GPE is pleased to announce its investment in the innovative management services business, AskYourTeam NZ Ltd ‘AYT’.
GPE associated entity, Genesis Private Equity No.1 Fund LP’s investment represents a 25% holding in the Havelock North parent entity Ask Holdings Ltd.
GPE Executive Director Kieran O’Hagan has joined the AskYourTeam board.
AskYourTeam was established in April 2014, after the founders developed a tool for business leaders that enables them to pinpoint exactly what’s holding their operations back from achieving the performance levels leaders’ want, across the organisation, and in each of their teams.
The tool comprises a cloud based staff survey which garners anonymous feedback from an organisation’s staff members to enable its owners/managers/board to pinpoint areas in an organisation that are contributing to high performance and, importantly, the areas where material improvements can be achieved.
Leaders can ascertain exactly where in the business to direct their effort – no more guesswork or assumptions.
The process includes getting peoples’ ideas for improvement and re-testing functionality, whereby leaders reengage staff via subsequent surveys to obtain feedback to evaluate the effectiveness of action plans in driving desired change/s in their specific area.
It’s an effective way for generating continuous involvement of an organisation’s greatest asset, its people.
AskYourTeam has made significant strides building its client base, which now includes a range of listed NZ Companies, Government Departments, Local Government Authorities, Primary Health Organisations, Member Organisations as well as a wide range of privately owned businesses with as few as 6 employees and up to several thousand.
It has been used internationally and is available in several languages.
The service offering has been developed in collaboration with, (and is regularly reviewed by), the University of Waikato’s highly regarded business school of management.
Comments from AskYourTeam and GPE
Kieran O’Hagan, Executive Director of Genesis Private Equity Limited, and appointee to the AYT Board says the development of AskYourTeam thus far has been impressive:
“For a relatively young business, AskYourTeam has already won a significant number of high quality organisations as clients, across a wide cross-section of industries and sectors.
“Several of these clients are confirming the AskYourTeam process has been transformational for their business.”
“In our view, AskYourTeam has identified a strong market opportunity and then built a tool which whilst clever in its simplicity, meets that market need better than any of its domestic and international competitors.”
“As a significant investor, GPE is excited about AskYourTeam’s achievements so far, and with our investment, the business is now ideally placed to take advantage of the growth opportunities already present in the NZ marketplace.”
“We’re excited to be partnering with a high calibre team and with our business experience and wide-ranging networks we hope to add real value to AskYourTeam’s future trajectory.”
AskYourTeam’s CEO Chris O’Reilly is also excited about the transaction:
“We are thrilled to have such a supportive equity partner come on board to help fund the growth potential that the business has created in such a short time” he said.
“In such a dynamic environment, having the funds to act and realise on the opportunities that arise is critical to success”