| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 15 October 2019 |
| Pathway | Significant Business Assets |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the business and assets of Cin7 Limited, and its subsidiaries, the consideration for which exceeds $100m. |
| Consideration | $133,330,000 |
| Applicant | Cin7 Americas, Inc. and Quad NZ Limited which are wholly owned subsidiaries of Rubicon Technology Partners II L.P. |
| Vendor | Cin7 Limited Danny Ing, New Zealand (40.25%) Datum Connect Trustee Limited, New Zealand (25.73%) Sol Solis Trust, New Zealand (8.53%) David Ing, New Zealand (5.29%) New Zealand Public (20.20%) |
| Background | The Applicants are wholly owned subsidiaries of Rubicon Technology Partners II L.P. (the Fund), a private equity fund specialising in enterprise software companies to help grow and scale their businesses. The Fund is managed by Rubicon Technology Partners. The Investment involves the Fund acquiring Cin7 Limited’s business and assets in New Zealand, as well as its subsidiaries in Australia, the United Kingdom and the United States. Cin7 is a New Zealand founded company whose business involves designing, developing, marketing and maintaining enterprise resource planning, inventory management, point of sale, and related supply chain software. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Joshua Pringle Chapman Tripp PO Box 2206 AUCKLAND 1140 |