M&A Deal Summary

Pencarrow Private Equity Acquires New Zealand Frost Fans

On November 16, 2019, private equity firm Pencarrow Private Equity acquired manufacturer New Zealand Frost Fans

Acquisition Highlights
  • This is Pencarrow Private Equity’s 1st transaction in the Manufacturing sector.
  • This is Pencarrow Private Equity’s 18th transaction in New Zealand.

M&A Deal Summary

Date 2019-11-16
Target New Zealand Frost Fans
Sector Manufacturing
Buyer(s) Pencarrow Private Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

New Zealand Frost Fans

Hawke's Bay, New Zealand
New Zealand Frost Fans is a designer and manufacturer of frost protection solutions for a wide range of crops, including grapes, nut, apples, citrus, and avocados. NZFF is a supplier of frost fans in Australia and New Zealand as well as selling to overseas markets including Turkey and Chile. New Zealand Frost Fans was established in 2007 and is based in Hawke's Bay, New Zealand.

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Buyer(S) 1

Buyer

Pencarrow Private Equity

Wellington, New Zealand

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 692M NZD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Pencarrow Private Equity is a private equity firm focused on investing in New Zealand owned and operated businesses. Pencarrow looks to support management buyouts, management buy-ins, and provide expansion capital for companies operating in a variety of sectors. Areas of interest include building materials, distribution, manufacturing, consumer products, business services, and capital equipment. Target companies are typically valued between NZ$20 and $150 million where the Firm can commit $10 to $30 million in equity capital. Pencarrow Private Equity was formed in 1993 and is based in Wellington, New Zealand.


DEAL STATS #
Overall 19 of 24
Sector: Manufacturing M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 8 of 11
Country: New Zealand M&A 18 of 23
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-17 RedShield Security

Wellington, New Zealand

RedShield Security is a provider of advanced shielding and protection for web applications and application programming interfaces. The software product is easily deployed over the top of an entity's existing code base to rapidly protect against cyber threats. RedShield sells to a range of customers located in New Zealand, Australia, the United States, and the United Kingdom. RedShield Security was established in 2008 and is based in Wellington, New Zealand.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Skin Institute

Auckland, New Zealand

Skin Institute is a provider of dermatological medical practice. Skin Institute offers treatments and services that include skin cancer, veins, cosmetic surgery, and appearance medicine. Skin Institute also has two retail brands, Lovely by Skin Institute and Off & On, that provide appearance medicine services to the mass-consumer market. Skin Institute was established in 1994 and is based in Auckland, New Zealand.

Buy -