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Following the success of the GoBus investment, Next Capital acquired NZ Bus, the leading urban bus operator in New Zealand with over 700 buses across 13 depots. NZ Bus provides 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.

NZ Bus was sold to Kinetic in August 2022.

In August 2018, Next Capital completed an investment in iseek Communications (“iseek”), a Brisbane based independent data storage provider. iseek specialises in data centre, cloud and managed connectivity services and, at the time of acquisition, operated three data centres (two in QLD and one in NSW) servicing a diversified group of enterprise, government and hyperscale customers. During Next’s ownership, the business opened two additional greenfield facilities to be imminently developed to help service the growing industry demand for outsourced data storage solutions.

iSeek was sold to a financial buyer in July 2021.

In January 2018 Next Capital completed the acquisition of Noisette Bakery (“Noisette”), a Melbourne based artisanal commercial bakery and then acquired the Sydney based Brasserie Breads (“Brasserie”) six months later. The combined business is Australia’s largest wholesale artisanal baker, supplying customers throughout Victoria, New South Wales and Queensland. The group has a unique baking and production process, allowing it to provide quality artisanal product across 250 SKUs fresh baked daily to a customer base that is highly diversified, including cafes, restaurants, hotels, food service and independent supermarkets.

The business was sold to a trade buyer in July 2024.

Next Capital completed the acquisition of a controlling interest in Funlab in December 2016. Funlab, better known for its Strike Bowling and Holey Moley brands, creates, develops and operates out-of-home entertainment and leisure venues. The Business services in excess of three million customers per annum, across three concepts and 17 locations on Australia’s eastern seaboard.  During the period of Next’s ownership, the business grew earnings by five times; launching several new concept brands and establishing operations in New Zealand and Singapore.

FunLab was sold to a financial investor in March 2021.

In November 2015, Next Capital completed an investment in Lynch Group, Australia’s largest wholesaler of floral and potted products. Lynch is a 3rd generation business which has been in operation for almost 100 years. The business originally began as a flower grower and moved into the flower distribution segment in 1984.

Lynch operates as a high value-add wholesaler to customers in key growing end markets, namely the mass-market retail channel, which is seen to be outpacing the growth of the broader floral sector. Lynch has also established an industry leading floral propagation and growing facility in Kunming, China, which grows high quality produce at a material cost advantage to local supply.

Lynch was successfully listed on the ASX in April 2021 and remains Australia’s largest grower and distributor of fresh cut flowers.

In December 2014, Next Capital completed an investment in Infinite Care. Infinite Care was established in partnership with an experienced management team to build a business in the Australian residential aged care market.

Infinite’s seed assets include five high performing facilities in South Australia (totalling 380 beds) and 250 licenses in South East Queensland. Infinite established regional clusters of facilities under strong asset-level and corporate management.

Infinite was sold to a financial investor in October 2017 and continues to build industry leading aged care facilities across the country.

In July 2013, a consortium led by Next Capital acquired a controlling interest in Scottish Pacific (“ScotPac”). ScotPac is Australasia’s largest non-bank debtor finance provider, offering financial products including factoring, invoice discounting and import trade finance to Small and Medium-sized Enterprises for whom traditional banking facilities are either unavailable or uneconomic.
Next Capital successfully completed the IPO of ScotPac in July 2016 and the business remains Australia’s premier debtor finance provider.

In September 2011, Next Capital backed incumbent management in the buyout of Aero-Care, Australia’s largest independent provider of outsourced airport flight support services, including customer service, check-in, baggage handling, ramp handling and ancillary services. It services major domestic and international airlines at numerous ports across Australia, typically under long term contracts.

Aero-Care was sold to a financial investor in July 2014 and is now part of the Swissport Group.

In December 2010, Next Capital led the recapitalisation of the Discovery, one of the largest owners and operators of caravan parks in Australia. Discovery was in financial distress as a result of an aggressive acquisition strategy that was heavily reliant on bank debt. The recapitalisation resulted in Next Capital becoming the largest individual shareholder in the business. During Next’s ownership, the business delivered compound annual EBITDA increases of approximately 50% with limited incremental external capital required and a balanced approach to risk.
Next Capital completed the sale to a financial investor in February 2014 and the business has continued to grow organically and through acquisition to be one of Australia’s largest tourism accommodation operators, known as the G’Day Group.

Vitaco is an Australasian based manufacturer, distributor and marketer of highly recognisable and innovative Sports Nutrition, Vitamins & Supplements and Health Food & Beverages brands. Vitaco also has a well-established and growing international business with a focus on Asia, the Middle East and Latin America. Vitaco was established in 2007 following the merger of Healtheries and Nutra-life.
Vitaco was successfully listed on the ASX in September 2015 and was subsequently taken private in December 2016 by a Chinese based consortium comprising Shanghai Pharmaceutical Holdings and Primavera Capital.

In May 2012, Next Capital acquired a material interest in GoBus, an operator of urban, school and charter bus services throughout New Zealand, with leading market positions in four of the six largest public transport markets (Hamilton, Napier, Tauranga and Christchurch). During the period of Next Capital’s ownership, the business grew through the acquisition and integration of a number of regional bus operations to be the second largest operator in the New Zealand market.

Go-Bus was sold to a financial buyer in September 2014 and was subsequentially sold to Kinetic who is one of the world’s largest operators of public transport services across three continents.