Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Hirepool Parent opens new Energy Division

MEDIA RELEASE

Hirepool Parent, Rakino Group, opens new Energy Division with moves Into the Power Generation Market

Auckland, 28 November 2006: Rakino Group has broadened its interest in the New Zealand industrial sector with the acquisition of Power Plant Supplies Ltd, ahead of the launch of Hirepool Energy, the new power generation and pump rental division.

Chief Executive Tenby Powell says the purchase of Power Plant Supplies, the No.2 player in the power equipment distribution market, broadens Rakino Group’s portfolio alongside hire equipment leader, Hirepool Limited and sister company Nationwide Equipment Ltd, the local distributor for Takeuchi excavators.

Since the sale of Rakino Group to Australian private equity investor, Next Capital in July, Mr Powell, who has retained 20% of the business, says the focus has been on “Hirepool’s continued growth with the additional aim of creating a leading New Zealand distribution group. Taking a stand in the power generation sector through Power Plant Supplies goes a long way to making that happen,” he says.

“With Power Plant Supplies now on board as a sister company to Hirepool, we can establish an energy division which not only gives us an in-house energy source, it also enables us to supply our Hirepool customers nationwide.” Rakino Group also has plans to develop a new site on Great South Rd, adjacent to the current Hirepool HQ.

Specialists in the supply, installation and maintenance of generator systems and pumping equipment, Power Plant Supplies Ltd is the New Zealand importer and supplier of Europe’s top generators, Himoinsa machines and of global market leader Selwood pumps. It has supplied more than 1,000 generator sets across New Zealand and the Pacific Islands since it was established 15 years ago.

All staff at Power Plant Supplies Ltd will be retained with owner Alistair McDonald staying on as General Manager. Alistair says the agreement is a great opportunity for his business. “We look forward to new challenges and working alongside the Hirepool team. Power generation is an exciting industry – you never have the chance to get bored,” he says.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>