Family-owned local investment company TPT Group has made their twelfth acquisition in New Zealand, with nationwide data
communications business, Cablenet, set to join the TPT Group.
Cablenet is one of the largest ICT infrastructure companies in New Zealand and will join other significant technology
related businesses in the Advanced Group which includes Advanced Security, IT Engine and ASG Technologies.
CEO Mike Marr says TPT Group is built on a passion for growing a great group of businesses in a way that heroes and
harnesses Kiwi talent and innovation.
“This new acquisition is a strategic move that means we can converge our businesses and utilise Cablenet’s capabilities
for the benefit of all the New Zealand companies in our group. This represents a significant opportunity and a chance to
embrace further growth and innovation,” he says.
“As a New Zealand owned company, we are thrilled to acquire Kiwi businesses that represent the very best of local
expertise and ingenuity. We are committed to investing in our business and developing our market capability, while
supporting and growing New Zealand businesses that share our family values.
“In recent times we’ve seen many foreign companies acquire New Zealand businesses, so we are delighted to ensure that
Cablenet will stay in New Zealand hands where it can make a significant contribution to the New Zealand economy.
“Cablenet has been heavily involved in some of the largest communications and network infrastructure projects in New
Zealand. Their senior management team remains committed to the belief that the ongoing success of the company is a
direct result of the professionalism of the staff and the quality of service the company provides – a sentiment that we
at TPT Group wholeheartedly agree with.”
Former Cablenet owner Terry Powell says the business has developed a proven ability to complete all types of ICT
projects, from time critical nationwide technical rollouts to large scale data, wireless and electrical contracts
throughout Aotearoa.
“This is an exciting chapter for Cablenet, and we are extremely excited to be joining TPT Group. Our biggest strength is
our people, and this acquisition gives a clear pathway forward while maintaining our family values to staff and
clients.”
Through Advanced Group, TPT Group is developing a converged business, providing services and solutions in electronic
security, information technology, exponential technologies and now data communications. TPT Group has grown since its
launch in 1999 through a combination of organic growth and acquisitions, and this continues to apply today.
Cablenet will also be opening a new office in Palmerston North in early 2022 as it prepares for further growth.
Marr says the TPT Group is on a recruitment drive with a number of new roles being advertised. He has also indicated
they will be making further acquisition announcements in early 2022.