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News
0 David Kirk in for payday as Straker Translations lines up $83m float

Straker Translations is lining up to float on the Australian Stock Exchange next month, the Herald understands.

The float will aim to raise A$21 million at an A$80m ($83m) valuation – a little lighter than the company has previously talked-up.

Co-founder Grant Straker was not immediately available for comment, but has previously said his company is on track to break even this year.

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0 Everest Ice Cream launches rebrand

Everest Ice Cream revealed its rebrand at the Fine Food Show in Melbourne last week.

“We are incredibly excited to launch the next evolution of Everest Ice Cream,” Everest Ice Cream CEO Darren Pike said.

“It’s a fresh new look which finally aligns to the business’ product quality and innovation and anchored in our strategic transformation plan which centres on brand and product, sales force excellence, new investment in manufacturing and identifying strategic partnership opportunities.”

Australian private equity firm, Allegro Funds, acquired Everest Ice Cream in 2017. Allegro Funds claims to have recognised the potential to rejuvenate the ice-cream brand, by investing $6-10 million over three years.

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0 Australia’s National Veterinary Care buys Pet Doctors NZ

Australia’s National Veterinary Care will pay up to A$27 million for Pet Doctors NZ to fast-track its expansion on this side of the Tasman.

The Queensland-based company will pay A$22.7 million upfront for the 23 clinics and two training centres with earn-outs of up to A$4.3 million. National Veterinary Care (NVL) already has 10 clinics with a database of 28,000 pet patients and 130 staff in New Zealand. Adding the larger Pet Doctors, with its 300 staff and 55,000 pet patients database, makes it the biggest vet chain in New Zealand and diversifies the group’s revenue outside Australia.

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0 Seequent sells equity to Silicon Valley’s Accel-KKR

Silicon Valley private equity firm Accel-KKR has made an investment in Christchurch-based developer of visual data science software Seequent (formerly ARANZ Geo). Terms of the investment were not disclosed, but it has been reported that Seequent has sold 70 percent of its equity for around $100m.

Accel-KKR said Seequent’s global headquarters would remain in Christchurch and the company would continue to run R&D from New Zealand, Canada and South Africa. Accel-KKR managing director, Dean Jacobson along with founding partner Tom Barnds and vice president Andy Rich will join the board of Seequent. Seequent also received funding from Wellington-based private equity firm Pencarrow in 2014. Nigel Bingham, a managing partner of Pencarrow Private Equity and Seequent’s chairman, said Seequent had been one of the star performers in Pencarrow’s investment portfolio, and the company would continue to be an investor in Seequent.

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0 US investment company injects more than $100m into Kiwi tech firm

Seequent’s computer modelling software has been used to help store radioactive waste for 100,000 years or more in a depot in Finland, and on the Karavanke motorway tunnell in Slovenia.

The company is known around the world for its 3D software called Leapfrog which has been used in the mining and minerals industry for 15 years – nearly all its software services are exported.

The software can provide pictures of geological underground or undersea features enabling geologists and business executives to learn more about environmental issues and help make investment decisions.

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