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Taranaki Electrical Service powerhouse forms

Taranaki Electrical Service powerhouse forms following merger

Embargoed Date: Monday November 19, 2012


Leading Taranaki electrical service company Greaves Electrical and subsidiary Linepower has merged with Hawera-based Sutherland Electrical.

The merger will see the formation, under the Greaves Electrical banner, of one of the largest electrical service companies in Taranaki and the creation of one of the largest businesses and employers in the South Taranaki.

Greaves Electrical director David Macleod said it was a testament to the strength of both companies to be announcing the growth of a local business in what have been volatile economic times for the region and the country.

“The merger provides greater resources and services for our shared clients,” he said. “It ensures all our customers have access to the seven-day-a- week, 24-hour comprehensive range of service and support offered by Greaves Electrical.”

Mr Macleod said the companies would combine many years of collective experience, allowing for the provision of a comprehensive range of electrical services including: domestic, dairy, commercial, industrial and heavy industrial electricians, instrument technicians, electrical inspection, line mechanics, overhead and underground network servicing, electrical engineering and design work, and an appliance testing service.

Sutherland Electrical owner Tim Reid said the merger was an outcome that added value to all involved.

“Greaves Electrical is a strong Taranaki business that has continued to grow and increase its range of support and services over the 45 years it has been in business,” he said.

“It is exciting to be joining the Greaves team. The merger ensures our customers have access to a wider range of services and access to seven-day-a- week, 24-hour support.

Mr Reid said all his staff will move across to join the Greaves Electrical team from Monday November 19.

“The only changes our customers will notice will be in the name on the vehicle that comes to do the work,” he said.

New Managing Director announced

New Greaves Electrical shareholder and Director, Tim Reid, will become the General Manager of the new merged company.

Outgoing Managing Director David MacLeod will stand down from November 19 as Managing Director of Greaves Electrical.

Mr MacLeod said increased demands for his time on the board of Fonterra Dairy Co-operative Limited, Chairman of Taranaki Regional Council, Director of Port Taranaki Limited and Director of Parininihi Ki Waitotara Incorporated, had led to the decision to share some of his significant workload. The move will see Mr Reid take over the day-to-day running of the business.

Mr MacLeod said he was also looking to inject fresh leadership for the next phase of Greaves Electrical’s growth and development.

“Tim is a dynamic, driven and professional leader who can provide the hands- on leadership a thriving business like Greaves Electrical requires,” he said.
“I have continued to be impressed by Tim’s drive, professionalism and ambition. The merger allows him to expand his business and he provides some new blood and direction for Greaves Electrical.

“I am honoured to have someone of Tim’s ability on our team, and to take over as General Manager. I will continue to work in and support the business, increasingly focusing on special projects.”

Mr Reid said he was excited by the challenge and looked forward to continuing the strong success the company had enjoyed in its 45 years in business.

“We have an amazing team and a comprehensive range of services and business units. We will continue to grow and continue to provide the level of service and support the people of Taranaki have come to expect.”

Mr Reid said customers and members of the public would notice little change following the merger.

“It is business as usual for all our team. We will continue to meet the electrical needs of the people of Taranaki.”


Background
Greaves Electrical
Employing more than 50 staff throughout Taranaki, AJ Greaves Electrical Limited is one of the largest electrical contracting company’s within the province. Greaves Electrical Limited has had a presence in the Taranaki region for over 45 years and today provides a comprehensive, quality service including maintenance, installation, construction, fault-finding, inspection and commissioning to many local medium-to-large sites.
Sutherland Electrical
Opened in Hawera in 1969. Sutherland Electrical is a long-standing South Taranaki business that provides electrical services to more than 150 residential and business clients throughout the region.
The company is owned by Tim Reid and employs four staff operating out of 65 Union St Hawera.

David MacLeod - Managing Director
David is a registered electrician who has worked for the company for 22 years during which time he acquired ownership of the business from its founders. David’s leadership and strategy have driven the growth of Greaves Electrical. David has an intimate knowledge of the electrical contracting business, especially in Taranaki. He has established enduring working relationships with Greaves customers.
David’s capabilities are well recognised. He is Chairman of Taranaki Regional Council, Director of Port Taranaki Limited, Director of Fonterra Dairy Co-operative Limited and a Director of Parininihi Ki Waitotara Incorporated.

Questions and Answers
What has occurred?
Taranaki electrical service provider Greaves Electrical has merged with Hawera-based Sutherland Electrical. Sutherland owner Tim Reid has, as a result of the merger, been appointed General Manager of the merged company under the Greaves Electrical brand

Will the merger result in any job losses?
No. All staff from Sutherland will relocate and work out of the Nelson St offices of Greaves Electrical

Wasn’t this just a takeover, or a buy-out of a smaller company?
You sell or merge your company with a larger one either when the price and/or time is right, or if you have to. I DID NOT HAVE TO merge, says Tim. The merger was a no-brainer. For Sutherland Electrical it provided the chance to grow and expand our range of services.
That Tim has been appointed General Manager speaks volumes in how mutually agreeable this merger was to both businesses, says David.

Why is David MacLeod standing down as Managing Director
Last year David was elected to the board of Fonterra Dairy Co-operative Limited. He continues as Chairman of Taranaki Regional Council, Director of Port Taranaki Limited and a Director of Parininihi Ki Waitotara Incorporated. The appointment of a new director and Managing Director will ensure David can focus on all of his responsibilities, while having someone to drive the success of Greaves Electrical.

What is the value of the merged company?
That is commercially sensitive information.

What share of the company did the merger provide to new Director Tim Reid?
Tim Reid and David MacLeod will have a 50/50 ownership in the new merged company.

How many employees does the new merged company have?
54.

Are there any plans to merge with other companies?
We are a business focused on meeting all the electrical needs of our clients.. If a company can add value to what we do and improve the service we provide to our customers, then we remain open to further mergers and acquisitions.

When does this merger happen?
November 5, 2012. From this date all operations will be based from Greaves Electrical Nelson St Hawera.

What does the merger mean to existing clients?
The merger will have limited impact on our clients. For Sutherland Electrical customers it will mean a change in contact details and address and in the name on the vehicle when our staff visit. However, all staff will move across from the existing operation so the personnel customers deal with will likely be the same at the new location.



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