New Zealand
IREIFS expands SE Asia presence, targets Australasia and India
Paris-based private equity firm IREIFS Partners is to expand its Southeast Asian presence in response to increasing activity in the Asia Pacific region.
The perils of over-ambition
Asahi's acquisition of Independent Liquor came towards the end of a period of frenetic outbound activity among Japanese beverage giants. Kirin bought Australia’s Lion Nathan, took a minority stake in Singapore-based Fraser &Neave and then rounded it...
Asahi accuses Independent Liquor of ‘channel stuffing’
Asahi claims that Pacific Equity Partners (PEP) and Unitas Capital resorted to “channel stuffing” – where companies supply retailers with more product than they are capable of selling to boost sales figures – to artificially inflate Independent...
Asahi, PE firms set for legal battle over Independent Liquor sale - update
Japanese beverage giant Asahi has taken legal action against private equity firms Pacific Equity Partners (PEP) and Unitas Capital over its acquisition of New Zealand firm Independent Liquor in 2011 for NZ$1.5 billion ($1.5 billion).
AVCJ Australia webinar takes place Thursday
The opportunities and challenges facing Australian private equity will be discussed by a panel of industry experts at an AVCJ webinar on February 21. It begins at 11 a.m. (2 p.m. AEST) and will last for approximately 45 minutes. Audience members will...
Ironbridge sells NZ-based EnviroWaste to Cheung Kong Infrastructure
Ironbridge Capital has agreed to sell EnviroWaste, New Zealand’s second-largest waste services business, to Hong Kong’s Cheung Kong Infrastructure Holdings for NZ$490 million ($412 million). The Australian private equity firm acquired EnviroWaste...
Equity Partners buys majority stake in New Zealand’s AHM
Equity Partners has acquired a stake of around 70% in New Zealand camping and gardening product distributor Amalgamated Hardware Merchants (AHM).
New Zealand’s Xero raises $49m from Valar, Matrix
New Zealand-based online accounting software company Xero has raised NZ$60 million ($49 million) in new capital from US VC firms Valar Ventures and Matrix Capital Management. Valar is backed by Peter Thiel, best known for his early investments in PayPal...
KKR, Allegro pick up Australasian loan portfolio from BOS
KKR’s special situations business has teamed up with Australia’s Allegro Funds to acquire a portfolio of commercial loans from BOS International. The sale came after Lloyds International, BOS’ parent, conducted a review of its Australia and New...
CHAMP PE sells off Blue Star’s Australian operation
CHAMP Private Equity is said to have exited the Australian arm of printing and communications company Blue Star Group to a consortium including Wolseley Private Equity and CaxtonWeb. Blue Star’s New Zealand operations area also expected to be sold off.
Next-backed Hirepool in talks to buy Tasman Capital-owned HireQuip - report
Hirepool, the New Zealand rental equipment specialist owned by Australian private equity firm Next Capital, is reportedly in exclusive talks to purchase its indebted rival, HireQuip, which is owned by Sydney-based Tasman Capital.
Anchorage buys Dick Smith Electronics from Woolworths
Anchorage Capital Partners will buy Australian supermarket chain Woolworths’ Dick Smith Electronics unit for an initial A$20 million ($18 million) plus a share of any upside resulting from the private equity firm exiting the asset. The divestment comes...
GE, VC firms to back Australasia cleantech start-ups
General Electric (GE) has teamed up with five venture capital firms in Australia and New Zealand on a $10 million fund that will support the development of clean technology. It is the company’s first ever local “ecoimagination” challenge and entries...
Morrison & Co raising $1b for NZ infra fund
Australasian infrastructure investor Morrison & Co. is reportedly looking to raise up to $1 billion for a private equity fund that will target low-risk global infrastructure projects.
Ironbridge’s EnviroWaste could fetch healthy price
Ironbridge Capital is mulling the sale of its waste management company, EnviroWaste. The New Zealand-based firm is expected to sell for a healthy price as its Australian counterpart Thiess was bought for A$218 million ($225 million) earlier this month.
CHAMP PE seeks exit from New Zealand’s Blue Star
CHAMP Private Equity-owned Blue Star has suspended trading on the New Zealand Stock Exchange in anticipation of an announcement that the business is up for sale. It comes after the struggling communications company said in June that it had won the support...
HAPE clinches $12m FastTrack buyout
Harbert Australia Private Equity (HAPE), a unit of America’s Harbert Management Corp (HMC), has acquired a majority stake in recruitment and payroll software provider FastTrack.
New Zealand’s MOVAC closes third fund at $33m
New Zealand-based early-stage investor MOVAC has raised NZ$42 million ($33.2 million) for its third fund. It will invest sums of NZ$1-5 million in local companies with an established track record that require growth capital.
Maui Capital closes fund at $190m hard-cap
Maui Capital has closed its Aqua fund at its hard-cap of NZ$250 million ($190 million). The New Zealand-based private equity firm had to turn away some larger investors.
Asahi says it paid too much for PE-backed Independent Liquor
Asahi Group is re-examining the terms of its NZ$1.5 billion ($1.27 billion) acquisition last year of Independent Liquor from Pacific Equity Partners (PEP) and Unitas Capital, suggesting there were differences in understanding between the buyer and sellers...
New Zealand’s Waterman buys 20% of Manuka Health
New Zealand-based Waterman Capital has acquired a 20% stake in natural health brand Manuka Health.
Goldman exits NZ retirement villages to Metlifecare
Goldman Sachs has exited its majority stake in New Zealand retirement village operator Vision Senior Living to Metlifecare. The acquisition – which includes Private Life Care Holdings as well as Vision – will be financed through Metlifecare issuing...
Maui Capital appeals to the masses
Between now and the end of May, around 900 New Zealand investors are expected to sign up as LPs in Maui Capital’s new fund. With commitments ranging from NZ$100,000 ($81,000) to NZ$20 million, they are only expected to account for around two thirds...
Maui Capital raises one third of capital for new fund
New Zealand’s Maui Capital has so far received commitments of NZ$92 million ($75.5 million) from institutional investors for its latest fund, which has a target of NZ$250 million. The vehicle is the same size as its predecessor, the 2008 vintage Maui...