Selected Recent PwC Transactions

PwC advised Craig Heatley on the acquisition of a strategic stake in Blue Star Group.  |  February 2024

• PwC advised Craig Heatley on the acquisition of a strategic stake in Blue Star Group from Mercury Capital.      
• Blue Star Group is a leading provider of print, marketing, and communications solutions in New Zealand. They offer a wide range of services including digital printing, offset printing, signage, direct mail, and promotional products.

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  Gareth Galloway Swathi Parikh

Sale of Spencer Henshaw |  December 2022

• PwC advised Spencer Henshaw on its sale to Citycare Property Limited.
• Spencer Henshaw is one of New Zealand's oldest property management companies. Spencer Henshaw specialises in managing a full range of property repair, maintenance and upgrade services to government clients for residential properties.
   

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Sale of Access-It Group |  December 2022

• PwC advised the shareholders of Access-It on its sale to Follett School Solutions - a Francisco Partners portfolio company.
• Access-It is a global library management system provider with over 3,400 SaaS users in 45+ countries. The Group’s core technology, Accessit Library, is built upon 28 years of best practice library management and global user experience and insights.

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Rod Harris

Sale of TUMU Building Supplies |  September 2022

• PwC advised the shareholders of TUMU on the sale of six TUMU building supply stores and a frame and truss plant to Fletcher Building Limited.
• TUMU building materials have been supplying the rural, joinery and building industries in the Hawke’s Bay since 1982. Employing around 200 people across six branches and a frame and truss plant. TUMU is recognised as an important regional operator across the East Coast of the North Island, with a strong history and impressive commitment to community.

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Matthew Yates

Sale of McKechnie Aluminium Solutions |  August 2022

• PwC advised the shareholders of McKechnie Aluminium Solutions on its sale to Whiting Holdings.
• With over 65 years of operating experience, McKechnie has become a leading New Zealand manufacturer of world-class aluminium products. McKechnie provides a broad range of aluminium extrusions, stocked and fabricated products to the automotive, marine, retail hardware, electrical, transport, residential and commercial construction sectors.

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Nick McVerry   

Rangatira Capital Raise |  August 2022

• PwC advised Rangatira on its capital raise, raising $46m from a number of high net worth investors.
• Established in 1937, Rangaitra is a New Zealand based investment company and is listed on the Unlisted Stock Exchange (USX). Rangatira invest patient capital in private businesses, taking minority and majority stakes with the objective of a providing a sustainable 10-12% return via a combination of cash return and capital growth.

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Carl Blanchard    Chris Croft

Investment in JUCY Rentals |  August 2022

• Following a recapitilsation of the JUCY Group by Polar Capital (and others) in November 2020, PwC further advised the new shareholding group of JUCY Rentals on additional investment from Next Capital.
• JUCY Rentals operates a campervan-focused rental business across New Zealand and Australia. 

  The investment by Next Capital was used to fast-track capital expenditure and provide further working capital as the business looks to expand and capitalise on opportunities post COVID-19.

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Matthew Yates   Craig Armitage

Investment in Prolife Foods | July 2022

• PwC advised the shareholders of Prolife Foods on its partial sale and capital raise supported by a strategic European investor.
• Founded in 1984 by shareholders Bernard & Kaye Crosby, Prolife Foods is an Australasian based healthy snack foods business with a global sales footprint extending to 18 countries. It is one of New Zealand’s largest importers, manufacturers and marketers of nuts, dried fruits, snacks, cereals, spreads (including Mānuka honey) and confectionery products.
• The Company has a number of well recognised brands such as Mother Earth, Haddrell’s and Donovans and has a very well established supermarket “self selection / bins” offering in New Zealand and Australia.

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 Rod Harris

Sale of Farro  |  May 2022

• PwC advised the founding shareholders and management team of Farro on its majority sale to Waterman Capital.
• Farro is the largest premium grocery retailer in New Zealand. Featuring six stores across Auckland, Farro provides the best and finest New Zealand and international food.

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 Chris Croft

Sale of AIM Services |  June 2022

• PwC advised Auckland Council on the sale of its maintenance business unit (AIM Services) to facilities management company Programmed.
• First formed in 1995, the Auckland City Council owned business unit was known as City Park Services and employed a team of 35. It has grown to 300 employees. At the time of sale, AIM Services provided full facility maintenance services for the Albert-Eden, Aotea Great Barrier, Puketāpapa, Waiheke and Whau local board areas. Auckland Council began exploring strategic options in 2020, the decision to sell was made in July 2021, and Programmed was announced as the successful buyer in December 2021.

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Purchase of Gull New Zealand |  March 2022

• PwC advised Allegro Funds on its acquisition of Gull New Zealand from Ampol Limited.
• Allegro Funds is a leading private equity firm in Australia and New Zealand for complex and active business transformations. Gull New Zealand operates a network of 112 primarily unmanned fuel service stations and, via its ownership of Terminals New Zealand, owns and operates a 91ML import terminal at Mount Maunganui. 

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 Richard Longman

Investment in The Mind Lab |  February 2022

• PwC advised the founding shareholder of the The Mind Lab (including Tech Futures Lab) on investment from The Inspire Impact Fund.
• The Mind Lab is a Tertiary Education Organisation offering innovative postgraduate programmes that build relevant skills and capabilities to match the requirements of a constantly changing world.

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Sale of Red Badge Group  |  December 2020

• PwC advised the majority shareholders of Red Badge Group on its management buy-out.
• Red Badge is a security company, providing security guards and event staff to customers around New Zealand.

Sale of Holyoake Air Management Solutions |  December 2020

• PwC advised Holyoake Industries on the majority sale of Holyoake Air Management Solutions to Price Industries.
• Holyoake Air Management Solutions manufactures a full range of air distribution and certified fire control products, primarily used in the commercial construction market throughout New Zealand and Australia. Holyoake Air Management Solutions operates from seven manufacturing sites across New Zealand and Australia. 
• The business was founded by Noel Holyoake 66 years ago.

Sale of Mighty Ape | December 2020

• PwC advised Mighty Ape on its sale to Kogan.com.
• Mighty Ape is one of New Zealand's leading online retailers, with a focus on gaming, toys and other entertainment categories. Operating online stores in New Zealand and Australia, Mighty Ape has more than 690,000 unique customers and more than 895,000 subscribers.

 Regan Hoult

Capital raise for JUCY Group  |  November 2020

• PwC was appointed to undertake a capital raise to recapitalise JUCY, allowing the business to continue trading during COVID-19. Capital was provided by Polar Capital.
• JUCY operates a campervan-focused rental business across New Zealand and Australia. In New Zealand, JUCY also operates JUCY Cruise in Milford Sound and JUCY Snooze accomodation in Auckland, Christchurch and Queenstown.
• JUCY is a household brand chosen by over 538,000 travellers every year. The Company was founded in 2001 and started as a car rental business with 35 vehicles.

Sale of Ethique  |  October 2020

• PwC acted as exclusive financial advisor to the shareholders of Ethique on its sale to a retail investment group.
• Ethique is a sustainable lifestyle and beauty brand based in Christchurch, New Zealand which sells solid beauty bars wholesale and direct to consumers. All of Ethiques products are plastic-free; palm-oil free; and cruelty-free. 
• Since being established in 2012 Ethique has gone from strength to strength and entered the international market in 2016 and has continued to have strong growth since.

Sale of EAP Services  |  October 2020

• PwC advised EAP Services on its sale to Habit Health.
• EAP Services is New Zealand’s leading provider of employee counselling and other support services to over 2,700 private (corporate and SME) and public sector organisations.

Sale of Airborne Honey  |  August 2020

• PwC acted as financial advisor to Airborne Honey on its majority investment from a private investment group.
• Airborne is New Zealand’s oldest honey company, trusted by households for over 100 years and recognised for its industry leading technical expertise. The company offers a comprehensive range of products to domestic and export markets. Behind each jar of honey is over 110 years of experience, 30 years of honey sampling and testing and a honey database containing more than 40,000 records.

Sale of Egmont Honey  |  August 2020

• PwC advised the founder shareholders of Egmont Honey on the sale of their 50% shareholding to The Better Health Company (trading as GoHealthy).
• Egmont Honey is one of the largest producers and distributors of Manuka Honey in the world. Based in New Zealand, it exports Manuka honey to over 200 countries and territories around the world.

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Sale of Freeparking  |  August 2020

• PwC advised Umbrellar on the sale of Freeparking to Web.com.
• Freeparking is New Zealand’s number one domain name and web hosting services provider, serving more than 85,000 customers and operating four brands including Freeparking, Open Host, Domains4less and Discount Domains.

Investment in Totara Learning Solutions  |  June 2021

• PwC advised Five V Capital on its investment in Totara Learning Solutions.
• Totara is a learning management platform business with its products used by over 1,800 organisations globally, including Pepsi, JetBlue, Yamaha and USDA.

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Regan Hoult

Sale of Caci Clinics  |  June 2020

• PwC advised Fab NZ, the franchisor of the Caci Clinics, on its minority sale to Direct Capital.
• Caci Clinics is a premium provider of skin and appearance treatments across 50 clinics nationwide. Caci knows one-off treatments just don't work. Instead Caci's focus is on Memberships tailored to the individual, to provide long-lasting results, delivered through a subscription model.
• Caci Clinics has been operating for 25+ years after the first clinic was opened in Auckland in 1994.

Sale of Smiths City  | May 2020

• PwC acted as financial advisor to the shareholders of Smiths City Group on its sale to Polar Capital.
• Based in Christchurch, Smiths City has a 100-year history of supporting heartland New Zealand. Polar Capital have become the new owners of 23 Smith City stores across New Zealand as well as Smiths City Finance.