Today McKay Group and Cervina Marine announced that they have entered into a definitive agreement under which McKay Group will acquire Cervina Marine, the second acquisition for McKay in 2015. The acquisition will become effective on 1 October 2015.
Cervina is an Auckland based automation and electrical design company serving the marine and industrial markets. Andrew Edwards, Chief Operating Officer at McKay Group, says that the acquisition is a strategic move that reinforces McKay’s growth strategy.
“The acquisition of Cervina demonstrates our commitment to meeting the demands of the market” said Andrew Edwards. “In addition Cervina’s business aligns with our new commercial structure and is an excellent strategic fit for the future direction of McKay both domestically and internationally”.
The Cervina brand will be integrated into the McKay Group of companies and will add a growing revenue stream and a platform of growth for McKay’s marine division. The collaboration will allow McKay build a broader portfolio of control systems engineering in the marine and industrial markets.
“The addition of Cervina has the potential to fundamentally improve the progression of our marine business” said Lindsay Faithfull, Chief Executive Officer, McKay Group. “The combination of Cervina’s ability to provide award winning marine electrical design, and world class Alarm Control and Monitoring systems and our capacity to provide leading system integration and full electrical solutions will deliver an even broader service offering to both Cervina’s and McKay’s global customers”.
The decision to sell Cervina Marine resulted from a strategic review of the business. Cervina’s General Manager Tony Mitchell said he had a desire to collaborate with a company that has more substantiated resources and the ability to support a broader range of customers internationally.
“The acquisition is an excellent fit as both companies are now in a strong position to leverage our complementary strengths and robust portfolios in New Zealand and around the world”, said Mitchell.