Greenhouse builder Apex sells minority stake to Dutch player

Image credit: Apex Greenhouses

Apex Greenhouses, the largest builder of commercial greenhouses in Australia and New Zealand, has agreed to sell a minority stake in the business to Dutch aggregator GreenV BV.

Folco Faber, Apex Greenhouses’ Australian chief executive, stated that GreenV acquired the minority stake to further its aim of providing world-leading comprehensive glasshouse projects while sharing its knowledge and international experience.

Faber emphasised that partnering with GreenV was a well-thought-out option that allowed Apex to harness GreenV’s access to cutting-edge automation and emissions-reducing technologies in a fast-evolving Controlled Environment Agriculture (CEA) business.

“Our typical client 10 years ago was a family operation and while they are still an important part of our customer base, we see larger corporate interests entering the space with heavy investment worldwide from PE, super funds and listed companies,” the chief executive explained.

He added, “High-tech greenhouse projects are capital-intensive, so the monetary injection is needed if we are to feed the planet.”

Apex, which has built projects as big as 130,000 square metres, manufactures large-scale commercial buildings for the Australian and New Zealand horticulture industries, such as university R&D projects, Botanic Gardens, and packing sheds.

In addition to giving Apex a voice at the table, Faber said the partnership with GreenV enables James Harris, general manager of New Zealand Operations, to maintain complete control over the day-to-day operations of the company

“Our extremely hard-working staff are now part of something much larger and this will open doors for further personal growth and development of all employees,” he said. 

Faber stated that going forwards, the company’s main focus will be on offering clients energy-use improvements, including more effective and low-carbon energy generation for food production and also automation as a way to improve labour efficiency.

Apex Glasshouses, formerly known as Faber Glasshouses, was founded in New Zealand in the late 1970s by Dutch immigrant Leo Faber.