Between slashing assets and working on major projects, it’s been a busy time for the Stevenson family.
The family’s Stevenson Group has long been a powerhouse, responsible for mining and quarrying – and now infrastructure – primarily throughout the Auckland region. Currently, the group’s largest project is the Drury South Crossing, an $800 million, 361ha business park development. Building on the land, which is situated between the Drury quarry and the Southern Motorway, could start within the year. Desperately needed, it is expected to bring in hundreds of millions of dollars to GDP locally.
Last year the group sold its long-running construction materials business to Fulton Hogan, albeit with a slight blip in proceedings before the deal was done. The Commerce Commission originally investigated the sale, with concerns about Fulton Hogan already owning quarries in Auckland and North Waikato but the issue was resolved when Fulton Hogan left the Huntly quarry out of the acquisition. The move freed up the company to concentrate on the Drury South Crossing. While no sale price was confirmed, estimates put the price of the assets – including the Huntly quarry – at around $300 million.
Another major asset was sold the year before, with the sale of the 36-unit Stevenson Village to HBH Senior Living. The village originally opened in 1975 as a charitable joint venture between the Howick RSA and Sir William and Lady Stevenson, with the aim of providing accommodation to returned servicemen.
The Stevenson family’s business history stretches back to 1912, where the first foray into business was made through the efforts of William Stevenson and his sons William and Jim. As the company itself puts it, they set out “hungry for work and armed with their picks and shovels, a few wheelbarrows, and a Model-T Ford.” W Stevens & Sons was created five years later, and family members have worked in the group ever since.
David and Phillip Stevenson are members of the group’s board, both having grown up around the family business. Phillip has experience in the agriculture, building and quarrying divisions, and was appointed general manager of readymix concrete operations in the 1990s. David has been a director since 1995, and has spent time at management and board level in the group’s quarrying, mining and agricultural divisions.
The family is also behind the Stevenson Foundation, a charity that was set up by Sir William and Lady Ruby Stevenson in 1961. The organisation focuses primarily on the Auckland region, and particularly South Auckland. Among other causes, it provides funding and grants to the Auckland University Medical School, the Auckland War Memorial Museum and the Auckland Rescue Helicopter Trust.
2018: $300 million