Pohutukawa II Investment Chronology

Investment Chronology

Scales Corporation - Direct Capital Sells 15.38% stake - March 2016

Direct Capital Investments has sold a 15.38% stake in Scales Corporation to China Resources.  This included Pohutukawa II's  remaining 2.8% shareholding.

 


 

Transaction Services Group - November 2015

Direct Capital Sells Transaction Services Group Shareholding

Direct Capital has announced completion of the sale of its shareholding in Transaction Services Group.  

 


 

Scales Corporation lists on the NZX Main Board - 25 July 2014

Shares in leading New Zealand agribusiness group, Scales Corporation, began trading on the NZX Main Board today following the successful IPO that raised $149 million through the sale of new and existing shares.

The stock in the horticulture, storage and logistics and food ingredients business had been issued at $1.60 valuing Scales at $224 million.

As part of the IPO, majority shareholder Direct Capital Investments Limited sold down from its 84 per cent shareholding, but together with its co-investors the New Zealand Superannuation Fund and ACC, will retain a cornerstone shareholding of 20% to 30% in Scales following the IPO. 

 Please read the full Scales announcement here.

 


 

Scales Corporation - George H Investments demerger April 2014

Scales shareholders recently voted in favour of a demerger whereby Scales suprlus property and investment assets would be transferred to a separate entity - George H Investments. These assets are to be owned by exisiting Scales shareholders proportionately. All Scales shareholders will have an equal number of shares in the operating company - Scales Corporation Limited and in the investment and property company - George H Investments Limited.  From 1 May 2014, the two companies will be operated independently with separate corporate governance processes. The demerger simplifies Scales into three core operating divisions and will help facilitate any future possible IPO of Scales.

In conjunction with the demerger, on 20 May Scales Corporation Limited will be making a return of capital to shareholders of $0.27 per share. 

 


 

Direct Capital & Pohutukawa II invests in Energyworks Limited 10 February 2014

Direct Capital IV together with Pohutukawa Private Equity II has announced the completion of an investment in Taranaki-based, Energyworks Limited, New Zealand’s leading provider of mechanical services to the onshore oil and gas, power generation and petrochemical industry.

Direct Capital IV and Pohutukawa II have acquired a 70% shareholding in the company. Pohutukawa II’s shareholding is 16.7%.

Please read the Energyworks announcement.  

 For further information on Enerygyworks please visit their website www.energyworks.net.nz

 


 

Pohutukawa II invests in Hiway Group Limited 30 December 2011

Pohutukawa II has announced its sixth investment, into Hiway Group Limited, New Zealand's leading provider of specialist roading and ground stabilisation services.

PII/Direct Capital IV have acquired a cornerstone stake in Hiway Group. PII has a 14.3% share.

Please read the Hiway Group announcement.

For further information on Hiway Group please visit their website www.hiwaystabilizers.co.nz

 


 


Pohutukawa II invests in PF Olsen Group Limited 15 September 2011

Pohutukawa II has announced its fifth investment, into PF Olsen Group Limited, one of Australasia’s largest providers of professional forestry services.

PII/Direct Capital IV have acquired an initial 30% shareholding in PF Olsen (PFO). PII has a 7.1% stake.

Please read the PF Olsen announcement.

For further information on PF Olsen Group please visit their website www.pfolsen.com

 


 

Pohutukawa II invests in Scales Corporation Limited 3 May 2011

Pohutukawa II has announced its fourth portfolio company investment. Pohutukawa II and Direct Capital IV, together with co-investment from New Zealand Superannuation and Accident Compensation Corporation, have conditionally acquired a majority shareholding in Scales Corporation Limited (“Scales”), a leading New Zealand horticultural and primary processing, exporter and logistics business.

The combined equity stake to be acquired in Scales will be 79.7% of which Pohutukawa II’s shareholding will be 8.7%.

Please read the Scales announcement.

For further information on Scales please visit their website www.scalescorporation.co.nz

 


 

Pohutukawa II invests in Cavailer Wool Holdings Limited 24 December 2010

Pohutukawa II has announced its third portfolio company investment. Pohutukawa II and Direct Capital IV, have acquired a minority shareholding in Cavalier Wool Holdings Limited (“CWH”), New Zealand’s largest wool scouring company and a large service provider to New Zealand’s wool industry.

The combined Pohutukawa II and Direct Capital equity stake in CWH is 25% of which Pohutukawa II’s shareholding will be 6.0%.

Please read the CWH announcement. 

 


 

Pohutukawa II invests in Bayley Corporation Limited 21 June 2010

Pohutukawa and Direct Capital IV Partners acquired a minority shareholding in leading New Zealand real estate agency and professional property services provider Bayley Corporation Limited (Bayleys).

The combined Pohutukawa and Direct Capital IV Partners equity stake in Bayleys will be approximately 32% of which Pohutukawa’s shareholding will be approximately 7%.

Please read the Bayleys announcement.

For further information on Bayleys visit www.bayleys.co.nz

 


 

Pohutukawa II makes first investment in Transaction Services Limited 29 January 2010

Direct Capital, through its Direct Capital IV and Pohutukawa II funds, has invested $24 million to acquire a 49%, interest in Transaction Services Limited, Australasia’s largest third party recurring payment processing company.

Pohutukawa’s stake in Transaction Services is $5.7 million, or 11.6% of the company. This investment represents close to 7 cents per share of Pohutukawa shareholders’ capital.

Please read the Transaction Services announcement.

For further information on Transaction Services visit www.debitsuccess.co.nz