In September 2019 Next Capital acquired NZ Bus, a leading urban bus operator in New Zealand with over 700 buses across 13 depots. NZ Bus provides its services to key urban centres of New Zealand, specifically Auckland, Wellington and Tauranga. Nearly all of NZ Bus’s revenue comes from stable, long-term contracts with local governments. There are a range of growth opportunities available to NZ Bus, primarily driven by strong underlying growth in public transportation patronage throughout New Zealand’s urban centres.

Investment highlights include:

• New Zealand’s leading public transport operator
• Diversified, long-term contracted revenue base
• A well-invested asset base with strategic portfolio of depots
• Ability to leverage Next Capital’s previous experience and network in the Australasian bus sector
• Significant organic growth underpinned by favourable industry dynamics
• Ability to invest in the electrification of New Zealand’s public transportation sector