WEBVTT 00:00:08.240 --> 00:00:12.720 Financial Investors are definitely becoming more active in the New Zealand M&A market. 00:00:12.760 --> 00:00:15.960 We can see that in the recent transactions that have been coming through. 00:00:16.200 --> 00:00:19.520 The real benefit of financial investors is that quite often they can bring 00:00:19.520 --> 00:00:21.880 a lot more than just capital to a transaction. 00:00:21.880 --> 00:00:24.720 So, knowledge and experience of a sector, 00:00:24.720 --> 00:00:27.360 introduction to potential additional customers 00:00:27.360 --> 00:00:29.680 and support entering new geographies 00:00:29.680 --> 00:00:33.080 and also support regarding governance systems and processes. 00:00:33.080 --> 00:00:36.920 So, beyond purely the sticker price for doing a transaction, 00:00:36.920 --> 00:00:38.960 it's really important that when you're looking 00:00:38.960 --> 00:00:41.760 at the potential partner that you bring on board, 00:00:41.760 --> 00:00:44.720 that you explore all of the other benefits they may bring 00:00:44.720 --> 00:00:46.960 to your business as part of the transaction. 00:00:47.320 --> 00:00:49.560 Within the category of financial investors, 00:00:49.560 --> 00:00:51.920 we're also seeing an increasing participation 00:00:51.920 --> 00:00:56.520 by Australian based investors into the New Zealand M&A market. 00:00:56.520 --> 00:00:59.280 So that's whether they're exploring New Zealand based businesses 00:00:59.280 --> 00:01:02.840 for which they could expand their Australian operations 00:01:02.840 --> 00:01:05.960 or looking for New Zealand opportunities to invest 00:01:05.960 --> 00:01:09.760 to help those Kiwi businesses move over into the Australian market. 00:01:10.040 --> 00:01:12.960 Overall, these financial investors bring far more than a cheque book 00:01:13.120 --> 00:01:16.960 and we're seeing an increasing trend of their participation in transactions. 00:01:47.960 --> 00:01:51.960 and really support organisations achieve their growth aspirations.