Pictured above - New owners of ANDAR Holdings, Gary Cross and Brian Kenton, are proud to have brought the firm back to Timaru ownership.
The total assets of ANDAR Holdings NZ have been bought outright by Timaru Engineering firm Wallace & Cooper Ltd. While ANDAR has built an international reputation around development & production of wool scours & machinery, Wallace & Cooper specialise in marine engineering. This powerful combination of the two workshops would create the biggest one in this part of the world, employing about 125 people.
Wallace & Cooper shareholders Brian Kenton and Gary Cross, who is the Company's Managing Director are proud of the deal. "I think this is one hell of an achievement - that a company that was 100% owned by an international corporate has now come back into NZ ownership" Mr Kenton said. Wallace & Cooper is 105 years old, ANDAR is about 64 which brings a world of experience and expertise into play. ANDAR will be a division of Wallace & Cooper Ltd but would continue to operate under the banner of ANDAR Holdings. "For people who want to go there and do business, it's still ANDAR". The sale agreement includes ANDAR's Front Stores which operate in Nelson, Blenheim, Christchurch, Ashburton, Timaru and Oamaru.
The workshops, while separate, will be used to complement each other. Although the companies were being kept separate, there were a lot of similarities that could be used; the knowledge of the staff at both companies was huge, Mr Cross says.
People behind the deal.
ANDAR's new owners share a background in the marine industry. Business man Brian Kenton, has worked for more than 49 years in the fishing industry. Mr Kenton spent 20 years - 4 of them as President - on the executive of the NZ Commercial Fisherman's Federation. In 1989 he became involved in Wallace & Cooper Ltd, which specialises in marine industry engineering, and in 2000 became a shareholder.
Gary Cross trained as a fitter/turner in Bluff before moving to Nelson in 1991 to become a Fleet Manager, managing Japanese fishing vessels in NZ. Mr Cross transferred to set up a new business in Timaru, and in 2001 joined Wallace & Cooper Ltd as a marine and operations Manager. He bought shares in Wallace & Cooper and in 2002 became the firm's Managing Director.