Next Capital II is managed by Sydney based Next Capital Management Pty Ltd.

Next Capital Management (www.nextcapital.com.au) was established in 2005 by Sandy Lockhart, Patrick Elliott and John White, who were former principals of Macquarie Bank’s private equity arm, Macquarie Direct Investment Limited (MDI).

MDI raised and invested four private equity funds with the founders of Next Capital delivering top quartile returns across the MDI investments in which they were involved.

Having completed 39 investments and 24 exits across more than 20 years of investing the executive team at Next Capital represent one of the most commercially experienced managers in the Australian market.

Examples of the executive team’s previous investments while at MDI include;

- JB Hi-Fi, acquired by MDI in July 2000 for $42 million and subsequently listed on the ASX in October 2003 at an enterprise value of $175 million delivering an internal rate of return (IRR) on the investment of 88% p.a. and 6.5 times equity capital invested.

- InvoCare, acquired by MDI in May 2001 and subsequently listed on the ASX in December 2003, raising $172 million, delivered an IRR of 48% p.a. and 2.8 times equity capital invested.

Next Capital II, with a total fund size of $285m, is focussed on investing into small to mid-market expansion and buyout opportunities of profitable, Australian & New Zealand businesses, with enterprise value of between $50 million and $250 million at investment.

Investments completed to date by Next Capital II include Onsite Rental Group and Discovery Holiday Parks.

Onsite Rental Group. During December 2010, Next Capital II invested in Onsite Rental Group to fund its acquisition of Perth based equipment rental business Statewide Equipment Hire.

The Onsite Rental Group is one of Australia’s most experienced national equipment rental companies providing an extensive range of specialist rental products and services across multiple industries and geographies.

The company’s solutions include portable buildings and toilets, power generation, air and pumps, welders and lighting towers, access equipment, event solutions, scaffolding and temporary fencing.

Industries serviced include mining, infrastructure, commercial, Industrial and residential construction, events, logistics, government and public services. Major customers include BHP, Rio Tinto, Fortescue Metals, Thiess, Monadelphous, John Holland, Bilfinger Berger Services and Leighton Contractors.

Discovery Holiday Parks – During December 2010, Next Capital II purchased Discovery Holiday Parks from Allegro Private Equity.

Discovery Holiday Parks is the largest owner and operator of lifestyle holiday parks in Australia, providing a broad range of accommodation to suit any need. Discovery has built a portfolio of 31 parks in strategic locations across Australia; from the Australian outback, to water front locations and within National Parks.

Alliances currently exist with BIG4; Top Tourist and Family Parks to ensure maximum exposure to the Discovery Holiday Parks name as it grows to secure the position as market leader in the accommodation park industry.

The success enjoyed by Discovery Holiday Parks today has been established by developing systems and procedures that streamline the operations, whilst maximising the customer experience and delivery the Discovery Holiday Parks brand values.