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BMG – Bearing Man Group - part of Invicta Holdings Limited, has expanded its business into the fluid power industry, with the recent acquisition of Goldquest International Hydraulics (Pty) Limited.
“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 BMG’s customer base,” says Charles Walters, BMG’s CEO. “The initial R58-million investment in 100% of Goldquest might rise to R65-million, depending on criteria that include Goldquest’s profits in the current financial year.
“BMG’s strategy is to grow Goldquest through its existing distributor network and support this service through the BMG branches in areas where Goldquest doesn’t have existing 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.
BMG’s commitment to providing the best service in a highly competitive industry, has seen the expansion of each division - bearings, seals, power transmission, geared and electric motors, as well as belting, fasteners and filtration - to become major players in each sector of operation.
BMG – Bearing Man Group - part of Invicta Holdings Limited, has expanded its business into the fluid power industry, with the recent acquisition of Goldquest International Hydraulics (Pty) Limited. These are heavy duty industrial hydraulic power units recently manufactured by Goldques
For further information:
Veronique Bezuidenhout
Marketing Manager
BMG – Bearing Man Group
Telephone (031) 576 6221
Fax (031) 576 6383
Email veroniqueb@bmgworld.net
Web www.bmgworld.net