Lloyd Percival
Finance Manager
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- Full Name
- Lloyd Percival
- Title
- Financial Planner; former Finance Manager at Pencarrow Private Equity
- Firm
- Pencarrow Private Equity
- Firm Type
- Private Equity
- Investment Stage
- Management buyouts, management buy-ins, late-stage expansion capital, replacement capital
- Check Size
- Pencarrow says it seeks to deploy at least NZ$15 million per investment and can provide up to NZ$60 million of equity capital from its fund
- Target Company Profile
- Established New Zealand companies with positive cash earnings, growth potential, and founders or management teams seeking capital for acquisitions, succession, mergers, or expansion
- Sector Focus
- Technology-enabled services, branded consumer products, technology, healthcare, financial services; broader portfolio also includes consumer, logistics, veterinary/agricultural products, investment administration, apparel, retirement living, beverages, and cybersecurity
- Geographic Focus
- New Zealand
- Location
- Wellington, New Zealand
Background
Lloyd Percival is an accounting and finance professional in Wellington, New Zealand. Public employment-history sources list him as Finance Manager at Pencarrow Private Equity from August 2018 to May 2023. Pencarrow is a New Zealand private-equity manager founded in 1993 that invests in established mid-market New Zealand companies.
Before Pencarrow, Percival held finance and accounting roles across financial services and consulting: Consultant at Deloitte in Wellington from February 2007 to May 2008, Fund Accountant at AMP from May 2008 to January 2011, Financial Accountant at Cigna New Zealand in 2011, Senior Investment Accountant at ACC New Zealand from 2011 to 2014, Senior Fund Accountant at BNP Paribas from 2014 to 2016, and Oracle Cloud Consultant at PrimeQ from 2016 to 2018.
After Pencarrow, SignalHire lists him as Finance Contractor at Motor Trade Association from May 2023 to February 2024, Finance Contractor at New Zealand Rugby from February 2024 to July 2024, Manager Finance and Systems at Central Pacific Collective from August 2024 to June 2025, and Financial Planner at Capital & Coast District Health Board from July 2025. His education is listed as a Bachelor of Commerce and a Graduate Diploma in Commerce from Victoria University of Wellington; his LinkedIn profile also shows Victoria University of Wellington attendance from 2004 to 2006.
Important qualification: the available evidence supports Percival as a finance/operations professional associated with Pencarrow, not as a named investment partner or angel investor. Founder outreach should likely go to Pencarrow’s current investment team rather than to Percival personally.
Investment Thesis & Focus
- Pencarrow states that it “partner[s] with founders and successful management teams of established New Zealand companies to help execute their growth strategies.”
- The firm looks for businesses with “a track-record of positive cash earnings and the potential for further growth.”
- Pencarrow targets New Zealand mid-market businesses, typically with enterprise values of NZ$20 million to NZ$150 million.
- The firm can take minority or majority positions and says it uses flexible investment structures.
- Pencarrow’s current fund focus is the NZ$300 million Pencarrow VI Fund, targeting established New Zealand businesses focused on growth and positive cash earnings.
- Pencarrow’s sector expertise includes technology-enabled services, branded consumer products, technology, healthcare, and financial services.
- The firm emphasizes active management and operational excellence rather than relying on excessive leverage.
- New Zealand Private Capital lists Pencarrow’s stage focus as MBO, MBI, late-stage expansion, or replacement capital.
Notable Investments
- Tend: Hybrid primary healthcare provider combining in-person clinics and virtual consultations; Pencarrow and Ahuahu Group joined as strategic investors in September 2025.
- Pet Direct: Online retailer of pet food, health products, toys, and accessories; announced a multimillion-dollar investment from Pencarrow in February 2024.
- Pacific Clinical Research Network: Clinical-trial site management organisation; merged with Momentum Clinical Research in 2025 to form a larger Australia-New Zealand clinical-trial network.
- The Interiors Group: New Zealand specialist flooring and window-furnishings provider operating Carpet Court, CurtainStudio, and The Floor Store.
- The Collective: Gourmet yoghurt and related-products company with New Zealand and United Kingdom operations.
- Netlogix: Technology-enabled freight logistics company connecting freight carriers with customer freight demand.
- Essano: Natural skincare and haircare producer; later acquired by Vitality Brands in 2024 according to Pencarrow-linked news summaries.
- MMC: Outsourced investment-administration services provider in New Zealand.
- Icebreaker: Premium merino outdoor activewear company; one of Pencarrow’s cited historical successes.
- Seequent: Geological-data visualisation and interpretation software company; listed by Pencarrow and New Zealand Private Capital as a historical success.
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