Barloworld moves out of Iberia

By Sandy Guthrie26 April 2018

Barloworld logo

South African-based Barloworld, Caterpillar’s dealer in Spain and Portugal with BWIberia, is selling its business there to Cat’s dealer in Italy and the Balkans – Tesa, which operates as CGT.

Quinton McGeer, CEO of BWIberia, said that despite the implementation of a business improvement plan, analysis of Iberia, the market potential and growth rates had led the company to conclude that these conditions would not allow it “to achieve the Barloworld group’s return expectations as a South African-headquartered company with emerging market capability”.

In consultation with Caterpillar, he said, it had been decided that the business should be sold to a Caterpillar-approved dealer.

Now, Barloworld, acting through its wholly-owned UK subsidiary, Barloworld UK, will sell 100% of the issued shares in Barloworld International, the holding company for the Iberian operations, to Tesa. The transaction is expected to close no later than 3 July, 2018.

The deal will end 26 years of Barloworld as a distributor in the Spanish and Portuguese service territories. It said CGT had 84 years’ experience as a Caterpillar dealer.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
JLG introduces Quad Tracks
The Quad Tracks are initially available on new 600S and 600SJ boom lifts, as well as some 2-wheel steer models 
New vehicle mount company established in Australia
Waimea Australia is majority owned by distributor Monitor Lifts and will offer products across the country 
Canada’s Canlift partners with XCMG
XCMG unaffected by supply issues, promising shorter delivery times
CONNECT WITH THE TEAM
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail: murray.pollok@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA