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Destiny calling
01 December 2006
Pembroke has a new lease on life, so to speak. Garry Burke tells Alexandra Lennane how the company's management buyout has set it up for the future.
"We are masters of our own destiny now," laughs Garry Burke, chief executive officer of Dublin's leasing doyen, Pembroke Group. Is that a frightening prospect? "It's a lot less frightening than not being in control of your own destiny," he points out.
Burke has been back in control since July 12 last year when he led a management buyout of Pembroke after its two major shareholders decided to divest. Pembroke has come full circle; from its origins as GPA, it then became management-owned before Rolls-Royce and GATX took over as shareholders. It is partly this history which has ensured that Pembroke has stayed as a small, friendly lessor which works off relationships with banks, customers and manufacturers.
"It is no secret that the Pembroke ethos is driven by the ownership process," says Burke. "It's always been on our agenda."
The management buyout, arranged with the backing of Anglo Irish Bank...
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