Tauranga, 28 September – Balex Marine, manufacturers of the innovative Automatic Boat Loader (ABL), has launched a capital raise open to the public on Snowball Effect to complete its current funding round.
The round will be open from 26 September until 17 October, and the capital will be used to strengthen the company’s push into new markets in Australia, Europe and the US.
The remote controlled ABL is a patented world first disruptive marine technology that solves a universal problem for boaties – the launch and retrieval at the ramp. A Hutchwilco Boat Show award winner, the ABL has aroused strong interest in the marine industry.
“The Snowball Effect round is the first time retail investors will have an opportunity to take a stake in the ABL,” said Chief Executive Paul Symes, a co-founder of the company. The minimum investment size for the online offer will be $2,000. The offer will be targeting $300,000 to close out the current capital round, with provision for over-subscription.
“We have already achieved a number of our key production and marketing targets and are now looking to establish the most effective ways to meet the growing trade and user demand that we are experiencing both in NZ and abroad,” said Mr Symes.
“The ABL is now in commercial production and Balex has partnered with Gait International to manage all procurement, manufacturing, assembly and testing. Partnering with Gait has secured a world-class scalable supply chain solution that will meet the current and future needs of the business.”
The company has signed up NZ’s largest nationwide marine dealer, Boating and Outdoors, with 23 stores, and has partnership agreements with four major trailer manufacturers and five NZ boat manufacturers. The company has also signed an exclusive distribution agreement for the UK, Europe, Middle East and Africa (EMEA) with Forge Group (UK). Balex and Forge Group promoted the ABL2500 at the Southampton Boat Show in September, and will be at the Marine Equipment Trade Show (METS) in Amsterdam in November.
Balex Marine has sponsorship deals with two of New Zealand’s leading TV Fishing Shows – Big Angry Fish and Fishy Business. After six months of intensive use while filming their latest series 5 BAF show, host Milan Radonich said: “Once you use it, you will never go without it. The Balex ABL is innovation at its finest – it takes the final pain out of fishing.”
Forge Group co-founder Matt Forbes, who saw the ABL in action recently during a day out with the team from Big Angry Fish, described the launch and retrieval as amazing. “From being in the water, to parked in the car park, took 90 seconds. It was unbelievable.”
CONTACTS & LINKS
- Balex Marine – Chief Executive Paul Symes – 021-466-536
- Snowball Effect – Shaun Edlin, Head of Deal Flow – 022-106-275
- Snowball Effect website link: https://www.snowballeffect.co.nz/offers/balex-marine
- Balex Marine website: www.balexmarine.com