DecisionConsent granted
Section 13(1)(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date15 October 2019
PathwaySignificant Business Assets
InvestmentAn 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
ApplicantCin7 Americas, Inc. and Quad NZ Limited which are wholly owned subsidiaries of Rubicon Technology Partners II L.P.
VendorCin7 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 informationJoshua Pringle
Chapman Tripp
PO Box 2206
AUCKLAND 1140