JSE-listed industrial services and retail group Imperial Holdings, via its Associated Motor Holdings subsidiary, yesterday announced its acquisition of a majority holding in the Goscor Group, a diversified industrial and engineering group. Osman Arbee, a director at Imperial Holdings, said yesterday this was a significant development for industry as a whole. “Imperial has financial muscle, access to research and development, and a large southern African footprint, meaning that Goscor’s industrial equipment range will have greater visibility in the marketplace,” he said. The acquisition also comes at a time when Imperial’s business divisions have experienced financial improvement in the first half of the year, since “activity in southern Africa and Europe recovered in some of the sectors in which the group operates”, Mr Arbee said.

Growth in Imperial’s vehicle sales and the benefit of restructuring the automotive businesses last year positively affected its vehicle trading divisions. “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,” Associated Motor Holdings CEO Manny de Canha said. Neil Wilson, CEO of Goscor, said being part of the Imperial group “gives us a new platform, allowing us to take advantage of Imperial’s substantial presence throughout southern Africa”.

Mr De Canha said Goscor’s existing client base and its access to technologies and products offered growth potential for Imperial. Imperial would add its expertise to Goscor’s product offerings. Goscor’s crown forklifts and welding equipment are used in large industrial operations, power station construction and warehouse floors. Mr Arbee said the deal meant that Imperial and Goscor would be supplying to large infrastructure projects, offering a greater turnkey solution.