Decision number200520046
Application number200520062
Date6 September 2005
Offeror/applicantArcher Capital Pty Limited as manager for the Archer Capital Fund 3
Ultimate applicant beneficial ownership75.78 percent - Australia, Australian Public
11.65 percent - United States of America, United States Public
10 percent - New Zealand, New Zealand Public
2.57 percent - United Kingdom, United Kingdom Public
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed90 percent
- Share current0 percent
- Share proposed90 percent
Offeree(s)/seller(s)Hanover Group Limited, 100 percent - New Zealand
Business activitiesProperty & Business Services - Business
Details of land involvedNone
Regions involvedVarious
Total considerationCONFIDENTIAL
Consent Sought - 1995 Regs

To acquire property being business and assets from Leasing Solutions Limited.

To acquire up to 100 percent of the specified securities of and/or having the right to exercise or control the exercise of the voting power of and/or appoint or control the appointment of the board of directors of Onesource Group Limited.


The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the Applicant has business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the persons who exercise control over the Applicant are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.

Archer Capital Pty Limited (Archer) in its capacity as manager of private equity funds raised by the Archer Capital Group has incorporated a special purpose investment vehicle, Copier Holdings N.Z. Limited (Copier). Copier proposes to acquire all of the issued capital of Onesource Group Limited (OSGL).

OSGL and its subsidiaries Konica Minolta Business Solutions New Zealand Limited (KMBS), Cogent Communications Limited (CCL), and Onesource Finance Limited, form a technology group whose principal business is document management and telecommunications solutions.

The OSGL transaction is conditional upon Archer or another company controlled by Archer, entering into a separate agreement with Leasing Solutions Limited (LSL) to purchase the assets owned by LSL in connection with the business of providing leasing and financing facilities to customers of KMBS, CCL and other specified parties. Archer is incorporating a company, Office Equipment Finance Limited (OEFL) to acquire the assets owned by LSL. OSGL and LSL are indirectly wholly owned by Hanover Group Limited, New Zealand's largest privately owned group of finance companies. The proposed acquisition of OGSL and the assets from LSL fit Archer's investment criteria.

ContactJames Gibson/Karla Ritchie
Bell Gully
P O Box 4199