New ownership for TRT after 56 years in business

In News3 MinutesBy NZ Trucking magazineMay 12, 2023

TRT (Tidd Ross Todd Limited) has announced a major change in ownership, 56 years since Jack Tidd Ross Todd was formed.

TRT’s engineering and technical director, Robert Carden, has decided to step down from his position and sell his shares of the business. As a result, he will be resigning as a director and as a TRT employee.

Carden’s brother, Bruce, has acquired Carden’s shares in the business giving him 100% control of the business.

The company says over the last 12 months, several significant events and decisions have taken place, which all transpired to achieve the same goal, to position the business for a successful future.

TRT Australia has played a significant role in restructuring the business for future success. Neil Webb officially took the post of new investment partner and 20%shareholder of TRT’s Australian operations in November 2022.

“The changes in New Zealand are also seen as an opportunity for the future,” said director of sales and innovations, Bruce Carden.

“TRT was created by the innovative ingenuity and relentless hard work of its founders and I’m still very energised and motivated to pursue the legacy that started 56 years ago.

“We have many key staff that have been committed to TRT for decades who are part of our DNA. This change assures the long-term future of TRT. We will continue to prosper as a competitive and successful family-owned transport, engineering, crane, and defence business. Our loyal staff, growing customer base, and the size and potential of our current and new innovations reflect this strong confidence.

“Our focus remains the same, solving problems for our customers, it is at the core of everything we do,” said Bruce.

“I want to reassure our customers that this change in ownership means the way we currently operate will continue. Our commitment to service remains the same. Our commitment to innovation remains a key ingredient to provide our customers with fit-for-purpose, bumper-to-bumper solutions that are made to last.”

TRT board chairperson and non-executive director, Bruce Nixon said the, change gives the business future certainty, whilst retaining the Carden family connection.

“I have seen first-hand the trust that TRT and all its owners have earned from the industry, and I look forward to supporting Bruce, Mary, and their family in this latest chapter of the TRT success story.”