Next Capital Pty Limited is an independent Australian private equity firm headquartered in Sydney. Founded in 2005 by former Macquarie Bank executives Patrick Elliott, Sandy Lockhart, and John White, the firm specializes in buyouts and growth capital for mid-market companies, typically with enterprise values between AUD 50 million and AUD 200 million.
Next Capital targets profitable businesses across Australia and New Zealand in sectors exhibiting sustained growth, partnering with management to drive operational improvements, strategic expansions, and value creation. The firm has managed multiple funds, including Next Capital Fund V raised in 2022 with AUD 374-375 million in commitments, and has completed nearly 100 investments since its partners' involvement began in 1988.
In the chemical and environmental services space, Next Capital held a controlling stake in Enviropacific Services, a remediation specialist focused on soil, contaminated waste, and PFAS treatment, which it recently sold to Veolia for approximately AUD 220 million enterprise value.
