Company attributes
Other attributes
Pencarrow Private Equity invests in New Zealand companies with an enterprise value ranging from NZ$20 million to NZ$100 million. Pencarrow is jointly owned by Nigel Bingham and Rod Gethen. Their investments are focused on manager buyouts's (MBO's) and expansion capital for companies across industries local to New Zealand.
Areas of investment include building materials, distribution, manufacturing, consumer products, business service and capital equipment.
Initially raised in 1993, the NZ$25 million fund was fully realized in 2007.
Initially opened in 1998, the NZ$138 million fund was fully realized in 2015.
Opened in 2005, the NZ$75 million fund was fully realized in 2016.
Opened in 2011, the NZ$124 million fund closed in 2013 and was fully deployed by 2015. his fund included a NZ$30 million commitment from the Guardians of New Zealand Superannuation Fund. Fund IV included the acquisition of Bell Tea & Coffee Company.
In 2016, Pencarrow raised their Bridge fund for NZ$80 million, which was fully deployed by April 2018. This fund included their investment into Auckland-based fund administration firm MMC.
In April of 2018, Pencarrow announced the completion of their Pencarrow V fund at NZ$250 million. The fund included commitment from Accident Compensation Corporation and Government Superannuation Fund Authority. All but one of the fund's capital commitments came from New Zealand based limited partners (LPs). The funds first major investment provided expansion capital, for a 39% stake, to The Collective.
Pencarrow invested NZ$14 million into RedShield in September of 2019. RedShield is web application and API protection developer.
Pencarrow invested in Avanti Finance Limited in January of 2019 for a 9.2% stake. Avanti Finance is a non-bank lending institution.
Pencarrow acquired a 39% stake in The Collective in May of 2018. The Collective manufactures high-protein yogurts and Kefir cultured milk drinks.
Pencarrow invested in Netlogix Group Holdings LTd. in October of 2017. Netlogix is a technology enabled freight logistics company.
Pencarrow invested in MIX cosmetics in March 2017. MIX is a manufacturer and distributor of haircare and natural skincare brands.
Pencarrow acquired a 50% stake in MMC in December of 2016. MMC is an Auckland-based fund administration firm.
Pencarrow invested in Icebreaker in November of 2015. Icebreaker is an outdoor activewear provider which focuses on social and environmental ethical practices. In April 2018, VF Corporation bought Pencarrow out of Icebreaker.
Pencarrow bought a 95% stake in BeGroup in 2011. BeGroup NZ Ltd. develops and manages high quality retirement living dwellings.
Pencarrow invested in Seequent in August 2014. Previously ARANZ Geo, Seequent has since acquired 3point Science Inc and Geosoft. Seequent develops 3D geological modelling software for the mining, hydrogeology and geothermal industries.
Pencarrow acquired Umbrellar in 2014. Umbrellar provides cloud hosting, domain name services and e-commerce payment services across New Zealand and Australia.
Pencarrow invested NZ $5 million in solarcity in July 2014. Solarcity, a provider of solar power and solar systems, committed the raised capital towards expansion across New Zealand.
Pencarrow acquired BrewGroup in July of 2014 as part of their Pencarrow IV fund. BrewGroup, formerly Bell Tea & Coffee Company, is New Zealand's oldest tea enterprise.
Pencarrow acquired BJ Ball Group in 2008. BJ Ball is a distributor of fine paper, supplying printing, publishing and office supply industries.
In May of 2006 Pencarrow invested in Phil&Teds Most Excellent Buggy Company. Phil&Teds manufactures a range of premium nursery products.
Pencarrow invested in Home Ideas Centres in 2006. Home Ideas operates exhibition space where companies can display products and services to home owners, builders and renovators. They sold their stake in Home Owners in 2011.
Pencarrow invested in NZ Crane Hire in 2005. They sold their stake in the owner and operator of mobile cranes, tower cranes and access equipment in 2015.
Pencarrow led a management buy-out/buy-in of Rishworth Aviation in 2005. Rishworth Aviation is a provider of aviation pilots and personnel. Empresaria Group plc, a specialist staffing group, bought an 82.6% stake of Rishworth from Pencarrow in July of 2016.
Pencarrow invested in CS Company in 2005. They sold their stake of the multi-brand cosmetics, fragrances, skincare and haircare distributor in 2010.
