Liquid gold flowing for Kiwi high-tech firm

CHRIS GORMAN/Sunday Star-Times

LIQUID GOLD: Kiwi ingenuity as seen a company run from its owner's basement sail off with two international awards for the work it does on some of the world's most luxurious super yachts. The boat has truly come in for Bruce Cox, left, and Stephan Goodhue, of AV and IT company Liquid Automation.

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Kiw ingenuity has seen a company run from its owner's basement sail off with two international awards for the work it does on some of the world's most luxurious super yachts.

Liquid Automation installs top of the line entertainment and computerised communication and control equipment in some of the world's biggest pleasure craft. Their most recent job was a fit-out of Red Dragon, a 52m-sloop built for an unnamed overseas buyer by Auckland-based Alloy Yachts.

A buyer might spend $50 million on their floating toy, says Liquid Automation co- founder Stephan Goodhue.

So a typical fit-out of audio visual (AV) and information technology (IT) equipment by Liquid Automation could cost anything from $500,000 to $1.5m.

For that sort of money the super rich get much more than just a few big screen TVs and the latest sound system.

The trend is for onboard entertainment, communications, lighting and security systems to be integrated and controlled through linked computer systems.

If you entered the owner's cabin on one of these craft you would probably see a large mirror on one wall. Press a button and the mirror would light up to reveal a high definition TV screen from which the owner could view the latest movies beamed in by satellite, monitor the radar screen, check out the view from any of the onboard closed circuit TV cameras and operate the boat's communications and lighting systems.

Liquid Automation's expertise in setting up such systems was recognised last month when the Custom Electronic Design and Installation Association (CEDIA), the international body which sets the international industry standards for such work, awarded Liquid two trophies including the Best Commercial Project Award for its work on Red Dragon.

The awards also mark a turning point for the company as Goodhue and Liquid's co- founder Bruce Cox prepare to shift the business from the cramped basement office under Goodhue's house to new commercial premises they are negotiating to buy.

The pair set up the business with just $4000 between them in 2004.

Goodhue is an electronics engineer whose love of sailing saw him get a series of jobs as resident AV/IT engineer on several of the world's largest super yachts, including a three- year stint on the 62m gin palace of Microsoft co-founder Paul Allen.

Cox trained as an electronics technician with the navy and went on to work for a company specialising in navigation systems.

They now employ six staff to help them, so the planned move to new offices will be a big relief.

They are also setting up two new subsidiaries, one to specialise in installing integrated IT and AV systems in upmarket homes and the other to undertake similar projects for commercial premises.

Unlike many small to medium-size owner- operated businesses, Liquid has never suffered from a shortage of working capital, Goodhue said.

This was because they typically charged an upfront fee of around 40% of the total cost when they took on a job, allowing them to buy the necessary equipment and get started. Then progress payments were made as work was completed, so each project was self-funding.

The pair have fielded offers from several business people keen to invest, but so far they have all been turned down because the money wasn't needed.

And with enough orders on their books to keep them busy until the middle of next year, this may be one of the few businesses which is proving truly recession-proof.

- © Fairfax NZ News