Direct Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Direct Capital has invested in 4 companies.

Direct Capital’s most common sectors for investment arebusiness services (20%) and manufacturing (9%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (60%) and growth capital (27%). In total, Direct Capital has invested in 2 different countries. Its largest (disclosed) acquisition occurred in 1998 when it acquired Tasman Building Products for $7M.

In the last 3 years, Direct Capital has exited 1 company. The Firm’s most common exit type is secondary buyout (23%). Direct Capital’s largest (disclosed) exit occurred in 2001 when it sold Tasman Building Products for $117M.

Join Mergr to view Direct Capital’s full profile and discover more middle-market private equity firm investors just like it.

M&A Summary

  • M&A Total Activity63
    • M&A Buy Activity45
    • M&A Sell Activity18
  • Total Sectors Invested 24
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 3

Direct Capital

Direct Capital

Level 4, 2 Kitchener Street,
Auckland,
New Zealand
+64 9 307 2562
www.directcapital.co.nz
dcm@directcapital.co.nz

Direct Capital is a private investment firm focused on private equity and venture capital investments in Australia and New Zealand. Direct Capital's later stage investment area looks to commit NZ$20 to NZ$80 million in companies with revenues up to NZ$300 million. Target sectors include retail, food, consumer products, healthcare services, distribution, life science, and manufacturing. Prospective transaction situations include successions, management buyouts, expansions, acquisitions, and pre-IPO placements. Direct Capital was formed in 1994 and is based in Auckland, New Zealand.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Business Services, Consumer Products, Consumer Services, Distribution, E-Commerce, Food, Healthcare Services, Life Science, Manufacturing, Packaging, Real Estate, Retail, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: Australia/New Zealand

Transaction Criteria Min Max
Target Revenue 30 300
Target EBITDA - -
Investment Size 20 80
Enterprise Value - -
values in millions of NZD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.2/yr) # 39 2 - 1 1 2 45
vol $7M $7M
Sell (0.2/yr) # 17 - - 1 - - 18
vol $122M $122M
  63

Most Recent M&A

Company Date Value Type
Active Refrigeration Group 2024-11-19 - Growth Capital
, New Zealand · www.activerefrigeration.co.nz
Wet & Forget 2024-04-23 - Growth Capital
, New Zealand · www.wetandforget.co.nz
POP International Holdings Pty Ltd. 2023-04-17 - Growth Capital
Sydney, Australia · www.pop.insure
Mondiale VGL Pty Ltd. 2022-08-05 - Growth Capital
Banksmeadow, Australia · www.mondialevgl.com
PF Olsen Group Ltd. 2022-06-10 - Stake Sale
Rotorua, New Zealand · www.pfolsen.com
TR Group Ltd. 2020-07-07 - Growth Capital
Auckland, New Zealand · www.trgroup.co.nz
Caci New Zealand 2020-06-26 - Growth Capital
Auckland, Australia · www.caci.co.nz
Beca Corp. Holdings Ltd. 2019-02-21 - Growth Capital
Auckland, New Zealand · www.beca.com
Qestral Corporation Ltd. 2019-02-15 - Growth Capital
Christchurch, New Zealand · www.qestral.co.nz
Exact Radiology Practice Pty Ltd. 2018-12-04 - Growth Capital
Chapel Hill, Australia · www.exactradiology.com.au
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Business Services 2 (17%) - 9 (20%) -
Manufacturing 1 (8%) - 4 (9%) -
Consumer Services 2 (17%) - 3 (7%) -
Healthcare Services 1 (8%) - 3 (7%) -
Transportation 2 (17%) - 3 (7%) -
Apparel/Textiles 1 (8%) - 2 (4%) -
Consumer Products 1 (8%) - 2 (4%) -
Engineering - - 2 (4%) -
Retail - - 2 (4%) -
Building Materials - - 1 (2%) 7M (100%)
Beverages - - 1 (2%) -
Chemicals - - 1 (2%) -
Communications - - 1 (2%) -
E-Commerce - - 1 (2%) -
Food - - 1 (2%) -
Gaming - - 1 (2%) -
Information Technology - - 1 (2%) -
Insurance 1 (8%) - 1 (2%) -
Life Science - - 1 (2%) -
Media - - 1 (2%) -
Medical Products - - 1 (2%) -
Packaging - - 1 (2%) -
Real Estate 1 (8%) - 1 (2%) -
Software - - 1 (2%) -
Total 12 - 45 $7M

Acquisitions By Geo

State/Country Current # Value All-time # Value
New Zealand 8 (67%) - 37 (82%) 7M (100%)
Australia 4 (33%) - 8 (18%) -
Domestic 8 (67%) - 37 (82%) 7M (100%)
Cross-border 4 (33%) - 8 (18%) -
Total 12 - 45 $7M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 3 (25%) - 27 (60%) 7M (100%)
Growth Capital 9 (75%) - 12 (27%) -
Stake Purchase - - 6 (13%) -
Total 12 - 45 $7M

Exits by Deal Type

Type Total # Value
Secondary Sale 6 (33%) 117M (96%)
Trade Sale 6 (33%) 5M (4%)
IPO 2 (11%) -
Stake Sale 2 (11%) -
Recapitalization 1 (6%) -
Sold to Management 1 (6%) -
Total 18 $122M

Deal Values

buy # Total
< $100M 1 $7M
TOTAL $7M
Largest Tasman Building Products Ltd.
$7M (1998-04-01)
sell # Total
$100M to $1B 1 $117M
< $100M 1 $5M
TOTAL $122M
Largest Tasman Building Products Ltd.
$117M (2001-09-01)

M&A Connections

Deals
Exited to
Investor(s)
28%
5 (28%)
Strategic(s)
11%
2 (11%)

Investor Summary

Investor Type

Private Equity Firm

Size

Middle-Market

PE Assets

1.7B NZD

Established

1994

Specialist/Generalist

Generalist

Leadership

Ross George

Founder & Managing Director

Mark Hutton

Founding Director & Non-Executive Director

Gavin Lonergan

Director

Heath Kerr

Director

Hugh Cotterill

Director

FAQ

When was Direct Capital founded?

Direct Capital was founded in 1994.

What type of investor is Direct Capital?

Direct Capital is a private equity firm.

Where is Direct Capital headquartered?

Direct Capital is headquartered in Auckland, New Zealand.

How much capital does Direct Capital have under management?

Direct Capital has 1.7B NZD under management.

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