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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news