Gough Group sold to Sime Darby Berhad

By: Randall Johnston

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  • Earthmovers & Exacavators

Gough Group has sold for $211 million to Malaysian company Sime Darby Berhad, after a 90-year history owning the New Zealand Caterpillar dealership, among its other holdings

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In Australia, Sime Darby Berhad is represented by Hastings Deering, one of Caterpillar’s leading dealers, as well as through Sime Darby Motors’ dealerships for BMW, Volvo, Ferrari and Rolls Royce in Brisbane and Porsche in Sydney. 

Gough Group employs about 950 people across its network in more than 50 locations in Australia and New Zealand.

It's New Zealand Caterpillar dealership is one of the oldest dealerships of Caterpillar equipment outside of the United States.

Gough Group has the Caterpillar dealership with service territory in New Zealand and interests in the transport and materials handling business in New Zealand and Australia.

The buyer is Sime Darby Berhad, one of the largest Caterpillar dealers globally.

"The Gough Group transaction, which would be the largest for Sime Darby Berhad since the pure play restructuring exercise in 2017, provides a rare opportunity for us to enhance our relationship with Caterpillar, and gain exposure to the construction and forestry sectors in New Zealand, further reinforcing Sime Darby Industrial’s footprint in the Asia Pacific region," Sime Darby Berhad’s Group Chief Executive Officer Dato’ Jeffri Salim Davidson says.

"The Gough Group’s transport and material handling portfolio will complement Sime Darby Motors’ commercial truck business in New Zealand, enable growth in aftersales operations and broaden our suite of franchises, essentially strengthening our position in Australasia."

The sale is subject to New Zealand’s Overseas Investment Office approval and the typical completion conditions. The deal is expected to be completed by September 30, 2019.

 

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