From Invercargill to Alaska, this iconic New Zealand aluminium boat business is expanding into North America with private equity funds. Video / Cameron Pitney
South Island aluminium boat manufacturer Stabicraft Marine is investing across North America in a bid to grow its exports to the Northern hemisphere.
“That’s really a big opportunity for us,” Stabicraft chief executive Aaron Greene told Markets with Madison.
“When we talk North America, it’s really the US,Canada and Alaska.
“We are very different to what is available up there, we are very new.
“[But] we know when we get people to visually see our product, and then when we get them on the water, they’re generally converted.”
The near 40-year old business was founded by Bruce Dickens and Paul Adams.
Stabicraft founder and majority owner Paul Adams.
Adams owns around 64% of the business and remains on the board, although his time is spent innovating new amphibious boat designs under the StabiX brand.
KiwiSaver fund Simplicity bought a near 36% stake in Stabicraft in 2024.
“Having another partner, as a shareholder, gives us that ability to, I guess, move at pace in some areas.”
See some of Stabicraft’s boats in action and hear how it builds them by hand in Invercargill and tests the designs off New Zealand’s coast, in today’s episode of Markets with Madison above.
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Disclaimer: The information provided in this programme is of a general nature, and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.
Madison Malone (nee Reidy) is host and executive producer of the NZ Herald‘s investment show Markets with Madison. She joined the Herald in 2022 after working in investment, and has covered business and economics for television and radio broadcasters.
