| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 20 February 2026 |
| Pathway | Significant business assets only |
| Investment | Acquisition of up to 100% of the shares in Whip Around (NZ) Limited and up to 100% of the shares in Whip Around, Inc. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | DFMS US BidCo, Inc. DFMS NZ BidCo and DFMS TopCo LP United States of America 63% Canada 9% Cayman Islands 8% Various 20% |
| Vendors | Shareholders of Whip Around (NZ) Limited Whip Around (NZ) Limited (for Whip Around Inc) New Zealand 89% United States of America 7% Various 4% |
| Background | The Applicants are subsidiaries of funds managed by Accel‑KKR, a private equity firm that specialises in software and technology services. The Applicants are acquiring 100% of the shares in Whip Around, Inc. and Whip Around (NZ) Limited, whose business is a cloud‑based platform for fleet maintenance and compliance management. Consent was granted as the Applicant has met the investor test criterion. |
| More information | Pavanie Edirisuriya DLA Piper New Zealand 15 Customs Street West Auckland 1010 |