Mercury Capital has completed the acquisition of a 25% shareholding in Forsyth Barr Group following approval for the deal by the company’s shareholders.
The transaction, announced in July, was subject to approval by Forsyth Barr shareholders and to other conditions as well as acceptance of a partial offer to existing shareholders.
Mercury Capital is a highly successful private equity firm managing more than $1 billion in funds. Founded in 2010, it specialises in providing growth capital to well-established businesses across Australia and New Zealand. The Sydney-based firm has strong New Zealand connections, with its founder and CEO Clark Perkins and around half of its staff being New Zealanders.
Forsyth Barr was founded in Dunedin in 1936 and has a long-standing tradition of staff ownership. The firm remains majority owned by over 300 staff members alongside Mercury Capital. The shareholding position is viewed by the Board of Forsyth Barr as a natural next step in the company’s ongoing evolution.
Forsyth Barr’s Managing Director Neil Paviour-Smith said, “We are delighted to welcome Mercury Capital as a shareholder and two of their senior principals to our Board. Their expertise and experience will complement the capabilities we have built over many decades and support our significant ambitions for the future. In all other respects it is business as usual for the firm.”
Please click below to watch a short video discussing this important development.
