M&A Deal Summary

Direct Capital Acquires Robinhood

On May 1, 1995, private equity firm Direct Capital acquired manufacturer Robinhood

Acquisition Highlights
  • This is Direct Capital’s 1st transaction in the Manufacturing sector.
  • This is Direct Capital’s 1st transaction in New Zealand.
Investment Fate
  • Robinhood was sold to a strategic buyer in 2003.

M&A Deal Summary

Date 1995-05-01
Target Robinhood
Sector Manufacturing
Buyer(s) Direct Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Robinhood

Auckland, New Zealand
Robinhood is a manufacturer and distributor of Robinhood branded rangehoods, supertubs and ironing centres for the New Zealand and international markets.

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Buyer(S) 1

Buyer

Direct Capital

Auckland, New Zealand

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.7B NZD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Direct Capital is a private investment firm focused on private equity and venture capital investments in Australia and New Zealand. Direct Capital's later stage investment area looks to commit NZ$20 to NZ$80 million in companies with revenues up to NZ$300 million. Target sectors include retail, food, consumer products, healthcare services, distribution, life science, and manufacturing. Prospective transaction situations include successions, management buyouts, expansions, acquisitions, and pre-IPO placements. Direct Capital was formed in 1994 and is based in Auckland, New Zealand.


DEAL STATS #
Overall 2 of 46
Sector: Manufacturing M&A 1 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 27
Country: New Zealand M&A 1 of 38
Year: 1995 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-01 Blue Star Group Australia Pty

Homebush, Australia

Blue Star Group Australia Pty Ltd. is a Trans-Tasman communications group, providing sheetfed, digital and web printing, print management, direct mail, and national logistics operations. Blue Star was established in 1991 and is based in Homebush, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-05-15 PC Direct

New Zealand

PC Direct manufactured, distributed and supported personal computers under its own brand in New Zealand. Its sales channel was the direct, phone-based, channel by-passing the reseller network. Commencing business in 1989, the company grew from revenues of NZ$18m in 1993 to NZ$45m in 1995 when Direct Capital invested. This growth was leveraged off the company?s integrated system ? linking design, inventory, production, sales, despatch, service and accounting. The systems developed by PC Direct provided one of the company?s main competitive advantages

Buy -