Gold Coast companies to watch in 2022: Australian Venue Co, PWR Holdings, iVvy and more target growth in coming year
These are the Gold Coast’s best and brightest companies who have survived and defied the curse of Covid and prospered.ASX-listing is on the cards for at least two. Here’s what else they have in their sights for 2022
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They’re taking on the world in their sectors – and winning.
These are the Gold Coast’s best and brightest companies which have survived and defied the curse of Covid and prospered.
ASX-listing is on the cards for at least two of these companies, which employ thousands of locals and plough millions into the Gold Coast’s economy.
Among the success stories is Australian Venue Co, chaired by former Mantra Group boss Bob East, who put it together after selling the hotel group to Accor for $1.2bn in 2018.
Mr East said AVC, which has expanded from 30 pubs to 175 and is shopping for more, was already a larger proposition than Mantra.
The group launched the Kurrawa Beach Club and has similar pop-up venues in Melbourne.
Mr East said the company would look at an initial public offering “when markets settle”.
“That’s something we’ll look at when we have a clearer line of sight on how Covid’s panning out,” he said.
“It’s certainly bigger and growing faster than Mantra.
“I’m really excited by the growth of the company – in Queensland alone we have more than 30 pubs being renovated – our team has been really good at going into pubs and turning them around.”
AVC is backed by US private equity firm Kohlberg Kravis Roberts and operates venues across Australia.
The company is not alone on the Coast in its growth trajectory – here are some of the other local success stories prepping for a bright 2022:
PWR Holdings
The share price of this Ormeau juggernaut started 2021 at $4.40 and has been on a steady climb since, breaking its all-time price high 30 times and touching $10.31 during the year to date.
The gains have propelled the racing and space innovation group from market capitalisation of $44.8m to above $860m.
Some of the biggest benefactors of the company’s rise have been its staff, many of whom bought in at $1.50 when the company floated in 2015.
PWR already has more work than it can handle and is training and recruiting staff to cater for a strong national and global pipeline of cutting-edge work with some of the world’s biggest companies.
iVvy
This cloud-based event and venue management platform is also eyeing an ASX listing in 2022, after growing exponentially since its launch in 2009.
The company’s platform offers its more than 25,000 users the ability to search, compare, book and pay for function spaces, group accommodation and supplies in real time.
Founders Lauren Hall and James Greig have announced their intention to list the company next year, and have appointed seasoned executives Susan Forrester and Craig Kinross to the board.
IVvy has increased 50-100 per cent year-on-year, employs more than 80 staff, and has high-profile clients including Mantra, Telstra and Australian government agencies.
Overachiever Mr Greig also found time to launch his own distillery, Wild Flower Gin, which signed a deal with Dan Murphy’s in 2021.
Pivotel
Southport-based Pivotel has been on the Gold Coast for almost two decades, but its growth has been boosted in the past 12 months by soaring demand for its remote communication solutions.
Its customer numbers increased 12.2 per cent in 2021 as it met demand for worker safety, data, Internet and Internet of Things solutions.
Founded in 2002 by industry veterans Peter Bolger and Robert Sakker after the acquisition of Vodafone’s mobile satellite business, Pivotel is one of just four licensed mobile telecommunications carriers in Australia.
It was named Business of the Year at the 2021 Gold Coast Business Excellence Awards and recently signed a deal to provide Australia-first true broadband coverage for aircraft.
The company has more than 140 employees around the world, including 60 on the Gold Coast.
Australian Venue Co
The three-year-old company, backed by US Private Equity firm KKR, is likely to list on the ASX in the near future.
It has 175 venues nationwide and its Gold Coast venues include the Wallaby Hotel, Burleigh Town Tavern, Coomera Lodge Hotel, Diamonds Tavern Varsity Lakes, Ferry Road Tavern, Hope Island Tavern, Local Tavern in Surfers Paradise and Runaway Bay Tavern.
The Bob East-chaired group pioneered the technology used for pub-meal smartphone table service and is still shopping for more venues in its quest for growth.
Macro Mike
Former bodybuilder Mike Kellett started his health food business three years ago in his one-bedroom apartment.
Macro Mike products, including its peanut butter plant-based protein powder, are now sold in more than 3000 stores across the country.
The company has stocking deals with both Coles and Woolworths and has expanded its range to include mug cakes, cookies, baking mixes and more.
Medical Rescue
Varsity Lakes-based Medical Rescue is a specialist private, aeromedical service that provides remote medical clinics, ambulances, rescue helicopters, fixed wing air ambulance and telemedicine support.
In a decade of business, the company has expanded exponentially, employing more than 300 people and providing medical and evacuation services to organisations such as the Australian Defence Force, US Marine Corps and Australia’s largest renewable energy project – Snowy 2.0, a $35m contract.
In the past year, Medical Rescue has played an integral role in Queensland’s Covid response, facilitating hundreds of thousands of vaccinations and helping to operate the state’s hotel quarantine system.
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