Airport tech firm on track for $150m revenue after Japanese buy-in

Patrick Teo.

Airport logistics and baggage handling company BSC Group is on track to hit $150 million of revenue for the financial year and is aiming to become a billion-dollar software company, says chief executive Patrick Teo.

The company was the 11th fastest-growing tech company last year, according to the annual TIN100 report, which ranks companies by revenue and growth. Teo said investment from Japanese company Daifuku, which bought an 80 per cent stake in BCS last year, had opened new markets.

"The Daifuku association has opened doors for us globally, far faster than we could ever have done on our own," Teo said. "Through Daifuku we have already accelerated our growth plans into wider Asia, and the fast growing markets of Africa and the Middle East."

Teo said the boost from Daifuku, which also operates in the logistics and baggage sector, would likely result in more R&D activity in New Zealand and provide more jobs.

Daifuku president and chief executive Masaki Hojo said the association with BCS had shown how New Zealand companies could use partners to expand market opportunities and help with growth.

"The unique ability that New Zealand companies have, to be agile and move quickly, and put innovative answers to problems is very attractive," Hojo said. "I believe there will be more investment into New Zealand that will bring considerable benefits to help local companies expand and grow."

The partnership would also see BCS introduce Daifuku innovation into Australia and New Zealand, including robotics and automated storage and retrieval systems.

BCS Group

• Company revenue increased by 67.7% to $140 million last year.

• The company is on track to hit $150 million this year.

• Aiming to be a billion-dollar company.

• Automotive and airport systems manufacturer Daifuku purchased an 80% stake in BCS Group last year.