HAMILTON, NEW ZEALAND: The boards of Simcro Ltd and The Riverside Company, the global private equity firm, have today announced that Riverside has acquired a controlling interest in the Hamilton New Zealand-based animal health delivery system company, Simcro.
Simcro was founded in 1993 to service the growing demand from major international pharmaceutical groups for reliable and innovative solutions in the delivery of farm animal drugs. The company was then acquired in 2007 by three Auckland-based investors including the current CEO, Will Rouse, joined by the in-house director of Research and Development, Rod Walker.
Both Will Rouse and Rod Walker are remaining with the company in their roles, and as shareholders.
In the last six years, Simcro has grown its R&D capability four fold, making a significant commitment to the changing demands of animal husbandry and best practice in the treatment of animals, now including innovations in companion animals.
That commitment has also led to Simcro piloting its first drug delivery project in human health and winning a number of prestigious awards, including the Bayer Award for Innovation in 2009, awards from International Forum in 2009 and 2010, locally from New Zealand Trade & Enterprise for Best use of R&D in 2010, and a Good Design™ USA award in 2011.
Joining forces with Riverside, one of the largest and oldest global private equity firms with over US$3.5bn in assets under management, was the right choice of partner for Simcro.
“Riverside shares our vision for the future direction of Simcro as a recognised leader in its market,” said Will Rouse. “Both their global reach and their commitment to this sector has impressed us during the acquisition process, and the unchanged Simcro management team is excited at the opportunities that our marriage represents.”
Rouse also acknowledged the support the company had received since 2007.
“Taking the decision to commit significant resources to product development was one that our board, chaired by John Dennehy, fully supported and encouraged; we also acknowledge the support of NZTE and the Ministry of Science and Innovation in understanding and supporting our goals.”
Further information on Riverside can be found at www.riversidecompany.com