New Zealand
Next-owned Hirepool seeks up to $227m in NZ IPO
Hirepool Group - a New-Zealand equipment rental firm owned by Next Capital - is to raise up to NZ$262 million ($227 million) in what is likely to be one of New Zealand's largest listings this year.
Next-backed Hirepool confirms IPO plans
Hirepool, a New Zealand equipment rental business backed by Next Capital, has confirmed its plans for an IPO.
INCJ-backed JV acquires NZ-based packaging business
A Japanese joint venture - 40% owned by the Innovation Network Corporation of Japan (INCJ) - has acquired the pulp, paper and packaging (PPP) unit of New Zealand-based forest products company Carter Holt Harvey (CHH) for just over NZ$1 billion ($857 million).
LanzaTech forms Asian alliance
LanzaTech is a classic example of how a disruptive technology can attract investors from different geographies. Originally from New Zealand, the company has developed a technology for converting carbon dioxide into fuel and chemical products. This kind...
PEP, Unitas file counter claim over Independent Liquor sale
Pacific Equity Partners (PEP) and Unitas Capital have filed a cross claim against two senior Asahi executives in Australasia regarding their involvement in the Japanese company’s purchase of Independent Liquor from the private equity firms in 2011.
Mitsui leads $60m round for NZ cleantech play LanzaTech
Japan's Mitsui & Co has led a $60 million Series D round for New Zealand-based low-carbon fuels producer LanzaTech.
Valar, SquarePeg lead $20m round for New Zealand’s Vend
Vend, a New Zealand-based point-of-sale software provider, has received NZ$25 million ($20 million) in Series B funding. The round was co-led by Valar Ventures, an investment vehicle run by PayPal co-founder and early Facebook investor Peter Thiel, and...
NZ Super commits $250m to KKR energy investments
New Zealand Superannuation Fund (NZ Super) has committed up to $250 million to oil and gas investments in North America through a partnership with KKR.
Quadrant exits Australia, New Zealand home equity release assets
Quadrant Private Equity has agreed to sell Seniors Money International’s (SMI) New Zealand and Australian home equity release mortgage businesses to New Zealand’s Heartland Bank for NZ$87 million ($72.8 million).
New Zealand, Taiwan cross-border fund ups target to $70m
A cross-border fund launched by New Zealand-based Pan Pacific Capital and Taiwan's state-run Institute for Information Industry (III) has raised its target to $70 million and is nearing a first close.
Quadrant exits Summerset, buys Estia Health
Quadrant Private Equity has fully exited New Zealand retirement village operator Summerset via the public market, generating an estimated return multiple of more than 3.7x. In the same week, it acquired a majority stake in Australian aged-care operator...
Matrix, Valara invest $150m in New Zealand's Xero
New Zealand-based online accounting software company Xero has raised a NZ$180 million ($150 million) round from existing backers Matrix Capital Management and Valara Ventures. The transaction was priced at $15.10 per share for 9.92 million shares - representing...
Canada’s OPTrust opens Sydney office
Canada’s OPSEU Pension Trust (OPTrust) has opened an office in Sydney, to focus on infrastructure and private equity investment across Asia. This is its second base outside Canada.
New Zealand's Pencarrow acquires Bell Tea & Coffee
Pencarrow Private Equity has bought Bell Tea & Coffee Company (BTCC), New Zealand’s oldest tea enterprise, from supermarket chain Foodstuffs. Accident Compensation Corporation (ACC) is coming in as a significant co-investor, while BTCC’s senior management...
Australia's Catalyst exits EziBuy to Woolworths for $274m
Catalyst Investment Managers has exited Australia and New Zealand apparel and homeware retailer EziBuy to Woolworths for NZ$350 million ($274 million). The PE firm bought a 43% stake in EziBuy six years ago for an enterprise valuation of NZ$200 million,...
Creditors to assume control of New Zealand’s MediaWorks
MediaWorks Holdings, a new company owned by a consortium of lenders, including Oaktree Capital and TPG Capital, has signed a conditional sale and purchase agreement for the New Zealand broadcaster and its subsidiaries.
IFM takes 34% stake in NZ's Scottish Pacific
Australia's Industry Funds Management (IFM) has taken a 34% stake in New Zealand financial services company Scottish Pacific.
New Zealand's Pan Pacific, Taiwan to set up $40m cross-border fund
Taiwan’s state-run Institute for Information Industry (III) and New Zealand-based Pan Pacific Capital have formed a $40 million venture capital fund, with a view to promoting cross-border deals and expanding bilateral cooperation.
New Zealand’s Rangatira takes 12% stake in Magritek
New Zealand PE firm Rangatira has acquired a 12% stake in Magritek, which manufactures nuclear magnetic resonance (NMR) and magnetic resonance imaging (MRI) devices, for an undisclosed sum. It has the option of increasing its holding to 18% in a year.
Riverside buys controlling stake in NZ animal drug delivery group
Riverside has acquired a controlling interest in Hamilton-based animal drug delivery company Simcro for a undisclosed sum.
AMP Capital pays $409m for Powerco NZ stake
AMP Capital has agreed to buy 42% of Powerco NZ Holdings, New Zealand’s second largest electricity and gas distribution company, from Brookfield Infrastructure Partners for NZ$525 million ($409 million). It is investing on behalf of several clients...
NZ Super allocates $31m to Pioneer Capital
The New Zealand Superannuation Fund has committed NZ$40 million ($31 million) to the second fund of Auckland-based private equity firm Pioneer Capital Partners.
PE-owned MediaWorks New Zealand enters receivership
Creditors are poised to take control of Ironbridge Capital-owned MediaWorks as the New Zealand broadcaster and its subsidiaries went into receivership.
Bain-owned MYOB completes BankLink bolt-on
Bain Capital-owned accounting software firm MYOB has agreed to buy BankLink, an accounting services provider, from New Zealand-based Media Transfer Services. The private equity firm will contribute NZ$61 million ($50.6 million) in equity funding to support...
