Calder Stewart marked its 70th anniversary on Thursday with 500 current and former staff, and others, celebrating at the company’s headquarters just north of Milton. The New Zealand Herald reported there were scenic helicopter rides and New Zealand country star Kaylee Bell entertained the crowd.
Calder Stewart director of property Ben Stewart said the celebration was about marking a milestone with its team and setting the foundation for the next 70 years.
Founded in 1955 in Milton by Bruce Stewart and Lance Calder, the privately owned firm has grown from a small rural builder into one of the country’s largest vertically integrated property and construction groups.
The company has remained low-profile, working away on projects with a minimum of fuss.
Ben Stewart said the celebration was not about selling the company or changing direction, rather it was business as usual.
Over the past three years, Calder Stewart has completed more than $1.5billion in infrastructure developments across the country, spanning logistics hubs, manufacturing facilities and civic buildings for clients including Fonterra, KiwiRail and regional councils.
The company remained privately owned by the Stewart family and was focused on sustainable long-term growth, Mr Stewart said.
“We’re expanding our operations into renewable energy, forestry and capital markets. As a private family business, we have the agility to pursue opportunities that deliver long-term value for New Zealand’s economy.”
The company was thinking outside the square in finding new power projects.
Calder Stewart executive director Alan Stewart said the company “had lidar [light detection and ranging] deployed across multiple sites to analyse wind opportunities, plus a mast deployed at Awarua for 18 months to accurately model what’s there. This is an extension of our property business including rooftop solar as standard”.
“It’s also part of our strategy to create ‘energy precincts’ — areas where we’re bringing generation at the same time new occupiers bring demand.”
Alan Stewart, who is of the second generation of the family, said the company’s growth remained rooted in the same principles established seven decades ago.
“My father and Lance were genuine entrepreneurs who took calculated risks and backed their people. That spirit still drives us. We’ve always believed in investing for the long term in our communities, our people and the infrastructure that keeps New Zealand moving.”
The company had received strong interest from both wholesale and institutional investors who wanted to partner with the company and be involved with its activities. That shared funding and ideas had started in 2019 and was continuing.
“We are looking to partner and create value with like-minded investors for industrial development projects. It’s a natural evolution of our business.”
The company also has a private cycle trail which runs through its land near Milton and connects with the wider Otago network, including the Clutha Gold and Roxburgh Gorge trails.
“It’s something we’ve developed to give back to the community and showcase the region’s beauty,” Alan Stewart said.
The company is planning an $3b inland port in Milburn and launched it earlier this year.
Ben Stewart said the company was encouraged by the interest shown in the port project.
“The Millburn inland port-freight hub is progressing well, and we have considerable interest from occupiers who recognise the strength of the location and connectivity.
“We see this project as a long-term intergenerational strategic play with significant private capital investment in regional supply chain capacity which will play a major role in supporting South Island exports.”
