THE Inner Range/CSD Group has announced that a 50 per cent shareholding of the business has been acquired by a coalition of 3 senior management staff and New Zealand electronic security distributor, Atlas Gentech.
Industry stalwart and Inner Range MD, Vin Lopes, says he has been looking to cement plans for the future of both businesses after the recent retirement of his partner and co-founder Doug Frazer.
“I’m looking forward to working with the exciting new blend of business experience and high-tech youthful energy that is now around the board room table,” said Lopes. “With this new adrenalin burst, all companies in the Group are well placed to continue the stellar growth they’ve enjoyed in recent years. We are confident we will be a driving force within the security industry for some time to come.”
The re-structured Trans-Tasman Group already operates with almost zero debt and has significant cash reserves, with more than 200 employees and combined revenues exceeding $A100 million dollars. Inner Range has a substantial technology development facility in Melbourne and a European sales office in the UK supporting its new Integriti product suite into countries all around the world. Atlas Gentech is a New Zealand-based security distributor that has a virtually identical product portfolio to that of CSD in Australia.
A spokesperson for the group says that a CSD branch will commence operation in the ACT early next year and reports the company is looking for acquisitions to expand the Group’s activities in its core areas of technology development and distribution.
