Buy-out at Simba
SIMBA International has undergone a management buy-out. The Sleaford-based cultivator manufacturer, which was founded some 20 years ago, will now be run by its existing management team with the addition of new chairman/managing director, Rod Daffern.
"I look forward to the challenge of maintaining our position as a UK market leader," he says. We also have significant plans for a major investment in the business."
Financial backing for the management buy-out comes from the Bank of Scotland with equity funding from Ivory & Sime Baronsmead.
Sales director, Guy Leversha believes the new situation will enable the company to take a longer-term view of the agricultural market.
"As farm incomes decline growers will be forced to seek ways of reducing their inputs," he says. "I believe Simbas range of cultivators and drills – and the methods they allow – will become an important part of such cost cutting systems."