Wellington investor buys stake in Christchurch geological company

Press Release – ARANZ
ARANZ Geo Limited, a world leader in the visualisation and interpretation of geological sciences for the mining, hydrogeology and geothermal industries, today announced that Wellington-based Pencarrow Private Equity has taken an equity stake in the Christchurch company.

Pencarrow has secured a mix of existing shares and new shares through a significant investment, the terms of which were not disclosed. The new funds will allow ARANZ Geo to accelerate their global expansion and product plans, building on their past strong growth, and fund strategic acquisition opportunities.

ARANZ Geo has built a global reputation in the mining industry in particular as the developers of 3D geological modelling software Leapfrog® which is sold to over 50 countries. Recently ARANZ Geo acquired Australian based consultancy QG, a fully integrated geological, geometallurgical and mine planning consultancy to sit alongside their well established Leapfrog brand.

“2014 is going to be a big year for us,” said Shaun Maloney, CEO of ARANZ. “We’re very pleased to have Pencarrow as a cornerstone investor as we go after growth opportunities and cement our market leader position. We’re very well placed to leverage international markets and we’ll also consider further acquisitions to broaden our geosciences offering. The new funds will also allow us to build our team more rapidly to support this vision, particularly at an executive level.”

Nigel Bingham, Executive Director of Pencarrow Private Equity said, “ARANZ Geo has achieved great success to date, with a proven business model and profitable track record, by offering its customers products and solutions that give them a clear and sustainable competitive advantage. We’re excited to back their global expansion plans.”

Andrew Simmonds, Chairman of ARANZ Geo said, “It was important to the company that we sought a New Zealand investor who shared our vision, goals and company ethos, so we are delighted to be working with Pencarrow.”

ARANZ Geo’s R&D and head office is based in Christchurch and sales and support offices are located in Australia, Chile, Brazil, Denmark and Canada, with distributors in South Africa, Colombia and Mexico. For more on ARANZ Geo seehttp://www.aranzgeo.com

Content Sourced from scoop.co.nz
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