ELF Group

ELF Group is based in New Zealand and consists of two business units – Speirs Finance, which offers asset finance and leasing solutions, and ABE, which provides heavy equipment sales, distribution, and maintenance.

Speirs finances a book of critical business assets and has a 50-year heritage of supporting business growth and success through business assets and equipment finance.

ABE is a diversified heavy equipment distribution, leasing and service platform across industries and franchises, combined with nationwide infrastructure.

Both Speirs and ABE have their head office in Auckland, New Zealand.

Investment Overview

Spiers is scaling quickly, has a high-quality book with low customer arrears and high-quality counterparties. As part of our acquisition, we identified an opportunity to further accelerate growth and gain access to new markets through a revised funding structure and a reinvestment in the Speirs team and growth strategy. We implemented an enhanced funding structure as part of our acquisition as the first step in capturing this opportunity.

ABE has a large, diversified customer base across multiple industries in New Zealand along with one of the largest nationwide footprints of industrial workshops. In partnership with ABE management, we identified a number of initiatives to capitalise on this platform, including expanding end markets and growing ABE’s share of aftermarket services.

Speirs is led by Chief Executive Officer, Michelle Herlihy while ABE is led by Chief Executive Officer Peter Dudson.

Anchorage is represented on the Board of ELF Group by Simon Woodhouse, Ben Ware and Jesse Alderton.