Direct Capital Private Equity

Direct Capital is a private equity firm based in Auckland, established in 1994. Owned and managed by its founding directors, Ross George, Mark Hutton, and Bill Kermode, the firm has grown to include a team of 13 investment professionals with a combined 110 years of experience in private equity. Direct Capital specializes in mid-market investments, focusing on companies in New Zealand and Australia that may not have easy access to the stock market. The firm aims to enhance shareholder wealth in private companies and assists shareholders in unlocking value.

Tony Batterton

Director

Hugh Cotterill

Director

Ross George

Founding / Managing Director

Freddy Greenslade

Associate Director

Chris Hickey

Associate Director

Mark Hutton

Founding Director

Heath Kerr

Investment Director

Gavin Lonergan

Investment Director

Madeline Rogers

Investment Manager

Chris Wills

Analyst

Jonathan Wong

Investment Director

Past deals in Australasia

Hiway Group

Acquisition in 2024
Hiway Group, based in Australasia and the South Pacific, specializes in ground improvement solutions for various clients, including governments, commercial entities, land developers, and main contractors. The company is renowned for its innovative, sustainable, and high-quality services, focusing on soil stabilization and pavement rehabilitation, particularly for road infrastructure. Hiway Group's expertise extends to federal investment projects, such as roads, bridges, mass transit, water infrastructure, and resilience initiatives. They are committed to enhancing road safety and infrastructure resilience through their comprehensive solutions.

Momentum Energy

Venture Round in 2008
Momentum Energy Pty Ltd is an energy retailer based in Melbourne, Australia, specializing in the retail of electricity and natural gas to residential and business customers. Established in 2002, the company operates primarily in Victoria, New South Wales, South Australia, and Queensland. It provides electricity retail services to the Bass Strait Islands, acting on behalf of Hydro Tasmania, which is the largest renewable energy generator in Australia. Momentum Energy is a subsidiary of the Hydro-Electric Corporation, further enhancing its commitment to sustainable energy solutions.

Ryman Healthcare

Ryman Healthcare Limited is a company that develops, owns, and operates integrated retirement villages and aged-care facilities in New Zealand and Australia. Established in 1984 and headquartered in Christchurch, the company provides a diverse range of living and care options for the elderly, including independent townhouses, serviced apartments, and comprehensive care services such as rest homes and hospitals. Its facilities are designed to foster community and well-being, featuring amenities such as lounges, swimming pools, gyms, beauty salons, and movie theatres. Ryman Healthcare generates income primarily through aged care fees, management fees from retirement units, development margins from new units, and capital gains from reselling units when residents vacate. The company is dedicated to enhancing the quality of life for its residents while ensuring a supportive environment for aging individuals.

New Zealand Pharmaceuticals

New Zealand Pharmaceuticals Limited is a manufacturer specializing in pharmaceutical intermediates and diagnostic products for the pharmaceutical and biotechnology sectors. The company produces a diverse range of offerings, including dietary supplements, carbohydrates, microbiological and cell culture media, and various pharmaceutical ingredients such as cholic acid, heparin, and natural taurine. Additionally, it extracts and purifies biochemicals from meat processing by-products, ensuring high-quality production through its in-house laboratories. New Zealand Pharmaceuticals exports its products both domestically and internationally, also providing an online sales platform. Established in 1953 and headquartered in Palmerston North, New Zealand, the company operates as a subsidiary of Industria Chimica Emiliana S.r.l.

Max Fashions

Max Fashions Limited is a fashion retailer based in Auckland, New Zealand, specializing in women's clothing and accessories. Founded in 1986, the company provides a diverse range of products, including dresses, tunics, tops, knitwear, jackets, coats, pants, skirts, and footwear, as well as various accessories. Max Fashions operates both physical retail outlets and an online store, making its offerings accessible to a wide audience. As of October 2018, it functions as a subsidiary of Barkers Clothing Limited. The company is committed to creating timeless, high-quality apparel that caters to women's fashion needs.

Go Bus

Go Bus Limited is a transportation company based in Hamilton, New Zealand, established in 2003. It specializes in providing a wide range of coach and bus services, including urban public transport, school bus services, and charter bus hire. The company caters to various needs, offering mobility services for rest homes, special events, school trips, sports excursions, cultural exchanges, work functions, and airport transfers. Additionally, Go Bus provides special needs transport services and has a selection of fully seated vehicles available for different passenger capacities. The company also engages in the sale of bus vehicles. As of 2020, Go Bus operates as a subsidiary of AATS Group.

Energyworks

EnergyWorks Limited specializes in construction and project management services for the oil and gas, power generation, petrochemical, and food industries. Founded in 1972 and based in New Plymouth, New Zealand, the company provides a range of services including project planning, procurement, cost control, and offsite fabrication. EnergyWorks is involved in constructing and maintaining wellhead piping, gathering pipelines, production facilities, and export pipelines. It also offers mechanical support for power generation projects, including maintenance and upgrades for gas turbine and hydro power stations. Additionally, the company manufactures and installs high-pressure equipment and piping systems for dairy factories and food manufacturing plants. EnergyWorks was previously known as Inglewood Engineering Limited until it rebranded in 2005.

Qestral Corporation

Qestral Corporation specializes in the development and operation of modern retirement villages, aiming to provide retirees with comfortable and stylish living environments that promote health and well-being. The company offers a range of accommodations, including architecturally designed stand-alone houses, serviced apartments, and extensive care facilities such as rest homes, hospital care units, and dedicated dementia facilities. In addition to housing, Qestral's villages feature recreational amenities and landscaped areas, including man-made lakes, enhancing the overall quality of life for residents. Established in 2012 and based in Christchurch, New Zealand, Qestral Corporation is dedicated to creating supportive communities that cater to the needs of the elderly.
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