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

 


ARANZ Geo secures investment funding

ARANZ Geo secures investment funding from Pencarrow to accelerate global growth

CHRISTCHURCH, NZ, 4 August 2014 - ARANZ Geo Limited, a world leader in the visualisation and interpretation of geological sciences for the mining, hydrogeology and geothermal industries, today announced that Wellington-based Pencarrow Private Equity has taken an equity stake in the company. Pencarrow has secured a mix of existing shares and new shares through a significant investment, the terms of which were not disclosed. The new funds will allow ARANZ Geo to accelerate their global expansion and product plans, building on their past strong growth, and fund strategic acquisition opportunities.

ARANZ Geo has built a global reputation in the mining industry in particular as the developers of 3D geological modelling software Leapfrog® which is sold to over 50 countries. Recently ARANZ Geo acquired Australian based consultancy QG, a fully integrated geological, geometallurgical and mine planning consultancy to sit alongside their well established Leapfrog brand.

“2014 is going to be a big year for us,” said Shaun Maloney, CEO of ARANZ. “We’re very pleased to have Pencarrow as a cornerstone investor as we go after growth opportunities and cement our market leader position. We’re very well placed to leverage international markets and we’ll also consider further acquisitions to broaden our geosciences offering. The new funds will also allow us to build our team more rapidly to support this vision, particularly at an executive level.”

Nigel Bingham, Executive Director of Pencarrow Private Equity said, “ARANZ Geo has achieved great success to date, with a proven business model and profitable track record, by offering its customers products and solutions that give them a clear and sustainable competitive advantage. We’re excited to back their global expansion plans.”

Andrew Simmonds, Chairman of ARANZ Geo said, “It was important to the company that we sought a New Zealand investor who shared our vision, goals and company ethos, so we are delighted to be working with Pencarrow.”

ARANZ Geo’s R&D and head office is based in Christchurch and sales and support offices are located in Australia, Chile, Brazil, Denmark and Canada, with distributors in South Africa, Colombia and Mexico. For more on ARANZ Geo seehttp://www.aranzgeo.com

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news