Simplicity Private Equity Buys Stake In Stabicraft
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- Simplicity Private Equity Fund acquired a 35.9% stake in Stabicraft Marine.
- Stabicraft plans international growth following pandemic challenges with strong dealer and supply networks.
- Founder Paul Adams remains majority shareholder and supports future growth with equity backing.
Simplicity Private Equity Fund has acquired a 35.9% stake in Stabicraft Marine, one of New Zealand’s leading boat manufacturers. Based in Invercargill, Stabicraft is known for producing high-quality fishing and adventure boats that have earned a strong reputation across the country.
The acquisition is the seventh investment by Simplicity’s Private Equity Fund, which focuses on successful privately-owned New Zealand businesses. Stabicraft was founded in 1987 and has grown to become a household name, representing Kiwi craftsmanship and innovation in marine engineering.
Founder and major shareholder Paul Adams shared his enthusiasm about the new partnership, saying, “We’re excited to have a New Zealand owned private equity shareholder like Simplicity onboard to continue the Stabicraft legacy. We’re really looking forward to building on our success.”
Simplicity’s Managing Director, Sam Stubbs, expressed optimism about the investment. “We’re delighted to make this investment, which is focused on generating long-term returns for our members, while providing equity capital to help Stabicraft expand internationally,” he said. “Like Simplicity, the people of Stabicraft live and breathe their brand, which has clearly translated into its success over the years. It’s wonderful to be investing in an iconic South Island company.”
Stabicraft’s CEO, Aaron Greene, highlighted the company’s readiness for international growth. “We have long established relationships within our growing dealer network, a solid supply chain and most importantly, passionate staff dedicated to producing innovative designs for our loyal customers,” he stated.
After navigating the challenges of the COVID-19 pandemic, Stabicraft is now focused on expanding its global presence, with the new equity investment providing a strong foundation for its ambitious plans.