Summit Capital Acquires Trethewey Granite And Marble
Summit Capital Limited has purchased Trethewey Granite and Marble, a leading supplier of premium natural and engineered
stone products for both commercial and domestic applications.
Summit Capital, which forms part of the Summit Financial Group, provides financial and executive capital to small and
medium-sized business and provides private equity and mezzanine debt investment opportunities to a group of investors.
Its portfolio of investments includes Certus Solutions, Radius Health Group, Perfectus, Infotrust Global and Lexicon
Systems Limited.
Summit Capital chairman, Murray Davies, says Trethewey Granite and Marble presents an excellent opportunity for Summit
Capital because of its strong brand, good reputation, high quality products, technical expertise and nationwide
coverage.
“This is a prime example of a market-leading business which has seen consistent growth over the last 20 years and has
the potential for significant future growth,” he says.
Trethewey Granite and Marble was formed in 1985 by Bruce Trethewey, whose family has an 80-year history of supplying
dimensioned stone to the New Zealand market.
“Trethewey Granite and Marble helped pioneer a resurgence of interest in the use of granites and marbles. Some of the
commercial and refurbishment contracts the company has secured include Auckland’s Aotea Centre, the National Bank Twin
Towers, the PricewaterhouseCoopers centre, Sky City and the Beehive in Wellington,” he says.
Mr Davies says Trethewey Granite and Marble has over 60 employees, including fully qualified tradespeople, specialist
machine operators, apprentices and highly trained stonemasons in its Auckland headquarters and branches in Wellington
and Tauranga. There will be no redundancies as a result of the sale and business will continue as usual.
The new company will continue to be known as Trethewey Granite and Marble Ltd and will be headed in the interim by Shane
Warbrick as CEO and Murray Davies as chairman of the board. Previous managing director Bruce Trethewey will support the
new management team in areas such as supplier and commercial relationships, technical support and special projects.
“We are fortunate to have Bruce’s extensive knowledge and industry experience to help smooth the transition,” says Mr
Davies.
He says Summit Capital’s first priorities will include developing the business to become more customer centric, further
defining its key markets and developing strategies to support competitive advantage as well as developing and executing
a strategy to support the ongoing growth of the business.
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