Quadrant Private Equity partners Louis Casey and Marcus Darville said they were thrilled to partner with AS Colour.
“The business has built an exceptional brand in New Zealand and Australia and is now scaling rapidly in the US, UK and Europe,” Casey and Darville said.
“What sets AS Colour apart is the combination of premium product quality, a direct B2B sales model, a highly efficient supply chain and – most importantly – an outstanding team and culture that is genuinely passionate about what they do. We see a significant global runway ahead.”
Quadrant’s stake is being acquired from Direct Capital, the New Zealand-based private equity firm that has backed AS Colour since 2017.
Though not officially announced, the Australian Financial Review in its Street Talk column said it understood Quadrant had acquired a 21% stake, with Direct Capital retaining a 7% stake.
Direct Capital partner Chris Wills said the business was delighted to continue its involvement with AS Colour and was looking forward to working with Quadrant as a like-minded partner.
AS Colour chief executive Clive Ormerod said New Zealand remained the business’ “home and spiritual heart”.
“Partnering with Quadrant gives us additional strategic capability to keep strengthening our brand across Australia and New Zealand, and to accelerate our international expansion in markets such as the US, UK and Europe,” Ormerod said.
“This is a strong endorsement of the team and strategy we have been executing.”
Tom Raynel is a multimedia business journalist for the Herald covering small business, retail and tourism.
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