Peter Maire continues re-investment in NZ Tech Companies -
Peter Maire intends to boost his investments into several of New Zealand's
growing high-tech companies through his investment vehicle, Tahia
Investments.
Today Mr Maire sold a portion of Tahia's holding in NZX listed Rakon Limited
(NZX:RAK) to increase Tahia's pool of funds to make these additional
investments.
He said Rakon continues to be a star performer for Tahia.
"It is a true global technology business, based out of New Zealand, with
more than 800 people world-wide, and a world leader in quartz crystal
components for timing reference and frequency control applications, such as
global positioning systems (GPS) and wireless communications".
Peter Maire said it was an extremely reluctant sale, but in the current New
Zealand market situation, with a non-existent private equity market, he saw
no other option.
One of the investments Maire is making is to increase his stake in Fusion
Electronics Limited, which will see him take a majority interest.
Fusion is an Auckland based global consumer electronics brand that has
achieved rapid global expansion in the last year. The company will use the
investment capital to fund the rollout of new product lines as well as
further expansion into new territories.
Maire has been driving the addition of new products, markets and people
drawing on the same experiences and resources built up during equivalent
growth periods at Navman.
"Recession was the best time of growth for us at Navman. Global retailers
want new and innovative products on the shelves to keep drawing in consumers
but in recession the large, blue chip brands tend to slow down", said Maire.
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