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M&A Deal Summary

Direct Capital Acquires Hiway Group

On January 10, 2012, private equity firm Direct Capital acquired engineering company Hiway Group

Acquisition Highlights
  • This is Direct Capital’s 1st transaction in the Engineering sector.
  • This is Direct Capital’s 30th transaction in New Zealand.
Investment Fate
  • Hiway Group was sold to a consortium of financial buyers in 2018.
  • Hiway Group was sold to a consortium of financial buyers in 2024.

M&A Deal Summary
Date 2012-01-10
Target Hiway Group
Sector Engineering
Buyer(s) Direct Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Hiway Group

Auckland, New Zealand
Hiway Group provides solutions for road, rail and pavement stabilization, slip and slope reinforcement, soil mechanics, geotechnical design and contamination remediation. Hiway Group was founded in 1982 and is based in Auckland, New Zealand.

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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 33 of 46
Sector: Engineering M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 26 of 27
Country: New Zealand M&A 30 of 38
Year: 2012 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-15 PF Olsen

Rotorua, New Zealand

PF Olsen is a provider of independent professional forestry services to a diverse range of clients including TIMOs, farmers, investors, Maori groups, government agencies, and others. PF Olsen services include forest and harvesting management, log sales, consulting, due diligence, valuations, feasibility studies, investment, and provision of tree stocks and Radiata pine seed. PF Olsen was founded in 1971 and is based in Rotorua, New Zealand.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-05 GoBus

Hamilton, New Zealand

GoBus Limited (?GoBus?) is a leading provider of public transport services in the Waikato region, providing urban, school and charter/tour bus services. GoBus was formed in 2003 from the amalgamation of four local bus companies ?Blue Worth?, ?Simpson? and ?Hodgson? and ?HCB?. The Company now employs 460 people, and operates a fleet of 410 vehicles, 4 workshop facilities and 8 depots around the Waikato region.

Sell -
Mergr

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