The Management Team of RHE Infrastructure Services Ltd (RHEIS) led by three of its Kiwi management, has today purchased a majority ownership of the company.
The previous overseas sole owner Investor’s Guaranty (IG) will retain a minority interest. “IG is excited at the prospect of having the key managers with over seventy years industry experience align their interests for the long term future of the Company” quoted RHEIS Chairman Damian Archbold.
The RHEIS Management Team of Al Moore, Mick Scott and Jono Green have joined Damian on the Board of Directors.
This positions RHEIS as a locally managed business, and fully separated and autonomous from the other RHEGroup companies.
This decision by the management team was stemmed by their desire to face the marketplace with confidence and integrity regarding the company’s financial position and future direction, especially after the Receivership of RHEGroup sister company RHE and Associates NZ late last year. The acquisition provides RHEIS with a healthy positive balance sheet, to support the strong order book, positive cashflow, and a management team fully committed to the continued success of RHEIS.
“I am excited about the positive outlook this provides for all of our key stakeholders including staff, partners, and clients, and further building upon our success as a leading supplier of Information Technology Services”
– Al Moore, CEO.