May 16, 2020

Construction plant specialist Garic on course to double turnover

Garic
uk construction
Admin
2 min
Construction plant specialist Garic on course to double turnover
Bury-based Garic has unveiled a major growth strategy which will see the company increase its chain of depots across the UK, creating a significant numb...

Bury-based Garic has unveiled a major growth strategy which will see the company increase its chain of depots across the UK, creating a significant number of new jobs.

Due to current investment and growth opportunities, Garic says it is set to double its turnover to up to £37 million within its three year strategy plan.

Garic expects to see its workforce expand significantly over the course of its growth strategy, which started with the restructure of its internal hire and sales teams and a new network of geographically focussed managers who will be integral to the expansion of its depots.

Garic provides mobile welfare solutions and other services to the construction sector. Its ecologically sound products include fuel storage bowsers, wheel washers and welfare and storage cabins, which are utilised extensively by the construction, road, rail and housing sectors.

Peter Bibby, Managing Director of Garic, said: “The new company structure will enable us to drive sales through the greater promotion and awareness of our products to prospective customers and advise them of new ones coming to fruition.

“We enjoy significant brand strength in our sector but we are keen to cement our position not just within core territories such as house building – where resurgence continues apace – but in other areas such as demolition, road building, quarrying and rail where there is evidence of a demand for our products.”

Garic has recently added to its fleet through the manufacture of five hundred site accommodation units, complementing it’s existing modular building outfit ‘Modulink’. The company said the new units are to cement it’s innovative reputation due to each unit being completely modifiable to site specific requirements, including the addition of a walkway between cabins if required.

Non-construction sectors – such as sporting events and hospitality – are also an increasingly attractive market for Garic. This summer the company supplied Glastonbury with a number of its 2,500 litre fuel storage bowsers to keep the show up and running.

Bibby added: “There are significant opportunities to promote our products to clients who are not aware of our full product range. Our current marketing strategy involves the development of our range to a wider audience, meaning we will create greater understanding of Garic products and our innovative solutions to a wider market.

“The Garic business has been built on reputation, service and innovation and these will continue to be our watchwords during the next three years and beyond. We are well positioned for sustainable growth as we remain true to our values, continue to innovate and most importantly, set the standard for service nationwide.”

Garic, based at Kingfisher Park, Pilsworth, is part of the Bibby Line Group.

 

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Jun 14, 2021

XYZ Reality receives £20m to develop Assisted Reality

AugmentedReality
construction
DigitalTransformation
Technology
Dominic Ellis
3 min
XYZ Reality to use funding led by Octopus Ventures to springboard into USA and automatically report issues through Assisted Reality

XYZ Reality has announced a £20m investment round led by Octopus Ventures.

Founded in 2017, XYZ Reality aims to "revolutionise" the construction sector with its Engineering-Grade Augmented Reality (AR) solution, Holosite.

Designed to enable an on time and on budget delivery of construction projects, by eliminating building errors, HoloSite has been available to select customers through an early access programme and has already been used on projects totalling a value of over £1.5bn in the last year. 

With approximately 98% of construction megaprojects facing cost overruns or delays and 7-11% of project costs being spent on correcting errors, XYZ Reality’s purpose-built integrated AR solution directly addresses these issues.

With its safety certified AR hardhat, cloud platform and in-built proprietary software, Holosite accurately positions high fidelity 3D design models on construction sites, enabling teams to build it right, first time. The technology system has been used on complex construction projects including data centres, pharmaceutical facilities and airports.     

This funding will be used to accelerate the company’s ambition of transforming projects by preparing for HoloSite’s commercial launch in the USA and continuing investment in strengthening research and development. The company is also growing its London team to include key hires across technology, manufacturing, sales and marketing.

David Mitchell, Founder and CEO of XYZ Reality, said developing its engineering-Grade AR solution helping construction teams identify errors in real-time is just the start.

"The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history.”

The latest round of funding is led by Octopus Ventures, one of the largest and most active venture investors in Europe, known for its commitment of investing in companies and founders that are changing the world. Octopus Ventures has a strong track record, spanning investment in health, fintech, consumer, B2B software, and deep tech. This includes WaveOptics, one of Octopus Ventures’ early investments in Augmented Reality, which was recently acquired by Snap Inc. 

Rebecca Hunt, early-stage investor at Octopus Ventures, said: "We’ve always invested in entrepreneurs leading industry change and XYZ is doing just that. It's solving a massive problem that costs the construction industry billions every year, using its Engineering-Grade Augmented Reality solution to spearhead a shift in the sector’s approach. The founding team of David, Umar and Murray have deep domain and technical expertise, which we believe makes XYZ uniquely placed to drive this transformation.”

XYZ Reality also announces a new partnership with Mace, for the construction of a hyper-scale data centre in Europe. With speed to market being particularly essential for mission critical builds, HoloSite’s AR technology will have a significant role in supporting an accurate and time effective build for Mace, which last week appointed Jon McElroy its new Managing Director for International Technology.  

Mace Technical Director, Stephen Henley, said: “Mace has built a reputation of redefining the boundaries of ambition, always bringing efficiency, innovation and responsibility to our projects. With the implementation of XYZ’s groundbreaking AR system, we continue to be committed to delivering projects faster, safer and better than ever before.” 

Five years ago, Heather Bellini of Goldman Sachs Research expected virtual and augmented reality to become an $80 billion market by 2025.

But according to new research by global tech market advisory firm ABI Research, nearly 28 million augmented and mixed reality smart glasses will ship in 2026, while the total global AR/MR market will surpass $175 billion in the same year.

"Major tech players across hardware, software, and services look familiar in the consumer space, contributing to strong and consistent overall growth," says Eric Abbruzzese, Research Director for ABI Research. "Those big tech names, with active investment and product ranging from already available, to announced, to all-but-announced, are creating a consumer AR market that will be dynamic and welcoming rather than struggling and immature."

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