Investment Chronology

Investment Chronology

Pohutukawa sells shareholding in New Zealand Pharmaceuticals 1 April 2016

Direct Capital, through its Direct Capital III and Pohutukawa I funds, today announced that it has completed the sale of its shareholding in New Zealand Pharmaceuticals (NZP).

 


 

Pohutukawa divests Rodd & Gunn March 2015

Pohutukawa has realised its stake in Rodd & Gunn settling in March 2015.

 


 

Pohutukawa sells shareholding in Shears & Mac August 2013

During August Pohutukawa sold its stake in Shears & Mac to the executive shareholders of Shears & Mac.



Sale of GoBus Holdings Limited and Hamilton City Bus Depot Limited 4 May 2012

Direct Capital, through its Direct Capital III and Pohutukawa funds, today announced that it had completed the sale of its shareholding in GoBus Holdings Limited, New Zealand’s third largest public transport operator, as part of a recapitalization plan to continue the company’s impressive growth.

Please see the GoBus press release 4 May 2012.



Sale of Triton Hearing Clinics Limited  1 December 2010

"Direct Capital completed the sale of Triton Hearing Clinics Limited on the 1st December. We believe the sale achieved the best outcome for the shareholders, given the many changes that have occurred in the audiology industry over the last four years.  The proceeds from Triton are being applied to the follow on investment into GoBus to fund the Christchurch Bus Services acquisition. "



Go Bus completes purchase of Christchurch Bus Services 30 Nov 2010

Pohutukawa investment Go Bus has today completed the purchase of Christchurch Bus Services(CBS), taking full possession of the business from 1 December 2010.

Please see the Go Bus press release 30 Nov 2010.



Pohutukawa invests in Fishpond.co.nz 12 October 2009

Pohutukawa has taken a minority shareholding in online retailer Fishpond Limited.

Fishpond is Australasia’s largest local online book retailer, offering over 2.3 million books, 213,000 CDs, 23,000 DVDs, and 2,100 video games.  Fishpond was launched in January 2004 by Daniel Robertson, who rapidly grew the New Zealand business before the launch of the highly successful Australian website in 2005.  The Company operates from a distribution centre in Auckland, has approximately 50 employees and services both the Australian and New Zealand markets from its fishpond.co.nz and fishpond.com.au websites.

Please see the Fishpond press release.

For further information on Fishpond please visit Fishpond.co.nz



Sale of Express Logistics October 2009

In October 2009 Express Logistics Group agreed to the sale of the business to Toll Group.

Please read the press release Sale of Express Logistics Investment to Toll Group 23-10-2009.

For details on the distribution of the Express sale proceeds please read the Pohutukawa Distribution Notice 3-12-2009.



New Zealand King Salmon 8 September 2008

Direct Capital, through its DCP III and Pohutukawa funds has invested alongside management to acquire a 45 per cent shareholding in New Zealand King Salmon.

New Zealand King Salmon is the country’s biggest salmon producer supplying both the domestic and export markets.  Based in Nelson and with hatcheries, farms and processing facilities across Marlborough and Canterbury, the company is highly integrated from brood stock management right through to distribution of product through its well-recognised consumer brands, Seasmoke, Regal and Southern Ocean.

Please read the New Zealand King Salmon  press release.

For further information on New Zealand King Salmon  visit  www.kingsalmon.co.nz 



Rodd & Gunn 22 August 2008

Direct Capital, through its DCP III and Pohutukawa funds, has acquired a 30% interest in one of Australasia’s leading menswear retail chains, Rodd & Gunn Limited. 

Rodd & Gunn has a retail chain of 55 stores and concessions in malls and on high streets including 34 stores across Australia and 21 stores throughout New Zealand.  The retailer has a long-established brand and targets the premium male customer. Following Direct Capital’s investment, managing director Mike Beagley retains a 70% shareholding.

Please read the Rodd & Gunn press release.

For further information on Rodd & Gunn visit  www.roddandgunn.com/



Sale of Innovair Business  27 June 2008

Innovair Group the owner of the robocan pest control product has agreed to a sale of its assets to multinational SC Johnson. The value of the transaction is confidential but represents a very positive outcome for Direct Capital Partners and Pohutukawa shareholders, producing an annualised IRR of over 250 per cent.

Please read the Innovair press release.



Camm4 & Shears & Mak 12 June 2008

Pohutukawa along with Direct Capital partners acquires a shareholding in the merged operation of Camm4 and Shears & Mak, two of New Zealand’s leading joinery and shop-fitting providers.

 Please read the Camm4-Shears & Mak  press release.

 For further information see Shears & Mac4 website. 



Toll Holdings Limited acquires Gluck Pty 10 June 2008

On 30 May International Forwarding Limited, in which Direct Capital holds a 57% stake, sold its interests in Gluck Pty Limited to Toll Holdings Limited. 

Please read the Gluck press release.



GoBus Limited 20 December  2007

Pohutukawa acquires a shareholding in GoBus Limited, a leading provider of public transport services in the Waikato region.
Please read the GoBus press release.

For further information on GoBus visit  www.gobus.co.nz  



Max Fashions Sold to Ezibuy  12 December 2007

The Board of Pohutukawa announces the sale of its investment in Max Fashions.  Max has been acquired by Ezibuy Limited, Australasia’s largest apparel and home décor multi-channel retailer. This is a very successful outcome for us with Pohutukawa’s investment in Max of $3.618m producing $17.847m in gross dividends and sale proceeds.

To read the full press release see Max news update 



Professional Hearing Services  - Triton Hearing Clinics 27 September 2007

Professional Hearing Services announced the acquisition of Canterbury Hearing, the opening of a new clinic in Hamilton, and the re-branding of the business as Triton Hearing Clinics.

For more details see Triton update.

To find out more about Triton please visit their website:  www.tritonhearing.co.nz



Innovair Group Limited  17 September 2007

Pohutukawa invests in Innovair Group Limited.  Direct Capital has announced its seventh investment by Direct Capital Partners’ funds, taking a stake in Innovair Group Limited, who manufacture and market a range of world-class advanced automatic air dispensing systems. Direct Capital has initially acquired a 28% shareholding in Innovair alongside the original shareholders. Innovair is based on Robocan, a pest control product.

For more details see Investment in Innovair



Stratex Group Limited (Paper Coaters)  2 May 2007

Pohutukawa invests in Paper Coaters. Direct Capital today announced that it has partnered with senior management in the succession management buyout of Paper Coaters Limited (“Paper Coaters”).  Paper Coaters is one of Australasia’s leading flexible packaging companies with plants in New Zealand and Australia, it designs, manufactures and supplies packaging to the paper, food and industrial markets by adding value to paper, foil and polymers.

For more details see Investment in Paper Coaters

For further information on Paper Coaters visit  www.stratexgroup.co.nz  



Victory International Logistics Pty  27 April 2007

Express Logistics Group (ELG) has announced that, through its wholly owned subsidiary Express Logistics Australia Pty Limited, it has completed the purchase of Victory International Logistics Pty Limited (Victory).

For more details see Investment in Victory

To find out more about Express Logistics please visit their website: www.xprs.co.nz



Professional Hearing Services 30 November 2006

Pohutukawa announced its fifth direct investment. Pohutukawa and other funds managed by Pohutukawa managers, Direct Capital, togetherwith businessmen John Ryder and Howard Bretherton have acquired Professional Hearing Services. Direct Capital partners have a 47% stake.

For more details see Investment in Professional Hearing Services



Gluck Pty Limited  26 October 2006

Pohutukawa announced its fourth direct investment. Pohutukawa and other funds managed by Pohutukawa managers, Direct Capital, have acquired 20% of the shares in Gluck Pty Limited, one of Australia’s larger privately owned supply chain services companies.

For more details see Investment in Gluck 

For further information on Gluck visit  www.gluck.com.au



New Zealand Pharmaceuticals 25 November 2005

Pohutukawa announced its third direct investment into a company. Pohutukawa and other funds managed by Pohutukawa managers, Direct Capital, acquired 51% of the shares in New Zealand Pharmaceuticals (NZP).  Pohutukawa has acquired a 15.8% equity stake in NZP. Other investors include Direct Capital’s institutional fund, DCPIII with 16.5%, BioPacific Ventures with 14.1%, co-investors 4.6% and the remaining 49% of NZP will continue to be owned by the management and staff of NZP and strategic investor Shin Nippon Yakugyo, a Japanese specialty chemicals business.  See Investment in New Zealand Pharmaceuticals

To find out more about New Zealand Pharmaceuticals please visit their website: www.nzpharmaceuticals.com



Express Logistics Group Limited  4 October 2005

On the October 31 2005  Pohutukawa Private Equity, Pohutukawa's manager Diirect Capital and investment company Waterman Holdings acquired a majority shareholding in Express, with the balance of the shares owned by Express founder Brendon Thomas, Managing Director Graeme Mann and other senior Express managers and staff who are investing alongside Direct Capital and Pohutukawa. Pohutukawa acquired a 21% equity stake. See the announcement - Second Direct Investment

To find out more about Express Logistics please visit their website: www.xprs.co.nz



Max Fashions Limited (Max)  21 July 2005

In July 2005 Pohutukawa made its first investment directly into a Company.  Pohutukawa and other investors sourced by Pohutukawa managers, Direct Capital, have acquired 100% of the shares in Max Fashions Limited (Max).  Pohutukawa has invested $3.6million for 31.7% of the shares in Max and is committed to investing a further $1.6million if required by the Company.