Acquisitions in New Zealand

Industrial Scientific Corporation, a division of Fortive Corporation, has acquired Aeroqual. The deal adds Aeroqual’s real-time environmental and air-quality monitoring hardware and software to Industrial Scientific’s worker safety sensing technology portfolio.

Towne Park acquired New Zealand-based Frogparking, a provider of advanced, integrated parking management systems and related technology. The deal combines Frogparking’s cloud-based parking platform and sensor/analytics capabilities with Towne Park’s scale in tech-enabled parking, mobility, and hospitality solutions to expand offerings and support growth.

CasinoRIX, a provider of online casino review and comparison services, has acquired Innovate Change, a New Zealand-based platform known for independent reviews of real-money casinos. The deal gives CasinoRIX a direct presence in New Zealand and supports its broader international growth strategy, with Innovate Change’s editorial and operations teams expected to be retained and integrated into CasinoRIX’s systems.

Karbon, a practice management software provider for accounting, bookkeeping, tax and audit firms, has acquired Aider, an AI-powered advisory and reporting technology company. The deal deepens an existing integration between the two platforms and will embed AI-enabled period close, management reporting, and advisory dashboards into Karbon to automate bookkeeping/advisory workflows and deliver real-time client insights.

Gentell and Affiliated Companies acquired ManukaMed, a New Zealand-headquartered manufacturer of honey-based wound dressings. As part of the deal, Gentell also acquires ManukaMed’s U.S. headquarters in Franklin, Tennessee and its warehouse/distribution center in Kansas City, Missouri, and plans to rebrand the business as Gentell ManukaMed. The acquisition expands Gentell’s global wound care manufacturing and distribution footprint and adds a Medicare-reimbursable honey-based wound care product to its portfolio.

WebPros announced the acquisition of Comet Backup, a provider of backup and storage software for managed service providers (MSPs) and IT teams. The deal expands WebPros’ web enablement ecosystem by adding data protection, backup, and disaster recovery capabilities. Comet Backup is headquartered in Christchurch, New Zealand.

BlueMatrix, a capital markets content authoring and distribution platform backed by Thoma Bravo, announced its strategic acquisition of RANOS, a next-generation research publishing platform founded in New Zealand. The deal is intended to accelerate product innovation and strengthen BlueMatrix’s footprint across the Asia-Pacific region while continuing RANOS’ platform operations without disruption.

HEALWELL AI Inc. acquired Orion Health in a deal described as transformative, significantly expanding HEALWELL’s global reach and strengthening its presence in the public sector. Orion Health’s platform supports over 150 million patient lives across 11 countries, providing HEALWELL with large enterprise customers, recurring revenues, and a broader distribution channel for its AI products.

HEALWELL AI Inc. closed its acquisition of Orion Health Holdings Limited for approximately NZ$175 million (subject to adjustments) on April 1, 2025. Concurrent with the closing, WELL Health Technologies Corp. exercised its call option to acquire shares and multiple voting shares from HEALWELL’s founding shareholders, increasing WELL’s ownership to roughly 37% economic interest and ~69% of voting rights in HEALWELL.

Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based RMA General Limited and its associated insurance broking businesses. RMA provides commercial and personal insurance products along with tailored life and health solutions to clients across New Zealand. Financial terms of the transaction were not disclosed.

Banyan Software has acquired 100% of the shares of Medtech Global, a health technology provider serving Australia and New Zealand. Medtech Global was previously owned by Advent Partners and Geoffrey Sayer, who will remain CEO following the transaction.

Mews, a hospitality cloud platform company, has acquired Clarity Hospitality Software Solutions to expand its operations and customer base across APAC and the United Kingdom. Clarity, founded in New Zealand in 1992 and later expanded to the UK, provides property and event management systems for hotels and event venues.

TA Associates signed a conditional agreement to make a strategic investment in Craigs Investment Partners, a leading New Zealand wealth management firm. Following the investment, Craigs’ existing employee and director shareholders will retain 50% ownership, with the transaction expected to settle in late Q1 2025 subject to regulatory and shareholder approvals.

Australian tour management software company ResPax has acquired ResBook, a New Zealand accommodation booking engine and tourism software provider, effective 1 November 2024. The deal includes ResBook’s property management system, tourism-themed websites, booking engine, and its Audience membership platform, creating a combined solution for both accommodation and tour operators across Asia Pacific.

DATA Communications Management Corp. (DCM) acquired 100% of the shares of Zavy Limited in an all-cash transaction. Zavy is a New Zealand-based SaaS marketing technology company focused on social media analytics and social listening, and the deal expands DCM’s marketing technology offerings while supporting Zavy’s entry into the North American market via DCM’s customer base and sales team.

Livingbridge exited its investment in Habit Health as the company received new investment from Five V Capital. Habit Health is a New Zealand provider of integrated rehabilitation and mental health services; Livingbridge originally invested in 2018 and supported the business through growth and acquisitions before the sale.

Carlyle and amicaa agreed to provide a NZ$140 million debt financing package to support a management buyout of New Zealand independent fuel retailer NPD. The bilateral loan will enable CEO and shareholder Barry Sheridan to acquire 100% of NPD, refinancing existing debt and funding growth and transaction expenses.

Evergreen Services Group announced the acquisition of Lancom Technology, a managed services provider headquartered in Auckland, New Zealand with a presence in Australia. The deal marks Evergreen’s first expansion into the Australia and New Zealand MSP market and is intended to support Lancom’s continued growth in cloud, software development, managed services, and business process automation.

Fortress Technology acquired Dynamic Inspection, an in-line food grade metal detector manufacturer headquartered in New Zealand, to establish Fortress’ fourth global manufacturing site. The deal formalizes a long-standing relationship between the companies and is intended to expand local manufacturing capacity and strengthen food safety service and support continuity as Dynamic’s founders retire.

Moa Capital has invested in Wet & Forget, a global home improvement and household cleaning products company founded in New Zealand. The investment was made alongside Direct Capital, with Westpac providing senior debt financing to support the acquisition.

Quadrant Private Equity, through its $530 million second growth fund, invested in three New Zealand cybersecurity services firms: Quantum Security Services, ZX Security and Helix Security Services. The trio provides governance, risk and compliance, penetration testing, cloud security and cyber strategy advisory services to enterprise and government customers.

The Boundary, a London-based visualization and CGI studio backed by private equity firm Mobeus, acquired Auckland-based Buildmedia. The deal combines The Boundary’s photorealistic CGI and immersive marketing capabilities with Buildmedia’s city-scale digital twin and Unreal Engine-based interactive technology to expand offerings across real estate, eCommerce, and metaverse/web3 applications.

ADAMA Ltd. announced it has acquired AgriNova New Zealand Ltd., known as Grochem New Zealand, a developer, manufacturer, and seller of crop protection products, plant growth regulators, biosolutions, and plant nutrition products. The deal is intended to strengthen ADAMA’s position in New Zealand and expand its portfolio into complementary biologicals, plant nutrition, and PGR segments, particularly in horticulture.

Jonas Software announced the acquisition of VetlinkPRO, a provider of practice management software for veterinarian practices. VetlinkPRO, founded in 1989 and headquartered in Auckland, will join Jonas Software’s portfolio as its first acquisition in the veterinarian practice management software vertical.

Lineage Logistics, LLC acquired Cold Storage Nelson Limited (CSN), a leading New Zealand cold storage provider. The acquisition expands Lineage’s temperature-controlled warehousing and logistics footprint across New Zealand and strengthens its Asia-Pacific network; financial terms were not disclosed.

New Image Group acquired skincare and cosmetics brand Nutrimetics from Tupperware Brands Corporation for an undisclosed amount. The transaction includes Nutrimetics’ operating entities in Australia, New Zealand, manufacturing operations, and France, as Tupperware divests its beauty business units.

Ampersand Capital Partners made a minority growth equity investment in Syft Technologies Limited, a provider of Selected Ion Flow Tube Mass Spectrometry (SIFT-MS) solutions. The investment is intended to help Syft accelerate progress in the semiconductor market and expand scalable opportunities in life sciences. As part of the transaction, Ampersand partner David Patteson will join Syft’s board.

Investment funds managed by Morgan Stanley Infrastructure Partners (MSIP) have acquired StraitNZ Holdings Limited. StraitNZ operates ferry and logistics services across New Zealand’s Cook Strait, providing essential freight and passenger transportation infrastructure connecting the North and South Islands.

Autodesk announced it has acquired Moxion, a New Zealand-based developer of a cloud platform for secure digital dailies used in film and television production. The deal expands Autodesk’s Media & Entertainment cloud offering upstream from post-production into on-set production workflows and broader production collaboration. The transaction closed during Autodesk’s fourth quarter of fiscal 2022 (ending January 31, 2022).

Garmin Ltd. has acquired Vesper Marine, a privately held provider of AIS, VHF and vessel monitoring solutions for the marine industry. The deal is intended to strengthen Garmin’s marine product lineup, adding Vesper’s Cortex system, smartAIS transponders, and remote vessel monitoring technology. Vesper Marine is headquartered in Auckland, New Zealand; financial terms were not disclosed.

A consortium comprising New Zealand Super Fund, Pioneer Capital and Comprador Holdings acquired a 70% stake in Fertility Associates in late 2021. The remaining 30% continues to be owned by Fertility Associates’ doctors and management team, with the investors supporting expansion in Malaysia and other Asia-Pacific markets.

Volaris Group announced the acquisition of AMS (Advanced Management Systems), an Auckland, New Zealand-based provider of mission-critical workforce management and policy administration software serving healthcare organizations and insurance providers. AMS will continue operating under its own brand while leveraging Volaris resources and best practices as part of the Volaris portfolio.

Springbrook Software, a cloud-based ERP provider for local government agencies and backed by AKKR, has acquired New Zealand-based MAGIQ Software. The deal expands Springbrook’s product capabilities—adding advanced budgeting/planning, reporting, and document management—and extends its global footprint, with the combined companies serving nearly 1,700 public-sector organizations across seven countries.

Waterlogic, a portfolio company of Castik Capital, acquired Merquip, an Auckland-based supplier of hydration solutions across home, office, commercial, and public environments in New Zealand. The acquisition establishes Waterlogic’s first direct presence in New Zealand and supports its ongoing buy-and-build strategy, with Merquip’s David Merrick becoming General Manager of Waterlogic New Zealand.

Traction on Demand (ToD) has acquired Trineo, a New Zealand-based Salesforce implementation and consulting partner. The deal expands ToD’s footprint in Australia and New Zealand and combines the firms’ Salesforce consulting, cloud-native architecture, and digital product development capabilities to support global, around-the-clock delivery.

Growve entered into a partnership with The Organic Skin Co., a New Zealand-based natural and organic skincare and makeup brand. The transaction marks Growve’s first move into natural and organic cosmetics and expands its brand portfolio to 25+ companies as it prepares for U.S. and international expansion.

PDFTron Systems Inc. announced it has acquired Solid Documents, a developer of PDF-to-Office document reconstruction and archiving software and SDKs. The deal strengthens PDFTron’s digital content processing platform by adding Solid Documents’ PDF-to-Word/Excel/PowerPoint conversion capabilities and enterprise SDK technology. Solid Documents is headquartered in Nelson, New Zealand.

Unimarket announced it has received a majority growth investment from Accel-KKR. The investment is intended to accelerate Unimarket’s international expansion, drive product innovation, and support strategic acquisitions, with CEO Peter Kane continuing to lead the company.

Bentley Systems completed its acquisition of Seequent Holdings Limited for approximately $900 million in cash (debt-free, subject to working capital adjustments) plus 3,141,342 Bentley (BSY) Class B shares (about 3.1 million shares). Accel-KKR, which had held a majority interest in Seequent following its 2018 growth equity investment, completed the sale of its stake as part of the transaction.

MRI Software acquired Palace, a New Zealand provider of residential property management software, to expand MRI’s product offering and market presence in New Zealand and the broader ANZ region. Palace, founded in 1999 with offices in Auckland and Wellington, serves 700+ clients managing more than 150,000 properties; the deal gives Palace customers access to MRI’s broader platform, scale, and partner ecosystem.

Ampersand Capital Partners made a minority investment in Magritek, a New Zealand-based supplier of benchtop and portable NMR instruments used in life sciences and other industries. The investment is intended to support Magritek’s growth and expansion of its product applications, including flow chemistry and bioprocess monitoring.

Pegasus, an Accel-KKR portfolio company, acquired iskills, a New Zealand-based competency management specialist and training consultancy. The deal supports Pegasus’ expansion in New Zealand by adding local training, assessment, and competency management capabilities to better serve NZ clients.

Backstage acquired StarNow and The Mandy Network, expanding its online talent marketplace for actors, models, and creative professionals. The transactions were supported by a significant strategic investment from TA Associates, with Backstage senior management also investing alongside TA. Audax Private Debt provided debt financing; financial terms were not disclosed.

Onit, Inc. acquired New Zealand-based McCarthyFinch, gaining its artificial intelligence platform designed to accelerate contract review and approval workflows. The deal supports Onit’s strategy to embed AI into its workflow and legal operations products, including integration into its Precedent AI platform and the release of ReviewAI.

Actionstep, a New Zealand-founded cloud-based legal practice management software provider with a significant U.S. presence, announced an investment from private equity firm Serent Capital. The partnership is intended to support Actionstep’s product, sales, and organizational investments to expand globally and accelerate growth in the United States. The announcement notes this is Actionstep’s first institutional investor and partner.

Volaris Group announced the acquisition of MUSAC Limited, a provider of school and library management solutions for schools in New Zealand. MUSAC will continue operating under its brand and leadership while gaining access to Volaris’ resources and best practices as part of Volaris’ Education vertical.

Asia Pacific Village Group Limited (APVG), an entity owned by EQT Infrastructure IV and managed by EQT Fund Management S.à r.l., entered into a Scheme Implementation Agreement to acquire 100% of Metlifecare via a court-supervised scheme of arrangement. The revised agreement values Metlifecare at approximately NZD 1.3 billion at NZD 6.00 per share (a prior agreement referenced NZD 7.00 per share / ~NZD 1.5 billion) and includes support from Metlifecare’s largest shareholder, New Zealand Superannuation Fund Nominees Limited, which agreed to vote in favor subject to conditions.

Cin7 has agreed to a majority investment from Rubicon Technology Partners, a US-based private equity firm focused on enterprise software. The investment will fund Cin7’s global growth strategy, including product innovation, sales expansion, and continued investment in customer success. The transaction is subject to approval from New Zealand’s Overseas Investment Office.

Funds advised by Apax Partners, alongside certain co-investors, completed the acquisition of 100% of Trade Me Group Limited at NZ$6.45 per share. The transaction valued Trade Me at approximately NZ$2.56 billion and was supported by the company’s board and approved by shareholders.

The Rees Management Ltd (TRML), manager of The Rees Hotel Queenstown in New Zealand, was sold to interests associated with Pioneer Capital together with current TRML board members Mark Rose and Bruce Davidson, effective 12 October 2018. The new owners plan to use The Rees Hotel Queenstown as the centerpiece of a strategy to build a chain of boutique hotels offering an authentic New Zealand experience, while retaining the existing management team and staff.