The largest 100% New Zealand owned dairy technology innovator, Waikato Milking Systems, has a new ownership structure that positions the company well for ongoing product development and international growth.
The new ownership structure will see the company continuing its specialist focus on milking systems and dairy technology innovations for dairy farming businesses, while growing its presence in New Zealand and internationally.
Majority shareholder UPC Capital and Waikato Milking Systems Managing Director John Anderson have sold the company to three institutional investors and members of the company’s senior management team. The three institutional investors are Tainui Group Holdings, Ngāi Tahu Capital and Pioneer Capital in equal shares. The unconditional agreement has a settlement date of 31 March 2014.
The company remains 100% New Zealand owned, a factor that is valued by many customers given this country’s reputation for dairy sector expertise and product innovation. Waikato Milking Systems will continue to operate as an independent designer, manufacturer and supplier of dairy technology to the New Zealand market and more than 30 dairy producing countries.
Waikato Milking Systems says it is looking forward to building on the success already achieved. “We’ve had a great run so far and our new shareholders will provide us with an excellent platform for the next chapter of growth. We look forward to continuing to develop product innovations that bring a range of benefits to dairy farming businesses, including greater efficiencies,” the company says.
Tainui Group Holdings, Ngāi Tahu Holdings Corporation and Pioneer Capital say they intend their investment to help build on the significant growth achieved by Waikato Milking Systems, and are committed to the dairy sector and the use of innovative products and technology.