Future assured for loading systems businesses
The future of the Joloda International loading systems businesses have been secured through a private ‘Buy-In Management Buy-Out’ (BIMBO) deal, which sees the arrival of a new, investing CEO, supported by two of the group’s existing directors
Majority share owning executive chairman Wojtek Kordel, who led the original acquisition of the company from the York Trailer Group in 1982, steps aside into a non-executive director role, to lend continuity and shareholder representation on the new board. Commercial details of the sale are not disclosed.
Joloda International now comprises the original core business, based in Garston, Liverpool; the Hydraroll division based in Gaerwen, Anglesey; a mainland European operation, Joloda BV, based in Venray in the Netherlands; Joloda LLC, based in Wilmington, North Carolina, USA; and Joloda South America, based in São Paulo, Brazil.
The current structure of the Joloda International group testifies to its growth and success, from its modest beginnings in Toxteth, Liverpool in 1962 to today, as a UK-based specialist engineering company turning over in excess of £10million and exporting directly and through a network of agents to more than 20 countries.
Wojtek Kordel said: "Joloda International is a remarkable success story – and I have been developing a succession strategy for the business for some time. At the core of this strategy has remained my personal determination to keep the primary engineering skills and jobs here in the UK, securing the future of our incredibly loyal workforce, both in Liverpool and in Anglesey. In addition, I wanted to ensure absolute continuity and stability for our subsidiary businesses and the network of agents around the world with whom we have worked over many years."
He added: “I set a range of objectives for the business some twenty five years ago and we have managed to achieve and exceed those aims – but I have to recognise that the time is right to introduce new working owners to Joloda, to take the business forward and to the next level. Our management team, our employees and our agents should share our confidence in the buy-out framework which we have agreed and which underpins and secures their futures and the direction of the business."
