Plant firm Garic sold for £20m to Bibby

Bibby Holdings has bought £12m-turnover UK specialist plant and equipment hire business Garic for £20m.

Bury-based Garic employs 95 people and has an 800-strong client base that includes Balfour Beatty, Laing O’Rourke and Carillion.

Bibby Holdings is a specialist division of Bibby Line Group, an investment group with a portfolio that spans the support services, logistics, marine, offshore oil and gas, financial services and retail sectors.

Under the deal Bibby Holdings will acquire the entire share capital of Garic.

Existing Garic shareholders, including founders Lorne and Gary Entwistle, will remain with the company.

Lorne Entwistle, who is also managing director of Garic, said: “This deal is great news for the business, our customers and our employees. 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.”