Fund buys Viking Pacific

Viking Pacific, the company formed to manage Skellerup Group's "good" assets following the group's near-collapse, comprises heritage brands Masport, Masport Foundries, Paykel, New Zealand Insulators, Pacific Wallcoverings, A&G Price and R H Freeman & Co.

Clark Perkins, chairman of JB Were's No. 1 Private Equity Fund, said the deal would give the fund immediate critical mass.

Viking earlier this year floated Skellmax Industries, comprising rubber goods maker Skellerup Industries and pumpmaker Flomax.

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