Kiwi boatbuilder Stabicraft secures investment for global push
KiwiSaver provider Simplicity has acquired a 35.9 per cent stake in New Zealand-based boat manufacturer Stabicraft Marine. It’s the seventh private equity investment in domestic business for investment fund manager Simplicity.
Established in 1987, Invercargill-based Stabicraft specialises in aluminium fishing and adventure vessels. The company has maintained steady growth despite recent challenges, including the pandemic, and says it is now poised to grow its global reach.
Stabicraft founder Paul Adams remains the majority shareholder and director following the deal. He says: “We’re excited to have a New Zealand-owned private equity shareholder like Simplicity onboard to continue the Stabicraft legacy.” The company’s existing management team, led by CEO Aaron Greene, will continue to oversee operations and growth strategy.
Simplicity’s managing director, Sam Stubbs, emphasises the long-term nature of the investment, noting it aligns with the fund’s strategy of supporting successful New Zealand firms with global expansion potential.
“It’s wonderful to be investing in an iconic South Island company. Like Simplicity, the people of Stabicraft live and breathe their brand, which has clearly translated into its success over the years,” says Stubbs.
This acquisition adds to Simplicity’s growing portfolio of private equity investments in New Zealand businesses while providing Stabicraft Marine with capital support for its global expansion plans.
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