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News
0 Ngai Tahu, Tainui, Pioneer Capital buy Waikato Milking

Commercial iwi heavyweights Tainui Group Holdings and Ngai Tahu Capital have teamed up with private investor Pioneer Capital to buy dairy technology manufacturer Waikato Milking Systems for an undisclosed sum.

The three parties will hold a third of equity in the partnership with senior management to take a minority stake in a deal expected to settle on March 31, they said in a statement. They bought the stake after Waikato Milking Systems shareholder UPC Capital engaged PwC to run a sale process last year attracting local and international interest. No price was disclosed.

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0 Wireless charging edges closer

The prospect of being able to recharge devices such as smartphones and cameras wirelessly has edged closer after two international standards bodies merged.

Auckland firm PowerbyProxi, which is a global player in the nascent wireless charging industry with 130 patents, and deals with technology giants Samsung and Texas Instruments, could be one of the beneficiaries.

Wireless charging promises to let consumers get rid of a spaghetti of cables and adapters in their homes, but rival technical standards have threatened to slow progress.

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0 New capital commitments to Australian funds decline by $2.4 billion

New capital committed to Australian venture capital and later stage private equity funds decreased by 77 per cent ($2.4 billion) in the 2012-13 financial year according to figures released today by the Australian Bureau of Statistics (ABS).

“This is the largest decrease we have seen since we first started publishing this data for the 2004-05 financial year,” said Ms Tracey Rowley, Assistant Director of Research and Development Surveys.

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0 Byron Group to officially open a new manufacturing plant

One of Wolseley Private Equity’s leading portfolio companies, Byron Group, will officially open a new multi-million dollar manufacturing plant in Sydney today.

With an annual turnover of $50m, Byron Group continues to be Australia’s largest designer, manufacturer and exporter of ambulances.

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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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