Simcro sells to Riverside

Last updated 12:19 12/07/2013

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Waikato agritech company Simcro has sold a controlling interest for an undisclosed sum to global private equity firm The Riverside Company.

Hamilton-based Simcro, which celebrates 20 years in business this year, is an animal health delivery system company.

It employs about 80 staff to service international pharmaceutical groups for technology in farm animal drug delivery.

In last year's TIN100 Report, which measures the performance of New Zealand's top hi-tech export companies, Simcro ranked as the 75th most successful on revenue.

The company does not disclose its financial statements, but the TIN100 report estimated its annual revenue at $21.4 million.

The Riverside Company has over US$3.5 billion (NZ$4.5b) in assets, with investments in more than 75 companies.

Simcro chief executive Will Rouse and research and development director Rod Walker will retain their roles with the company and remain shareholders.

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