Peter Rae Industries Ltd is a former unlisted public company, now wholly –owned and controlled by Christchurch-based businessman, Peter Rae.
The company was formerly known as Waitaki Transport Holdings Limited and was formed in 1965 through the amalgamation of several transport companies in North Otago and surrounding districts.
Following the company’s formation further transport businesses were acquired, and the transport activities rationalised into main base areas.
In late 1984 Peter Rae relinquished his day-to-day involvement in the company as Managing Director and assumed the position of Chairman of Directors, concentrating on the further rationalisation of the transport business and diversification of the company into related operating and investment activities.
In 1987 Peter Rae acquired a controlling interest in the company.
The company name and structure was changed from 1 July 1989, with the transport assets, and related liabilities, transferred to a wholly-owned subsidiary, Waitaki Transport Limited. Properties and other investments, including total ownership of the transport company were retained by the parent company.
Peter Rae resumed a fulltime involvement as Chairman and Managing Director of the renamed parent company.
In June 1997 50% of the shares in the subsidiary company, Waitaki Transport Limited were sold to senior management personnel of the transport company, which accordingly now operates as an associate company of the group. Read about Waitaki Transport’s history here: New Zealand Trucking – Waitaki Transport World Famous in Otago
In August 2000 Peter Rae Industries Limited negotiated a sale of Waitaki Transport’s Kurow-based livestock and rural division to the Owens Transport Group.
On 30 November 2017 the remaining assets and business of Waitaki Transport Ltd were sold to Hoskins Transport Ltd, thus terminating 52 years of involvement in the road transport industry for Peter Rae Industries Ltd.
Outside of its investments in associate companies, and portfolios of listed and unlisted companies (New Zealand, Australia and Hong Kong), the parent company’s main trading activities are in property ownership and investment.
Peter Rae was an initial director, and Peter Rae Industries Ltd a 10% shareholder, of National Property Trust Ltd, the original management company of The National Property Trust which listed on the NZX in 1994.
Peter Rae Industries Limited is also a founder-shareholder in Efficient Market Services Limited, the operator of the “USX” alternative securities trading facility.
In March 2014 the company acquired a 35% shareholding in Mutual Credit Finance Limited through the placement of new shares in the finance company.
In June 2015 Peter Rae completed a successful takeover offer for all of the minority shareholdings in Peter Rae Industries Ltd, thereby acquiring total control of the company.
Peter Rae also has a substantial involvement in non-group directorships.
