News

Aberdeen-based ARR Craib Transport has undergone a change in ownership due to founder and chairman George Craib looking to retire. Managing director Edward Anderson, who previously owned a minority shareholding, has acquired 100% of the shares of Edge Holdings, which wholly owns ARR Craib. The acquisition has been funded by Bank of Scotland Corporate.

Craib will continue in his role as chairman and director, but over the next 24 months will gradually reduce his time at the office. Speaking  to MT, Anderson says: "George founded the firm in 1983 and was involved in the industry for many years prior to that, so he wants to hang up his boots. I've been the managing director since 1998 so it made sense for me to effectively do a management buyout (MBO)."

According to Anderson, not a lot will change on a day-to-day basis, but a slight rejig of the company is on the cards. "We are soon to enter a period of change, with some positive restructuring, making the company fitter for the future, which would have happened irrespective of the change in ownership," adds Anderson.