Bayleys grows national Business Sales platform

A maturing wave of business ownership, rising offshore enquiry and a recalibration of capital structures are converging to reshape New Zealand’s business sales market, and Bayleys is moving early to meet it, with a materially expanded national platform and a sharpened strategic offering.

Bayleys Business Sales national director, William Cheong, says the division has entered a new phase of growth, underpinned by targeted talent acquisition, deeper regional coverage, and a pipeline of transactions that speaks to both market complexity and opportunity.

Over the past 12 months, the team has expanded its footprint across key growth regions, appointing hospitality specialist Therese Bailey in Waikato and Lucy Hammond in the Bay of Plenty, while further strengthening its Wellington presence with the addition of Stan Wilson and Mike Redman. The latter both bring extensive financial and advisory experience – with backgrounds spanning banking, insurance and corporate advisory – adding valuable perspective to the sell-side process for business owners.

This builds on an already experienced bench. Hawke’s Bay-based Richard Wilson, a career banker, has been part of the team for some time, alongside Auckland director James Macmillan, who also transitioned from banking to business broking. Within the wider group, Andrew Ricketts and William Cheong bring accounting and M&A expertise, reinforcing a multidisciplinary approach to transactions. In Canterbury, emerging talent, including Blake Fisher, reflects a deliberate focus on building depth for the next cycle.

Cheong says the strategy is intentional – aligning capability where activity is occurring.

“Growth is not confined to major metros,” he says. “We’re seeing a more balanced distribution of opportunity across regional centres and provincial economies, particularly where businesses have strong local ties but national or export-facing potential.”

That expansion comes at a time when macro conditions remain unsettled. Cheong notes that sustained global volatility continues to filter into business confidence.

“New Zealand businesses have endured a challenging period. For many owners, the past few years have been about resilience. Now, we’re seeing a shift – some are choosing to realise value, free up capital, and plan succession rather than continue to absorb ongoing uncertainty.”

That dynamic is particularly pronounced among ageing business owners, a structural trend that is expected to drive transaction volumes over the medium term.

Bayleys Business Sales director – Auckland, James Macmillan says that supply constraints are becoming more evident at the quality end of the market, as a clear shortage of well-run businesses with strong recent trading performance, creates a competitive environment for buyers.

“Quality businesses with proven earnings are in short supply. Where they do come to market, we’re seeing them transact quickly and attract strong levels of interest, often with multiple parties competing.

Another feature of the market is the re-engagement of offshore capital. Bayleys is fielding increasing enquiries through investor migration channels, particularly from the United States, India, and Southeast Asia, as New Zealand’s relative stability and transparent business environment continue to resonate.

“Different buyer groups are approaching the market in distinct ways,” says Cheong. “Western family offices are often seeking minority positions or co-investment opportunities, providing growth capital to established businesses. In contrast, South Asian buyers tend to favour full ownership, particularly across service-based sectors.”

Recent transactions underscore both the breadth of demand and the strength of Bayleys’ network. The more than $11 million sale of a large manufacturing business was generated through an internal referral, highlighting the reach of the firm’s national and international partnerships.

A $4 million security hire business attracted strong investor interest for its intersection of security and technology, while a separate service-sector business was transacted off-market for $2 million – demonstrating the value of discretion in certain segments.

These outcomes reflect Bayleys’ dual-track approach. For businesses typically valued at less than $2 million, the focus is on broad market exposure and competitive tension. For transactions in the $2 million to $50 million range, the firm’s Strategic Transaction Services (STS) division delivers tailored, often off-market campaigns designed to protect value and manage complexity.

“In an increasingly nuanced environment, it’s not just about finding the right buyer – but the right structure, capital partner, and timing,” Cheong says.

With a growing breadth of specialist advisors, integrated national coverage and access to global investor networks, Bayleys Business Sales is positioning itself at the intersection of generational change and capital movement – where the next phase of New Zealand’s business ownership story is already taking shape.