactured by Goldquest
“This strategic investment in a dynamic sector of the engineering business, broadens BMG’s product range and will enable the company to extend its service to the industrial components and services market, significantly expanding our customer base,” says BMG CEO Charles Walters. “The initial R58 million investment might rise to R65 million, depending on the profits of Goldquest in its current financial year and other performance criteria.
“BMG’s strategy is to grow Goldquest through its existing distributor network and support this service through the BMG branches in areas where Goldquest does not have distributors. The management teams of BMG and Goldquest are excited about growth opportunities for the business.”
Goldquest, formerly known as Vickers Hydraulics, has serviced distributors in South Africa’s major industrial sectors for over 50 years. The company, which offers a solutions-based service, rather than simply a parts outlet, has distributor rights for leading hydraulic brands like Eaton/Vickers, Marzocchi, Larzep, Pister, Schroeder, EP Italiana, MEGI and Pilan.
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