Merger to create £100m turnover farming giant is approved
A merger involving a leading Highland agricultural industry co-operative that is expected to create a firm with a combined £100m turnover has been approved by members.
Inverness-based machinery ring company Highland Business Services (HBS) announced its intention earlier this year to merge with Laurencekirk-based Ringlink (Scotland).
Machinery rings were created in the UK to help farmers reduce capital costs through sharing machinery on an organised basis. The concept has since been expanded to include the provision of labour to farming and other rural industries, training and the supply of commodities, such as fuel, straw, stockfeed, fertiliser and electricity.
And the newly-merged machinery ring will boast a combined membership of more than 4000 and serve farmers and crofters stretching across an area that runs east central Scotland to Sutherland in the north, Skye in the west and Argyll in the south.
The move required the support of members, with special general meetings taking place on June 24 and July 11 to vote on the plan. The first required the support of two-thirds of members present, with half of those at the second also having to vote in favour.
The merger will now formally take place on August 1.
Under the merger, the Ringlink Scotland name will be retained and two directors of HBS will join the Ringlink board. Overall management will be the responsibility of Ringlink’s managing director, Graham Bruce, with the present HBS team continuing to operations in HBS’s existing trading area on a day-to-day basis from their present office at Glaikmore, Tore.
All current Ringlink offices- including Elgin, Laurencekirk, Cupar, Coupar Angus, and Oldmeldrum - will remain open and operational.
“This merger builds on the shared values and close working relationship between our two organisations,” said James Porter, Chairman of Ringlink Scotland Ltd. “By combining resources, skills, and infrastructure, we’re creating a stronger, more agile and efficient business for our members across Scotland.”
Anne Rae MacDonald, Chair of HBS, added: “The business world has changed markedly over recent times and as a co-operative we must evolve to ensure we continue to deliver for our members. In particular, Nina and Graham are to be commended on the substantial work undertaken in enabling the two businesses to come together, and so enhancing the strength of the collective membership whilst retaining the local knowledge and services members value.”
“This is a merger for growth,” said Graham Bruce. “Together, we’ll expand our labour pools, support more rural jobs, and help equip Scotland’s agricultural industry with the skills it needs for the future.”
“I’m thrilled the merger is over the line,” said Nina Clancy, Interim Manager at HBS. “Huge thanks go to our members and directors for their backing, and to Graham Bruce and the Ringlink team, who’ve worked tirelessly behind the scenes to make it happen. But above all, credit goes to the HBS staff. Despite a year of major change and uncertainty, they’ve remained committed to putting members first.”
