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News
0 Investment in Energyworks

Direct Capital today announced that it had completed an investment in Taranaki-based, Energyworks Limited, New Zealand’s leading provider of mechanical services to the onshore oil and gas,power generation and petrochemical industry.

The investment is alongside the existing owners, managing director, Dallas Chadwick and chief executive, Allen Clarke, both of whom will continue to be significant shareholders in the company and continue to manage the business. Direct Capital’s Mark Hutton will join the Energyworks board and an independent director is expected to be appointed.

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News
0 Recasting private equity after the financial crisis

This article published by the European Corporate Governance and written by Tilburg University academics examines the post-financial crisis trends in the private equity industry, showing investors are demanding the inclusion of more investor-favorable compensation terms in limited partnership agreements.

The findings suggest these new terms not only provide the investors with more favorable management fee and profit distribution arrangements, but also give them more control over the fund’s investment decisions.

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0 Chinese enter running to buy waste giant

The sale process for New Zealand’s biggest waste disposal company – Transpacific Waste Management – has taken a new turn with the emergence of private equity company Beijing Capital of China as a possible trade buyer, market sources said.

Private equity companies Carlisle Group and KKR, along with New Zealand specialist infrastructure group Infratil, are also understood to be potential trade buyers for Transpacific Waste Management, which is owned by Australia’s Transpacific Industries (TPI).

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0 WotWots prepare to invade on a grand scale

The WotWots will soon invade bedrooms throughout Turkey and Russia after Wellington’s Pukeko Pictures signed a home textiles deal with Zorluteks Textile.

The preschool TV twosome will feature on a range of textiles, including bed linen, duvets, bed skirts, pillow cases, comforters, curtains, bath towels, terrycloth robes, polar fleece blankets, acrylic blankets, plush cushions, ready beds and window shades.

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0 NZX listing on cards for Wherescape

Cashed up with more than $10 million in fresh capital, Auckland software firm Wherescape is in expansion mode and considering listing on the NZX.

Founded in 2002 by Michael Whitehead and Wayne Richmond, the company develops data warehousing products that allow organisations to store, organise and access large volumes of information.

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