Kiwi tech acquisition company Blackpearl is the NZX’s only IPO for late 2022

Kiwi tech company Blackpearl Group (BPG) will list on the New Zealand stock exchange next month – the only IPO for the NZX in the second half of 2022.

Blackpearl builds, acquires, and markets data-driven cloud services involving productivity and demand generation applications for small and medium-sized businesses (SMB). Its proprietary data platform, the Pearl Engine, is at the core of its growth strategy.

Founder and CEO Nick Lissette said he wants to go public to support for future growth and acquisitions, but surprisingly there is no capital raise associated with the listing.

The 10-year-old company is expected to list around next Friday.

“A direct listing on the NZX offers us the fastest and lowest cost means of moving to a public platform to support future growth,” Lisette said.

“Our goal for the intended listing is to accelerate acquisitions by being able to offer stock in a listed entity as part of our offer to companies we wish to acquire. Becoming a listed company also offers future capital raising opportunities on the public market.”

Blackpearl Group chair & investor Tim Crown

The company is chaired by US entrepreneur and investor Tim Crown, cofounder of the Nasdaq-listed Fortune 500 company, Insight Enterprises.

A local listing appealed he said, because the NZX is a low cost and low friction listing platform

“Blackpearl Group is both a technology company and an investment company with enormous opportunity,” he said.

“Having invested in creating a unique technology platform that can add value to a range of applications, we have an opportunity to innovate into new digital markets.”

Lisette told the Startup Daily show that the Software as a Service (SaaS) company currently has its eye on an Australian business for acquisition and Sydney is his favourite city in the world. The Blackpearl founder believes market slowdowns and plummeting valuations of private businesses due to global recessionary pressures have created unprecedented opportunities for a company like his. His latest acquisition is the HTML email signatures generator NewOldStamp.

“Our strategy is about much more than simply acquiring technology businesses for their revenue, it’s about gaining access to new talent and markets, and most importantly, accelerating organic growth,” Lisette said.

“Our private platform enables us to help the businesses we acquire accelerate their growth and development.”