Led by Greg Young and Mark Smitheram, Three Sixty Capital Partners were advisors to the owners of Smits for this divestment transaction. Working with Hayes Knight (Accountants) and Hesketh Henry (Legal) the transaction was completed on-time during a difficult year with Covid. Both vendor and purchaser are extremely happy with the outcome.
Smits Group of Companies announces sale to private buyers.
Smits Group of Companies, incorporating all subsidiaries and Smits Group Pty advises its valued Customers and Suppliers that it has entered into a transaction which will see the company transfer ownership, effective 1 Mar 2021.
Owners Lyndsay and Darlene Smits are very pleased to be able to make this announcement and are delighted that the new private owners, from a combination of manufacturing, import distribution and finance backgrounds, will become part of the management team and work in the business as employees and contributors to the day to day operations. As such the management and resources of Smits Group will be expanded and strengthened and that has very much been part of this decision. Darlene will remain with the company as Group General Manager, with Lyndsay being retained by the business ongoing as an executive consultant.
The Company will continue to operate with its current national multi-site footprint. Smits Group products and services remain the same, all terms and conditions remain the same and all interactions with the company and its experienced team remain the same.
Smits Group has built its business on a reputation for market leadership and Integrity, for product quality and for enduring customer service and this will not change.
It is very much “Business as Usual”, with this transaction being viewed as a partnership and as a transition for Lyndsay and Darlene as they mentor the incoming Shareholders.
We thank you for your ongoing support. Your business is incredibly important to us, as is your feedback, and we look forward to working with you long into the future
From Lyndsay and Darlene Smits and the expanded team at Smits Group.
Smits Group – “Trusted to deliver the best in Automotive consumables from around the world”
The Smits Group of Companies
GPI AUTOMOTIVE (NZ) LTD – GPI was established in 1990 as importers and wholesale merchants of automotive refinishing consumables and retail aftermarket vehicle consumable products. Key products include Meguiars Car Care, Rislone Engine Additives and Roberlo refinish products.
LJ SMITS LTD – LJS was established in 1979 and is now the largest automotive refinish distributor in NZ. It is the sole distributor for Spies Hecker, one of the world’s largest refinishing brands. This entity also houses an award winning training centre, a purpose built facility dedicated to the advancement of auto refinishing skills for its client base, including full paint preparation, mixing and spray booth facilities, complemented by a lecture theatre.
INDUSTRIAL PAINT SOLUTIONS – IPS was established in 2004 to specialise in the supply of the latest
in European paint technology and related consumable products to the general Industrial and commercial fleet paint markets. Its major agency, the Lechler brand of products, was established in Germany in 1858 and has always been a leading manufacturer in the international market for paint systems for industrial applications.
SPRAYSTORE CHRISTCHURCH LTD – The largest supplier to the automotive refinish industry in the South Island operating from Timaru to Nelson and acquired in April 2012 by the Smits Group.
COATING SUPPLIES INVERCARGILL – A local market leader and supplying the auto refinish industry in Southland and Otago.
SMITS GROUP (PTY) LTD – Smits Group was established in 2014 to support quality brands to the Australian automotive market such as Rislone Engine Additives and cooling solutions and SAS PPE equipment.
For more information, please contact: Greg Young, at greg.young@360capital.co.nz, +64 21 775 388