Invest South invests in leading tech company
Invest South today announced an investment in BISON Group Limited, a Dunedin-based company developing new industrial weighing technology that improves how weight data is captured, used and communicated.
The investment by the Southland based private equity fund will support the company’s strategy to grow its business internationally, producing a unique portfolio of weighing solutions for the international shipping industry.
BISON is responding to a new global compliance market arising from new international maritime laws requiring certified weighing of export containers. International demand for BISON’s products has resulted in sales in over 20 countries and other unsolicited enquiries from over 100 countries.
Peter Carnahan, Chairman of Invest South, said that the investment firm was impressed by both the innovative product lines being developed by the company in response to customer demands, and the quality of the people involved in the business and their track record for creating and commercialising innovative technology.
“Invest South invests in dynamic companies in the southern region seeking capital for growth, partnering proven management teams to increase and ultimately realise value. We were particularly interested in BISON because of its positioning in the industrial weighing and shipping industry amidst a significant change in the global regulatory environment. While this company could be considered at an earlier stage than we would normally invest, we saw the potential in the people and the global opportunities”.
Greg Fahey, CEO and co-founder of BISON Group Limited, welcomed the investment by Invest South and other investors.
“This new capital allows us to build on our rapid growth over the last 12 months. The fund’s experience and networks have already proven useful for supporting our strategy and we look forward to their support of our business and growth plans.”
The investment is for an undisclosed sum.
About BISON Group Limited
Established in New Zealand in 2014, BISON Group Limited is a fast-growing tech company offering a unique portfolio of weighing solutions to the international shipping industry.
The firm was formed specifically to capitalise on the significant market opportunity presented by the-then pending verified gross mass (VGM) regulations for packed export containers. The VGM regulations were formally introduced on July 1, 2016.
BISON’s revolutionary C-Jacks and C-Legs hardware, combined with a tailor-made smart phone App to capture and communicate the VGM information, have quickly propelled BISON onto the world stage.
Strong sales growth is forecast among BISON’s key customer categories, which include exporters, freight-forwarders, military and project cargo operators.
BISON markets and sells its scales directly and via a global network of dealers
BISON’s vision is to become the leading global provider of portable solutions for weighing and lifting containers.
About Invest South
Invest South is a Southland based private equity fund which invests in dynamic companies looking for capital and expertise to fund expansion and growth. Its focus is on partnering with management teams to increase and realise the value of a business. With deep regional experience and networks, it is well equipped to support and partner regional businesses across a range of industries. The fund’s sole investor is the Community Trust of Southland.
Posted: 20 April 2017