‘We’ve done everything we can to find the right buyer’: Pacific Helmets changes hands

David and Marion Bennett have sold Whanganui business Pacific Helmets, but the factory, technology and staff aren’t going anywhere.

American personal protective equipment (PPE) manufacturer Lakeland Industries is the new owner.

“There were all sorts
of reasons the company had to stay here, obviously for the staff and the economy in Whanganui,” David Bennett said.

“The helmets have international accreditation to safety standards, and that accreditation relates to the site where they’re made and the systems that surround that site.

“That site is on Head Road.”

Bennett said Lakeland would own the Pacific brand and sell helmets through an extra 30 offices, in addition to Pacific’s existing sales distributors “in a whole lot of countries”.

“Our staff are an essential part of the manufacturing here, and we’ve done everything we can to find the right buyer,” he said.

“What we didn’t want was an equity buyer of an investment company that had nothing to do with the industry.”

Pacific Helmets currently had around 100 different shell shapes, Bennett said.

It had been “an interesting journey” to get there.

The roots of the company started in the late 1970s when he worked for the late Rod Coleman at Suzuki New Zealand.

“Colemans could import any number of Suzuki motorcycles, but couldn’t buy helmets because they were a protected import,” he said.

“We were selling 15,000 motorcycles a year but could only bring in 300 helmets.

“So, we built a helmet factory, and I was given the job of finding a way to set the helmet company up.”

In 1982, the couple bought the factory outright.

A major development came two years later when David got a phone call from Marion, who was in Australia.

“She asked if I knew that the [New Zealand] Fire Brigade had put out a tender for new helmets. I didn’t,” David said.

“We had to build a fire helmet in one month, and we won the tender in early 1985.”

Another tender was won in 1988 – this time for the London Fire Brigade.

“We delivered 5000 helmets in two months, and that was the start of the internationalisation of the sales,” he said.

There were presently around 70 staff on-site at any one time, but that could grow to 100 if needed, he said.

Staff numbers increased in 1993 and 1994, just before cycle helmets became compulsory in New Zealand.

“There were five teams doing cycle helmets alone. Our factory worked 24/7 for four months.

“We started making bike helmets in 1986 and were involved in a trust that helped get helmets on school kids’ heads.”

Pacific Helmets now caters for a variety of safety requirements, including in the firefighting, rescue and paramedic sectors and for all-terrain vehicles.

Marion worked at the company until 2005.

“She was in the office right from the very early days and, in the weeks I wasn’t there, she was representing me,” David said.

“We’ve also had three other partners over the years, but we had to buy them all out. One thing we learned was to try to do it all ourselves.

“You might think making a helmet is a simple process, but it’s much more than that. The variety of helmets and design details are incredibly complex.”

That was another reason it was important for the factory to stay in Whanganui, he said.

“All of those skills are here – in the systems, in the equipment and in the brains of the people that know how to make them.”

Selling up had been on the cards for a while, but before Lakeland Industries, there hadn’t been many “serious suitors” wanting to buy the company, Bennett said.

Lakeland Industries bought Pacific Helmets for around US$8.5 million gross – subject to enterprise value and working capital adjustments.

In a statement, Lakeland Industries executive chairman Jim Jenkins said Pacific was a global brand with a well-established reputation for quality and innovative fire and rescue helmet design and manufacturing in the growing market for safety helmets for first responders.

“Pacific has a broad range of helmet models, styles and certifications, and they have demonstrated the ability to develop new products and sell successfully around the world.”

Jenkins said the acquisition significantly expanded Lakeland’s fire product offerings and enhanced its geographic reach in Australia and New Zealand.

Bennett said if required, the Whanganui factory could increase capacity by almost double.

“[Lakeland] have got penetration into a whole lot of countries where we’ve never been able to get good representation.

“If they were to double their helmets, they could well increase their staff by 50 per cent or something similar to get the product out the door.

“That depends on orders, of course. We don’t carry helmets in stock – we build them to individual order, and every helmet is different.”

The Bennetts intend to remain in Whanganui.

“You get to a point in your life where you say, ‘Well, I’m not going to be carted out of the office on a gurney if I can help it’,” David said.

“We’ve got a big garden and a new house to set up. We’ll do some charity work as well.

“There are still 24 hours in every day, and we’ve got to fill that.”

Mike Tweed is an assistant news director and multi-media journalist at the Whanganui Chronicle. Since starting in March 2020, he has dabbled in everything from sport to music. At present, his focus is local government, primarily Whanganui District Council.