Aquaheat positioned for growth under New Zealand owner

03 September 2012

Aquaheat positioned for growth under New Zealand owner

Engineering and contracting business Aquaheat New Zealand Ltd, has been bought back from Australian owners and is now a fully-owned subsidiary of NZX listed Horizon Energy Distribution Limited.

Horizon acquired the heating, ventilation and air-conditioning businesses of Auckland based Hastie New Zealand Ltd, Wellington based Aquaheat Industries Ltd and Christchurch based Professional Building Services on 31 August 2012.

General Manager, Paul De Bernardo, said today that Aquaheat New Zealand Ltd trading from regional bases in Auckland, Waikato/Bay of Plenty, Wellington and Christchurch, was well-positioned to leverage off the strengths of each regional business to provide fully integrated offerings of specialist building and mechanical services for commercial, industrial and infrastructure clients across the country.

“We have a total staff of 220 people with specialist skills in HVAC and mechanical services, medical gas services, plumbing and gasfitting, fire protection and roofing and cladding. Our current workload with major construction companies is strong and while we have a well-recognised and enviable track record in the construction of commercial developments, hospitals and civic facilities, we are looking to grow our relationships with industrial and infrastructure clients, an area where we have not been so active recently.”

In addition to the company’s contracting and maintenance activities, Aquaheat is also the New Zealand licencee for Colt International Ltd, a provider of smoke and fire control systems, natural ventilation, car park ventilation and solar shading. He said the recent development of new products in Europe enables Colt Products and Systems to offer the very best energy efficient and technically advanced solutions to the market.

Another key plank for growth will be the expansion of Aquaheat’s national service and maintenance operations to ensure that Aquaheat’s customers receive the very best support and service available for their assets and facilities.

Mr De Bernardo said the capabilities of the company based around 60 years in the industry, were a good fit with the aims and objectives of Horizon Energy.

Horizon CEO, Ajay Anand, said “Horizon was looking for a capacity to build a nation-wide contracting and service business operating out of the major growth centres in the country. Now we have a regional presence in Auckland, Waikato/Bay of Plenty, Wellington and Christchurch so with a strong order book and a strategic plan for expansion across the country our opportunity to grow the business is considerable.”

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