Big Red Rigging aims big

2009-09-02 00:00

PIETERMARITZBURG-BASED Big Red Rigging, which recently acquired its own property in Mkondeni after renting premises in the area for several years, is on a multi-million-rand investment drive.

Owner Chris Rose told The Witness that there are plans to transform the Durban sales office into a full rigging and project logistics services branch, followed by similar facility establishments in Richards Bay and Johannesburg.

Rose said these expansion plans, which involve more crane truck capacity and a larger geographic operations footprint, will be completed in the next two years.

Big Red Rigging provides plant de-commissioning, mechanical dismantlement, removal, integrated heavy lift transportation, installation and project logistics for the relocation of machinery and equipment.

Privately held and financially independent of other rigging companies, Big Red Rigging is understood to be the largest full service business of its kind in Pietermaritzburg, focusing primarily on the Westmead-KZN Inland/Midlands-Harrismith axis.

The deals have been 100% financed by Business Partners, the national specialist financing company for small and medium enterprises.

Veroshen Naidoo, who heads up Business Partners’ Pietermaritzburg office, told The Witness that the company is now one of the major regional players in the machine moving and rigging field.

The infusion of expansion funding capital is intended to leverage Big Red Rigging’s existing dominant market share and presence in KZN, he explained.

Rose said the property was bought for R1,8 million.

The principle of this investment with Business Partners, he added, is to share the ownership of the property owning company according to the financial risk contribution made by the two investors.

Rose added that the 1 594-square-metre property was purpose-built for Big Red Rigging.

He said the expansion plans will necessitate the phased employment of more trained staff as the business evaluates additional commercial opportunities, scalability and growth prospects of a wider geographic spread in these new locations.

The company has experienced an impressive compound annual growth rate of 55% in turnover and total assets in the past five years.

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