Riverside's NZ animal health business completes bolt-on

In a statement, Riverside said the purchase of the assets of New Zealand-based ISL Animal Health and the shares of Australia-based NJ Phillips will enable Simcro to create an end-to-end designer, manufacturer and distributor of animal health delivery systems. The company plans to sell its systems primarily for use in production animals in overseas markets.

Simcro was founded in 1993 and aims to meet the growing demand for farm animal drug delivery products from major international pharmaceutical companies. Riverside Principal Steven Spiteri said the acquisitions "will create many exciting growth opportunities for Simcro, and the expansion will benefit customers with enhanced product development and distribution capabilities."

Both ISL and NJ Phillips are operating divisions of New Zealand-based holding company Forlong & Maisey, which owns several animal health-oriented manufacturing concerns.

Riverside has controlled Simcro since 2013, when it bought a majority stake in the company for an undisclosed amount. The firm closed its second Asia fund last year at $235 million, and is currently seeking growth capital and mezzanine buyout deals across a wide range of sectors, including consumer products and services, education, financial services and manufacturing.

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• Topics
• Australasia
• Industrials
• Buyout
• Investments
• New Zealand
• The Riverside Company
• buyout
• Agriculture