Reliability is a valuable trait in both people and products. Discovering a company that embodies this trait in both people and its offerings represents an opportunity.

Reliable Foundations Ltd (RFL) appealed to Simplicity as a private equity investment on all the fundamentals. The company is a one stop foundation shop for the building industry, including all types of raft and conventional foundations, structural engineering design and inspections, excavation and the supply and installation of screw piles. 

The company was one of the first private equity investments Simplicity made back in 2022, when we took a 22% stake in the fast growing company. Investing in Reliable gives Simplicity national exposure to the construction industry through builders of homes and aged-care facilities.

RFL began in September 2007 after a large home builder based in the Kapiti region was unable to source a local provider for his RibRaft foundations. After identifying this gap in the Wellington market, RFLwas formed, and expanded throughout the Taranaki region, then the greater North and South Islands.

In 2014, Simon and Carolyn Henderson were approached to expand the business to the Auckland region, and between 2015 – 2020 RFL opened businesses in Auckland, Hamilton, Tauranga, Hawkes Bay, Taupō, Dunedin and Queenstown - relocating managers or recruiting external talent to manage the regions.

RFL's growth journey also involved acquiring its first Earthworks business in Auckland in 2016 (RFL Earthworks), subsequently replicating this success in the South Island.

A pivotal moment in RFL's evolution occurred in 2019 when they encountered Katana Foundations in Australia, a company specializing in screw piling across the eastern seaboard. Impressed by the efficiency of Australian piling operations, RFL strategically acquired a license to operate screw piling in NZ. This innovative piling system not only brings cost savings to customers but also significantly reduces time on-site compared to traditional bored concrete piles.

Continuing its expansion plans, in early 2023 RFL made the decision to purchase another foundation business. RFL Australia was born 1 April 2023 based in South Brisbane. 

RFL has grown hugely over the last 15+ years but is still managed by the same group of people. They focus on creating an inclusive environment for their staff to grow their skills. 

With the Private Equity Fund investment Simplicity has cemented its commitment to a company that not only builds foundations but also stands on a solid foundation of reliability and growth.