Duncan Bridgeman, NBR: Buying into Scales Corporation [NZX:SCL] paid off handsomely for Direct Capital, which last night won the Private Equity and Venture Capital Association deal of the year award.

The Auckland-based company headed by Ross George more than tripled its investment in Scales in three years, crystalising some of those gains by selling into an IPO in July this year while still keeping a stake in the company.

The New Zealand Private Equity and Venture Capital Association (NZVCA) Leadership Tribute was awarded today (23 October) to Ross George, managing director of Direct Capital, for his outstanding leadership commitment to the New Zealand private equity industry.

The 2014 New Zealand Private Equity and Venture Capital Association (NZVCA) Deal of the Year Award has gone to Direct Capital for its investment in Scales Corporation.

The NZVCA Deal of the Year Award recognises outstanding performance in the private equity industry and was announced at the NZVCA 2014 annual conference in Queenstown today (23 October).

In a joint release, Cavalier Wool Holdings (CWH) and New Zealand Wool Services International (NZWSI) today announced that they have signed an agreement to merge the scouring assets of the two organisations.

Energyworks used a combination of innovative pipe-laying and remediation techniques to minimise the environmental impact of two major oil and gas pipeline projects the company completed in Taranaki last year.

Kiwi e-commerce firm Debitsuccess is expanding its payment solutions operation into the US, the company has announced.

The international growth comes as the Auckland-based business prepares to celebrate its 20 year anniversary, and caps off a busy 12 months for the company which acquired UK direct billing providers Harlands and DFC.

Shares in leading New Zealand agribusiness group, Scales Corporation, began trading on the NZX Main Board today following the successful IPO that raised $149 million through the sale of new and existing shares.

The stock in the horticulture, storage and logistics and food ingredients business had been issued at $1.60 valuing Scales at $224 million.