Rangatira is happy to be the majority owner of Rainbow's End, after making a bid for its owner, New Zealand Experience.
The Wellington-based investment concern secured a 75% stake from Garlow Management of Canada after offering 36 cents per share for New Zealand Experience, automatically triggering a bid for full control.
Chief executive Ian Frame said Rainbow's End is a sound business with moderate growth prospects, a profile that fits well in its investment portfolio.
The company's profit fell 38% to $3 million in the six months to September, compared with the same period a year earlier, due to a slowdown in earnings from Contract Resources, an oil and gas services firm.
In recent years the firm has expanded its investment net, to include potentially high-growth developing firms to complement its traditional focus on investing in medium-sized manufacturing firms.
