New Zealand’s Waterman Capital takes half of Working In
New Zealand-based Waterman Capital has reportedly acquired a 50% stake in Working In Ltd., an immigration and employment-information provider, for an undisclosed sum.
Working In’s fundamental asset is its website, Workingin-australia.com, which provides relevant employment information and tips for British, South African and Canadian residents looking to move to Australia and New Zealand. The site also assists local companies looking to recruit overseas employees.
The Auckland-based PE firm was established in 2004 by Matt Riley and Chris Marshall, who spun out of Direct Capital. Waterman Capital currently has four portfolio companies, which includes a 25% stake in Express Logistics, a 28.5% stake in David Reid Homes, and 100% ownership of home decorating retailer Guthrie Bowron. Waterman successfully closed its second fund, Waterman Fund 2 LP, in 2010, raising $83 million.
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