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

 


Byron Group to officially open a new manufacturing plant

Byron Group to drive investment returns for Wolseley Private Equity following opening of new manufacturing plant

Thursday 13 February 2014 - 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.

Apart from growing domestic orders, the company is also growing internationally with strong orders in the Middle East and Asia. In fact the company has set up an office in Dubai to assist with demand.

The opening of the new 18,000 square metre manufacturing plant by New South Wales Premier Barry O’Farrell comes at a time when large international players Holden and Ford have announced they will cease car production in Australia.

Based in Smithfield, Western Sydney, the new Byron Group plant consolidates the company’s six divisions into the one location employing more than 200 staff to drive efficiencies and improving collaboration on projects and orders. The company had been previously spread across five sites.

Sydney-based mid-market private equity firm Wolseley acquired Byron Group in 2010.

Wolseley Managing Director and Byron Chairman Mark Richardson said the firm was attracted to the company because it had a proven footprint in a traditional market and due to its bespoke approach was in a powerful position to build on its niche market.

“Wolseley’s investment strategy is focused on growth. We pursue investment opportunities where our team can add value through our knowledge, skills and capabilities in co-operation with the company’s management team – so Byron Group presented the perfect fit,” Mr Richardson said.

“We also have a strong focus on strategy, adopt a hands-on operating approach and partner with experienced owners and managers – a true partnership approach – to ensure incentives are aligned to a successful exit.”

In keeping with its partnering approach, Wolseley appointed Bill Pike as Chief Executive in 2012, through its Bankable CEO© Program to help the company through its next phase of growth.

Mr Pike has a three-decade career working for multinationals, with leadership roles with the Australian operation of Komatsu, Toyota and Mitsubishi.

“Through Wolseley’s Bankable CEO© Program, we welcome the opportunity to work with experienced, capable and energetic senior executives. We believe with their industry insights and contacts and our team’s capabilities to support strategic thinking and execute transactions, together we can generate exciting opportunities for value creation,” Mr Richardson said.

Apart from ambulances, Byron Group is Australia’s leading innovator and home grown producer of hospital and pre-hospital retrieval and rescue solutions, such as bariatric stretchers, spinal boards and extrication devices. It also specialises in the manufacture and maintenance of aircraft furnishings, composite structures and inflight equipment for the aviation and military industries.

Further, it delivers the latest software and hardware technologies to assist with integrated data management and control systems for vehicles and fleets, such as satellite navigation and communication.

Byron Group was acquired by Wolseley Private Equity as part of its Fund II investment activity. Wolseley is currently raising $300m for its Fund III.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news