TPT Group has made its twelfth acquisition in New Zealand with the purchase of data communications business Cablenet.
According to a TPT Group media release, Cablenet is one of the largest ICT infrastructure companies in New Zealand. It will join other technology related businesses in TPT’s Advanced Group, which includes Advanced Security, IT Engine and ASG Technologies.
According to TPT Group CEO Mike Marr, the Group is built on a passion for growing a great group of businesses in a way that heroes and harnesses Kiwi talent and innovation.
“This new acquisition is a strategic move that means we can converge our businesses and utilise Cablenet’s capabilities for the benefit of all the New Zealand companies in our group. This represents a significant opportunity and a chance to embrace further growth and innovation,” Marr said.
“Cablenet has been heavily involved in some of the largest communications and network infrastructure projects in New Zealand. Their senior management team remains committed to the belief that the ongoing success of the company is a direct result of the professionalism of the staff and the quality of service the company provides,” he continued.
According to former Cablenet owner Terry Powell, the business has developed a proven ability to complete a range of ICT projects, from time-critical national technical rollouts to large scale data, wireless and electrical contracts.
“This is an exciting chapter for Cablenet, and we are extremely excited to be joining TPT Group,” said Powell. “Our biggest strength is our people, and this acquisition gives a clear pathway forward while maintaining our family values to staff and clients.”
TPT Group has grown since its launch in 1999 through a combination of organic growth and acquisitions. Its Advanced Group provides services and solutions in electronic security, information technology, exponential technologies and now data communications.
A new Cablenet office is planned for Palmerston North in early 2022.
