Receivers Brendon Gibson, Grant Graham and Neale Jackson of Calibre Partners issued a statement that an agreement for the sale of Claymark in New Zealand was going ahead. The agreement is unconditional, and settlement is expected on 30 September. Source: Timberbiz
That means that the 450 employees may have a future; the staff is located in Thames, Katikati and Rotorua plus the company also uses contractors and services across the Bay of Plenty. The company was sold as a ‘going concern’ which means that it is expected to operate for another 12 months with no threat of liquidation or closure.
The buyout was by a consortium led by Paul Pedersen, but little is known about the buyers at the moment.
According to sources in New Zealand documents show the renamed company Claymark General Partner Ltd was set up in July with Mr Pedersen and Peter Bridges named as 66% shareholders. A US company Shelter Forest International Acquisitions holds 24% and 10% is held by Auckland company MNF Family Office Ltd.
NZ Future Forests Products Ltd (NZFFP) had entered an agreement to acquire the Claymark Group including all the operations in New Zealand and the United States in September last year but the sale fell through.
