David Wallace – Joint Managing Director
David Wallace has a background in asset management, investment banking, equities research and corporate treasury, with 30 years of experience working in the capital markets in New Zealand. He has had corporate treasury roles for Winstone Limited, NZ Steel, and Clear Communications and worked for JP Morgan (formerly Ord Minnett). Throughout his career, he has overseen a broad range of transactions including IPO’s, debt raisings, MBO’s, mergers, acquisitions and divestments and has been a rated equities analyst for the telco and IT sectors.
David currently chairs Eurotech Design and the advisory boards of Pinnacle Rigging and AE Tilley.
He is also the chair of Snow Sports New Zealand.
Selected Engagements:
| Earthcare Environmental | Capital Structure Review |
| Ebert Construction | $30m Performance Bonding Facility |
| GFNZ | Independent Advisor Report |
| Pinnacle Corporation | Business Integration Valuation |
| Manawatu Precision Enterprises | Sale of MPE to Wells Electrical |
| Pulse Utilities NZ | $3.4m Equity Raising |
| Active NZ | $8.75m Acquisition of Active, $4.5m Debt Facility Due Diligence Purchase Price Allocation |
| Cuthbert Stewart | Advisory in respect of implementing an EVA Incentive Program |
| Brightwater Engineers | Structuring and Arranging $20m Build Own Operate Transfer Project |
| Green Fingers | Debt Refinancing & Acquisition Facility |
| Groenz | Arranged $5.1m Debt Facility and $1.4m Preference Share placement |
| Citylink | Review of MBO Funding Structure |
| Cube Capital | Acquisition Due Diligence on Smartpay New Zealand |
| Calgary Petroleum | Private Placement |
| NZ Crane Hire | $10m Equipment Finance |
| Eurotech Design | Acquisition Advisory, Due Diligence, and Debt Funding |
| Intercoll | Business Valuation |
| Omaha Organic Blueberries | $1.5m equity capital raise |
| Syl Semantics | Sale of the Business |
| Tamaki Tours | Business Valuation |
Asset Management & Governance:
| Snowsports NZ | Board Chair |
| Unlisted Securities Exchange | Asset Management (current) |
| Crowdsphere | Asset Management (current) |
| Residential Property Ventures | Asset Management (current) |
| Eurotech Design Group | Board Chair |
| Pinnacle Rigging | Advisory Board Chair |
| AE Tilly | Advisory Board Chair |
| Touchstone Capital Partners | Asset Management (Previous) |
Leon Grandy – Joint Managing Director
Leon Grandy has a background in structured finance, corporate banking and executive management, having spent over 25 years working for major financial institutions such as ABN AMRO, AXA, HSBC and Westpac. During his time at Armillary, Leon has trained thousands of people globally in relation to a range of financial, risk and management topics.
Leon is currently Chair of the boards of the Keith Andrews Trucks group and the Switched On Property Group.
He is also a Trustee of the Scout Youth Foundation and a Fellow of the Finance Insurance and Securities Institute of Australasia.
Selected Engagements:
| Cabernet Food | Acquisition Advisory Regarding Ruakura Advisory |
| Education New Zealand | Project Review |
| GlobeClaritis | Strategic Advisory |
| KiwiStar Optics | Strategic Advisory |
| The Research Agency | Acquisition of The Research Agency & Acquisition Finance |
| NZ Transport Authority | Investment Behaviour Audit |
| Ricoh South Pacific | Acquisition Advisory |
| SKIDS | Equity Raising |
| Dynapack | Funding Options Review |
| Keith Andrews Trucks | Acquisition of Roadlife Trucks & Debt Financing |
| Mojo | Strategic Advisory & Funding Options Review |
| Wilderness Motorhomes | Private Placement |
| Braincell | New Business Venture Review and Review of Partnering Opportunity |
| Jobs.co.nz | Capital Restructure & Convertible Debt Issue |
| RoadCraft and Wilderness Motorhomes | Debt Raising |
| Red Hot Business Coaching | Debt Raising |
| Product Placements | Sale of Product Placements |
| Brightwater Engineers | Structuring and Arranging $20m Build Own Operate Transfer Project |
| Prime Finance | Acquisition of Prime Finance by Allied Farmers Finance |
Asset Management & Governance:
| NZ Trade and Enterprise | Advisor to International growth fund (current) |
| Keith Andrews Trucks | Advisory board member (current) |
| Switched on Property Group | Advisory board chair (current) |
| Roadcraft | Compromise Manager |
| SKIDS | Advisory board chair |
| 77 Pieces Ltd | Director |
Nigel Foster – Armillary Management
Nigel has had more than 20 years’ experience specialising in business improvement and turnaround management, including 5 years as CEO of McCallum Petterson and leading its business improvement and turnaround division. Nigel provides governance and management support for businesses needing hands-on help to undertake change, frequently in circumstances of business distress, and in migrating businesses towards a more robust approach to governance. His experience spans a wide range of business sectors. Prior to his role at McCallum Petterson Nigel was a shareholder/director of a large Wellington-based IT services company. Nigel holds the degrees of Bachelor of Commerce and Administration and Master of Business Administration from Victoria University of Wellington.
Martin Gray – Executive Director
Martin Gray has over 20 years of corporate finance experience in Asia, New Zealand and Europe. He has advised on over 100 transactions with a total value exceeding US$1bn. Martin’s key areas of expertise includes mergers and acquisitions, business disposals, finance raisings, project finance, independent expert reports, valuations, and due diligence, with substantial listed and private company lead advisory experience.
Prior to joining Armillary Private Capital, Martin was head of M&A for EY in New Zealand. Martin holds a Bachelor of Commerce and a Diploma in Business (Finance) from the University of Auckland. He also holds the ACA qualification and a Certificate of Public Practice from Chartered Accountants Australia and New Zealand.
Martin is currently a Director and Chair of the Audit and Risk Committee of Airwork Holdings, a director of Spectrum Consulting, a member of the Setek Therapeutics Advisory Board, a member of the New Zealand Institute of Directors, and Chair of the College Board of Wanganui Collegiate School. Martin is also a member of the Advisory Board of Visual Group.
Geoff Davis – Executive Director
Geoff Davis has over 20 years of experience in finance and investment markets with a particular emphasis on corporate finance, equity capital markets and all aspects of M&A.
Prior to joining Armillary Private Capital Geoff has worked at TeamTalk, Active Equities, Brierley Investments and National Mutual / AXA Funds Management. Geoff holds a Bachelor of Commerce degree from the University of Auckland and is an ACA member of Chartered Accountants Australia and New Zealand.
Phil Jones – Executive, Business Broking
Phil Jones has joined our business broking team having recently been a professional cricket umpire for 15 yrears. He umpired in New Zealand and overseas at provincial and international level. Prior to his involvement in cricket, Phil was for several years a successful business broker with Clyth MacLeod Business Sales based in Auckland.
Peter Bosworth – Associate
Peter Bosworth has had executive roles in the commercial, corporate and agribusiness markets having spent 15 years working in the banking and finance sector for Westpac and SCF. For the last eight years and prior to joining Armillary Private Capital he has been advising clients across a number of sectors on strategic initiatives, debt and equity raising, mergers and acquisitions, new growth developments and governance.
Peter holds a Bachelor of Commerce (Agricultural) from Lincoln University and a Master’s in Business Administration from Canterbury University.
Peter is currently a director and Trustee of Hohepa Services Limited and Hohepa Homes Trust Board and sits on and chairs a number of advisory boards for private companies.
Dene Biddlecombe – Associate
Dene Biddlecombe has extensive experience in governance and senior management roles in the public and private sectors. He is currently Chairman of NZAX listed Lateral Corporation and holds governance roles at numerous other entities.
Prior to joining Armillary Private Capital Dean was the CEO of NZAX listed Pulse Utilities New Zealand Ltd and NZX-listed Horizon Energy Distribution Ltd and formerly CFO for NIWA, with responsibility for their research and commercial activities in the United States. Dene has a Master of Business Administration from Otago University in Marketing and Corporate Strategy and is also a Fellow of the Chartered Accountants Australia New Zealand (CAANZ) and a member of the NZ Institute of Directors.
Dean Prebble – Associate
Dean Prebble has over 20 years’ experience in early stage investment, financial training, business coaching, international trade and management consulting. He has led a number of technology commercialisation assignments from initial intellectual property assessments through to negotiations with offshore licensees. Dean’s particular focus is on investment readiness for early stage companies.
Prior to joining Armillary Private Capital Dean was New Zealand Trade Commissioner, based in Taiwan. His earlier career includes senior positions with CS First Boston, The University of Auckland, Ernst & Young and EverEdgeIP. Dean holds a Bachelor of Commerce from The University of Otago and a Master of Commerce from the University of Auckland.
Charles Pearce – Analyst
Charles joined Armillary Private Capital in March 2017 as an analyst providing support to the senior members of the team. Charles holds a Bachelor of Commerce with Honours from Lincoln University. He is currently studying for his CA qualification.
James Parker – Analyst
James joined Armillary Private Capital in February 2018 as an analyst and provides support to senior members of the team. He holds a Bachelor of Business and a Master’s in Finance from the University of Technology Sydney.
Joshua Schreiber – Analyst
Joshua joined Armillary Private Capital in April 2018 as an analyst providing support to the senior members of the Wellington team. He holds a Bachelor of Commerce from Victoria University of Wellington. Prior to Armillary, Joshua worked for a global fintech service.
