Plan-b bags fresh investment

Founder of business continuity provider retains majority shareholding

Business continuity company Plan-b has gained two new investors, including Gullivers Travel founder Andrew Bagnall.

Bagnall is also the majority shareholder of NZX-listed Life Pharmacy. 


A further shareholding has been acquired by Bearing Trustees, the investment company of Plan-b employee Mark Hardie and Stuart Alexander. Bearing has interests in technology companies including Value Added Distributors, recently acquired by Ingram Micro.


Bagnall and Alexander will join Plan-b's board, while Hardie already has a senior role in Plan-B as general manager sales and marketing.


Plan-b founder Gray Mathias retains the majority shareholding and will continue as chairman.


“The new investment positions Plan-b to grow to the next level,” says Plan-b managing director Ian Forrester in a statement. The company, he says, plans to further expand its services offshore.