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

 


Gentrack, eyeing listing, adds Coupe and Shaw to board

Gentrack, eyeing listing, taps Takeovers Panel’s Coupe, accountant Shaw for board

May 6 (BusinessDesk) – Gentrack, which sells software for utilities and airports, has appointed New Zealand Takeovers Panel deputy chair Andy Coupe and accountant Graham Shaw as independent directors, swelling its board to five and signalling it is closer to going public.

Coupe had a three-decade-long career in investment banking at UBS New Zealand and Shaw’s roles include being a director of Xero and chairman of Jeff Gray European, the Auckland-based company said in a statement. They bring the company’s independent directors to three including Leigh Warren, while chairman John Clifford and executive director James Docking round out the board.

The company’s two software products are Gentrack Velocity, a billing product for energy and water utilities, and airport management system Airport 20/20. The products had originally been developed by Talgentra, an Auckland-based company that was sold to Australian metering company Bayard and ANZ Capital in 2009.

Clifford and Docking, who has run the Gentrack business since 1995, teamed up to buy Talgentra in 2012. Fair value of the net assets acquired was $53.9 million, according to the company’s 2013 annual report, including goodwill of $40 million, the bulk of which was allocated to the utilities business.

Clifford and Docking each hold 21 percent of the company, which has a total of 21 shareholdings and 19.2 million shares on issue.

Gentrack has 150 utility and airport customers in 20 countries, and employs 180 people in offices in Auckland, Melbourne and London, according to its statement. Sales in the 12 months ended Sept. 31, 2013, was $40 million, generating a profit of $6.6 million.

The company would probably raise capital in a listing to repay debt and finance its growth, and becoming a public company would also polish its credibility as a global player.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news