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.