02 Sep 2019
Murray & Co acted as lead financial advisor to Next Capital on its acquisition of NZ Bus as announced on 2 September 2019.
Founded in 2005, Next Capital is a leading Australasian private equity investor. NZ Bus represents the final investment of Next Capital’s third fund (of A$256 million). Next Capital has significant bus sector experience, having previously owned Go Bus in NZ and Forest Coach Lines in Sydney.
NZ Bus is the principal bus operator in Auckland, Wellington and Tauranga. The company operates a fleet of approximately 720 buses and employs approximately 1,400 staff.
Murray & Co also arranged debt financing from a syndicate of three banks to support the acquisition. The headline transaction value was NZ$145-165 million.