Founder's grandson takes control of Gough family firm

Ben Gough

BUSINESSDESK: Ben Gough, the grandson of a co-founder of Gough Group, has built up a controlling stake in the Christchurch-based equipment and machinery supplier.

Gough Group, formerly known as Gough, Gough & Hamer, is privately held by the Gough family and supplies equipment and machinery across the transport, infrastructure, forestry, agriculture and mining sectors.

Ben Gough says his consolidation of the firm's shareholding doesn't mark a shift in its operations, which have been "performing exceedingly well". He holds a seat on Gough Group's board and is also the general manager of strategic development.

"I'm heavily engaged at both operational and governance levels," Mr Gough told BusinessDesk.

"To be able to make a commitment as a shareholder and invest back into the business sends a strong signal to our key stakeholders, our customers, suppliers and employees."

Founded in 1929, Gough Group employs more than 880 staff across New Zealand and Australia, and will mark 80 years of selling Caterpillar machinery this year.

In 2010 it acquired the dealership to sell Palfinger cranes in Australia, making it one of the top 10 dealers for the Austrian brand worldwide.

Mr Gough says he is "cautiously optimistic" about the company's outlook, as it is "insulated if one particular market has a downturn" given its exposure to a diverse range of sectors.

The threat of a slower Chinese economy and the ongoing woes in Europe mean he is wary of flow-on effect to New Zealand, though is more upbeat about construction as the Canterbury rebuild shows signs of getting under way.

He says there are positive signs for the mining sector, which Gough Group has "reasonable exposure" to, because of the potential in New Zealand for expansion.

This article is tagged with the following keywords. Find out more about My Tags

Comment & Question

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.7842 -0.0078 -0.98%
AUD 0.8914 -0.0023 -0.26%
EUR 0.6203 -0.0015 -0.24%
GBP 0.4896 -0.0010 -0.20%
HKD 6.0810 -0.0622 -1.01%
JPY 85.2860 -0.3520 -0.41%


Commodity Price Change Time
Gold Index 1229.0 2.000 2014-10-28T00:
Oil Brent 86.0 -0.650 2014-10-28T00:
Oil Nymex 81.4 0.410 2014-10-28T00:
Silver Index 17.2 0.065 2014-10-28T00:


Symbol Open High Last %
NZX 50 5338.3 5367.6 5338.3 0.33%
NASDAQ 4551.4 4564.4 4564.3 -0.33%
DAX 9139.0 9157.6 9068.2 0.16%
DJI 17005.1 17065.5 17005.8 -0.18%
FTSE 6402.2 6475.4 6402.2 0.81%
HKSE 23704.0 23855.7 23520.4 1.27%
NI225 15442.4 15595.3 15329.9 1.46%