M&A Deal Summary

Direct Capital Acquires Tasman Building Products

On April 1, 1998, private equity firm Direct Capital acquired building materials company Tasman Building Products for 7M USD

Acquisition Highlights
  • This is Direct Capital’s 1st transaction in the Building Materials sector.
  • This is Direct Capital’s largest (disclosed) transaction.
  • This is Direct Capital’s 11th transaction in New Zealand.
Investment Fate
  • Tasman Building Products was sold to a consortium of financial buyers in 2001 for 165M AUD.
  • Tasman Building Products was sold to a strategic buyer in 2003 for 230M AUD.

M&A Deal Summary
Date 1998-04-01
Target Tasman Building Products
Sector Building Materials
Buyer(s) Direct Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 7M USD

Target

Tasman Building Products

Penrose, Auckland, New Zealand
Tasman manufactures, markets and distributes various building products supplying the resident, commercial and industrial building industries.

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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 12 of 45
Sector (Building Materials) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 9 of 27
Country (New Zealand) 11 of 37
Year (1998) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-09-01 Open Holdings

New Zealand

The OPEN Group is a Wellington-based company that designs, manufactures and integrates solutions that enable network service providers to deliver Internet / e-Commerce services to their customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-12-01 Moore Australia

Sydney, Australia

Moore Australia manufactured, marketed and sold business forms, customer communication systems, data management systems and associated equipment to 11,000 customers in Australia.

Buy -
Mergr

Product

Company

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