Long-time Industry stalwart and the cornerstone of the Inner range/CSD “Group”, Vin Lopes, has been looking to cement plans for the future of both businesses after the recent retirement of his partner and co-founder Doug Frazer.
The Group announced today that a 50% shareholding has now been acquired by a coalition of three senior management staff and New Zealand Company Atlas Gentech. Atlas Gentech is a New Zealand based security distributor that has a virtually identical product portfolio to that of CSD in Australia.
The re-structured Trans-Tasman Group already operates with almost zero debt and has significant cash reserves, so with more than 200 employees and combined revenues exceeding 100 million dollars it should prove a worthy contender.
Inner Range has a substantial technology development facility in Melbourne and a European sales office in the UK pushing its new Integriti product suite into countries all around the world.
A spokesperson for the group says that a CSD branch will commence operation in the ACT early next year and that they are now looking for acquisitions to expand the group’s activities in its core areas of technology development and distribution.
Mr Lopes says he is looking forward to working with the exciting new blend of business experience and high-tech youthful energy that he now has around the board room table. With this new adrenalin burst the companies are well placed to continue the stellar growth that they have enjoyed in recent years. The Group is confident that they will be a driving force within the security industry for some time to come.