AMP Henderson Private Capital Puts $10m On Slab
26 February 2001
AMP Henderson Private Capital Puts $10 Million On The Slab
AMP Henderson Private Capital is to invest $10 million (US$ 4.42 million) in sound technology company Slab International, a local company that produces world leading loudspeakers less than half an inch deep.
AMP Henderson Private Capital made its investment jointly with Caltech Capital Partners, as part of their successful joint venture relationship.
Established in 1992 and based in Auckland, Slab International has two divisions, Slab Sound and Slab DSP.
Slab Sound has proprietary technology for thin electrodynamic speakers that produce very high quality sound. Slab DSP makes analogue noise cancellation devices and is currently developing the world’s first digital noise cancellation device.
The investment will be used to purchase the assets of Slab’s Hong Kong based distributor and also to allow the recruitment of further engineering staff.
“With its great technology and strong systems, we believe that Slab is well positioned for growth,” said AMP Henderson Private Capital director, Deepak Gupta.
“The excellent acoustic performance of Slab’s panel speakers will allow the company to tap into markets which values the aesthetics of flat panel speakers but is unwilling to compromise function for form.”
“In addition to this, Slab DSP has developed an analogue noise cancellation device which we believe will be cost efficient enough to enter the economy class airline market. This should allow the airlines to provide an improved travel experience to its customers.”
Slab CEO Chris Lock welcomed the investment.
“Having a major player like AMP Henderson Private Capital invest in Slab is a huge vote of confidence in our technology and our people,” Mr Lock said.
“It’s also a clear signal to the market that we now have the potential to supply our products on a global basis.”
Caltech Capital Partners’ director, Douglas Paul will join the Slab board as part of the investment.
Henderson Private Capital is New Zealand’s largest private
capital investment manager. Caltech Capital Partners is a
specialist New Zealand technology venture capital fund