Tauranga-headquartered Oriens Capital Private Equity Fund LP has agreed to an unconditional investment transaction into Hamilton-based IVS Group Holdings (IVS).
The transaction will eventually see the venture fund acquire 70 percent of Webb’s family interests.
Established in 2016, Oriens Capital has committed capital of $50.6 million in Fund 1 and this will be its final investment from Fund 1.
Oriens Capital targets investments in private businesses with enterprise values between $10 and $50 million, providing both expansion (growth) and succession (buyout) capital. Fund 1 has made six investments, into Rockit Global, Bluelab, Retirement Income Group, About Health, Rhino Manufacturing and IVS.
Oriens will partner with IVS Group’s founder, Peter Webb, and his family interests. Webb will remain chief executive officer of the Group, which encompasses Independent Verification Services, IVS Labs and IVS Training.
Following completion, Oriens Capital will own a 70 percent shareholding with Webb interests retaining 30 percent.
“Oriens brings sector relevant relationships, plus capability and capital to support bolt on acquisitions. It is an exciting time for IVS and we look forward to growing the company considerably over the next few years.” – Peter Webb
Oriens said that IVS is extremely well-positioned as an integral partner to New Zealand’s international trade sector. IVS demonstrated excellent resilience during 2020, a challenging year for all, and is well positioned for future growth.
Helping deliver on strategic growth
Webb said that the Oriens capital investment would help the company deliver on its strategic growth opportunities both domestically and internationally.
“Oriens brings sector relevant relationships, plus capability and capital to support bolt on acquisitions,” he said.
“It is an exciting time for IVS and we look forward to growing the company considerably over the next few years.”
IVS Group (IVS) is a multifaceted Hamilton based business that supports and facilitates trade, focused on ensuring New Zealand industry continues to grow and prosper, whilst protecting the New Zealand environment for future generations. Encompassing biosecurity, certification, testing and training, IVS is fully embedded into the regulatory processes and supply chains of New Zealand’s trade sectors.
Oriens Capital chief executive James Beale said that IVS will be the last investment in Oriens’ first fund, and final preparations for the second fund are well underway.