Engineering firm a national leader
The Patton Group, a wellregarded high- tech engineering business based in Hastings, is now for sale. The family- owned business comprises three operations — Patton Engineering Ltd, Hawke’s Bay Sandblasting Ltd and Patton Administration Ltd — and it comes with a large staff operating from a purpose- built factory at Whakatu. The asking price is $ 5.3 million. “What this business has achieved is impressive to say the least,” says Link Business broker Mike Fokkens, who is selling the The Patton Group with his colleague Bruce Cattell.
“For example, Patton Engineering is set up to tackle a range of complex engineering challenges concurrently, servicing Hawke’s Bay winery and packing projects through to earthquake strengthening jobs in Wellington.”
The business is only on the market due to the owners’ decision to retire and pass the baton to somebody new, he adds.
“So, it’s truly a rare opportunity for a potential buyer — the like of which we seldom have the privilege to bring to market.
“And the due diligence will reveal an unusual level of sophistication spanning technical skill and adminis- trative experience; plus there’s advanced software systems, an impressive level of forward orders and human capital second to none.
Fokkens says 50- 60 experienced staff, who work at the business at any one time, have a formidable depth expertise and experience.
“This loyal staff have been led by brothers Gavin and Mike Patton, whose drive, innovation and pursuit of excellence has been relentless.”
He points out Patton Engineering Ltd is one of only 20 structural engineering companies in New Zealand to have achieved ISO 3834 accreditation. Hawke’s Bay Sandblasting i s ISO 14001 and PCCP ( Painting Contractor Certification Programme) accredited.
The Patton Group is the only company group qualified to this level in New Zealand.”
Cattell says the depth of today’s operation can in some respects be explained by its history, dating back to 1955 — when first established by George Patton.
Patton Engineering ( formerly G. R. Patton Ltd) was developed to provide superior precision and general engineering even then, says Cattell.
“Over time, the business devel- oped a manufacturing section, providing bulldozer blades, forklifts and tilting counter- balance doors.
The completion of larger projects earned the company credibility in the market as a premium provider of project management services backed- up by excellent customer service. “When George Patton retired in 1980, Gavin and Mike purchased the business, moving its focus to medium/ heavy machining and fabrication.
At this time, Patton Engineering Ltd had about 15 staff, several lathes and cutting machines.
Patton Engineering Ltd was then seen as the leading supplier of high quality engineering in Hawke’s Bay.
“Today, Patton Engineering Ltd continues to lead the way, using the most current technology.
“In March 2006, it relocated from Stoneycroft Road, Hastings, to a new leased 4400sq m purpose- built premises at 32 Rangitane Rd, Whakatu.
“This site is designed to ensure the efficient flow of both incoming and outgoing products, therefore eliminating any double handling,” says Cattell.
“Gavin and Mike have indicated that when the business sells, they will be happy to continue in an advisory role for agreed period of time, to ensure a smooth transition to a new owner,” he says.