Overcast

Overcast

max temp: 7°C

min temp: 7°C

Search

East Anglia crane hire specialist Quinto under new ownership

10:07 14 November 2014

Oliver Arnold of Spring Farm Partnership who has bought out Quinto Crane & Plant.

Oliver Arnold of Spring Farm Partnership who has bought out Quinto Crane & Plant.

Archant

East Anglian crane hire company Quinto Crane & Plant has changed hands in a multi-million deal, with the new owners promising to safeguard the jobs of its 125 employees and pledging future investment.

Quinto, which is based in Norwich and operates from eight locations including Ipswich and Chelmsford, has been acquired by Oliver and Hannah Arnold who run Norfolk-based farm contracting business Spring Farm Partnership.

Mr Arnold said: “There will be a few changes but it will carry on as Quinto and I will be looking to take on new staff and expand. It needs some investment to move the business forward.

“The important thing is that the jobs are secure. It is a massive investment for us but the business has a fantastic reputation and a successful name.”

The company has an annual turnover of £7m, but Mr Arnold said he was confident it would hit £10m next year.

“In a way it is very similar to what we already do with the farm contracting business,” he added. “It is all about logistics and mechanical work.”

Quinto was formed in 1977 through a management buy-out from the Norwich-based Pointer Group, with its name reflecting the five directors involved in the deal and the five depots from which it then operated – at Norwich, Ipswich, Chelmsford, King’s Lynn and Peterborough.

Further depots have since been added in Great Yarmouth, Ware and Leicester, with the company serving local and national building contractors and construction companies, as well as public utilities, local authorities and private industries.

There is also a machinery moving division and a training division. All operators are trained and certified to CITB standards and all cranes and plant are maintained by trained fitters.

The firm has well-established contracts with the likes of the Sizewell and Bacton power stations but Mr Arnold will be looking for new business throughout East Anglia.

All the offices will be retained for now, but Mr Arnold is looking to relocate some to bigger yards to accommodate larger machinery and open new depots.

He has already just acquired a new 300 tonne crane for £1.1m to add to the fleet, the biggest in Quinto’s history, and a further 130 tonne crane.

Mr Arnold was assisted in securing the deal, the exact value of which has not been disclosed, by a team from accountancy firm Larking Gowen, led by Brian Pring, and by Simon Reynolds of B2B Cashflow Solutions.

“We are incredibly proud to buy and own Quinto because it is a company I have known since I was a boy,” Mr Arnold added. “The important thing now is to move forward, invest heavily in new technologies with the main aim of better utilisation of the cranes and modernisation of the fleet.”

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ipswich Star visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ipswich Star staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ipswich Star account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

It is difficult to imagine that there was a time, right up until the later part of the Victorian era, that towns like Ipswich did not have a fire brigade available to everybody, writes David Kindred.

A driver who saw his family have a near miss with a car travelling the wrong way down the A14 says it was the ‘single worst moment’ of his life.

Rail passengers travelling from London to Clacton, Colchester and Ipswich tonight are facing cancelled trains or delays of up to 45 minutes due to a defective track on the outskirts of London.

Margaret Mary Tempest was born at 28 Fonnereau Road on May 15, 1892 to Charles and Frances Tempest, writes John Norman, of the Ipswich Society.

A Christmas tree made from marshmallow and gingerbread is one of more than 400 unusual festive firs drawing in huge crowds to a popular annual Suffolk festival.

The latest stage in Felixstowe Pier’s multimillion pound redevelopment has been captured on camera by a drone.

An Ipswich shopkeeper who sold “legal highs” with labelling which failed to give customers information about the use and risks of taking them has been given a community order.

Here is your spoiler alert: In the improbable event that your child gets hold of this page of the newspaper, do not let them read on - warsn mum-of-three Ellen Widdup.

Through our iwitness24 site, readers are able to share their photos of Suffolk’s top beauty spots, of landmarks and of some of our amazing wildlife in action.

Father Christmas and his friends from the Ipswich Round Table are preparing for the 2016 Rudolph Run but what route will they take this year and when will they visit your street?

Most read

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

MyDate24 MyPhotos24