New Zealand's Oriens Capital acquires biosecurity specialist

Oriens is investing via its debut growth and buyout fund, which closed at NZ$50.6 million ($36.1 million) in 2016 and targets businesses with enterprise values in a range of NZ$10-50 million. IVS founder Peter Webb will retain the remaining 30% following completion of the transaction.

IVS, also known as Independent Verification Services, helps local exporters access global markets through a range of regulatory clearance services in the forestry, timber and horticultural industries. It also offers various training programs for checking and managing biosecurity contamination risks associated with importing and exporting.

Import inspection services cover shipping containers and motor vehicles. All used cars entering New Zealand for the first time must go through a border check verifying there are no insects or mud on or in the vehicle. Oriens said the business demonstrated “excellent resilience” during 2020.

“Oriens brings sector relevant relationships, plus capability and capital to support bolt-on acquisitions,” Webb said in a statement. “It is an exciting time for IVS, and we look forward to growing the company considerably over the next few years.”

This is the last investment from Oriens’ debut fund, and it coincides with final preparations to launch a second vehicle. Other investments include Retirement Income Group, About Health, Rhino Manufacturing, and agriculture technology provider Bluelab.

Established in 2016, Oriens positions itself as a specialist in regional companies. It partnered with local GP Pioneer Capital on its first investment, taking a combined 55% stake in Rockit Global, a company that sells tubes of specially bred miniature snack apples across a number of international markets.

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• Topics
• Australasia
• Buyouts
• Support services
• New Zealand
• Oriens Capital
• shipping