Shares shake-up at Giltrap

Sir Colin Giltrap and his sons, Richard and Michael, now have equal shareholdings in the Giltrap Group following a reallocation of their stakes in the business this month.

Director Chris Quin has also replaced Sir Colin as chairman of the group, which operates 18 dealerships across the country, reports the NBR.

A filing to the Companies Office on May 2 shows Sir Colin, pictured above, has halved his 67 per cent controlling stake in the business, while the proportion of shares allocated to his sons has doubled.

They now each own 33.3 per cent of Giltrap Group Holdings, while Sir Colin’s wife Jennifer has been removed as a director and her holding of nearly 0.01 per cent has been split between the three men.

Sir Colin remains one of five directors alongside Richard, who is chair of the group’s European Motor Distributors business, and Michael, who holds the same position for the retail division. 

The other two directors are Quin, who was first appointed in October 2021 and whose LinkedIn profile shows he took over as chairman of the group in January, and Michael Reed, who has been on the board since November 2016.

Sir Colin, who founded his first car dealership in Hamilton in 1966 before expanding his interests over the next few decades, has an estimated worth of $450 million, according to last year’s NBR List.

At one point, his motor-vehicle empire spanned three countries and he is also a keen supporter of motor racing after having been a competitive driver himself.

Richard Giltrap, left, and his brother Michael