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Next Wave Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Next Wave Partners has invested in 2 companies.

Next Wave Partners’ most common sectors for investment arebusiness services (22%) and education (15%) . The Firm’s most common investment types include growth capital (72%) and secondary buyout (15%). In total, Next Wave Partners has invested in 2 US states and 4 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired McGraw-Hill Education for $4.5B.

The Firm’s most common exit type is stake purchase (34%).

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M&A Summary

  • M&A Total Activity17
    • M&A Buy Activity14
    • M&A Sell Activity3
  • Total Sectors Invested 9
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 6
  • M&A Advisors 3

Next Wave Partners

Next Wave Partners LLP

87-89 Baker Street,
London, W1U 6RJ
United Kingdom
+44 (0) 20 3005 7535
www.nextwavepartners.co.uk
jb@nextwavepartners.co.uk

Next Wave Partners is a private equity firm focused on lower mid-market management buyouts, carve-outs, and growth capital buy-and-build transactions. Next Wave looks for businesses generating at least £1 million in EBITDA requiring £15 to £75 million of capital. Next Wave prefers companies located in the UK, but will consider opportunities in greater Europe. Next Wave was formed in 2002 and is based in London.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Education, Energy Services and Equipment, Media, Packaging

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Stake Purchase, Add-on Acquisition

Geographic Preferences: United Kingdom

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA 1 -
Investment Size 15 75
Enterprise Value 25 100
values in millions of GBP

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.8/yr) # 10 2 2 - - - 14
vol $25M $4.5B $4.5B
Sell (0.0/yr) # 3 - - - - - 3
  17

Most Recent M&A

Company Date Value Type
Petainer Ltd. 2022-06-28 - Growth Capital
London, United Kingdom · www.petainer.com
Fertility Associates Ltd. 2022-05-11 - Growth Capital
Auckland, New Zealand · www.fertilityassociates.co.nz
The Clearway Group Ltd. 2021-09-06 - Secondary Buyout
London, United Kingdom · www.clearway.co.uk
McGraw-Hill Education, Inc. 2021-06-15 4.5B USD Secondary Buyout
New York City, New York · www.mheducation.com
Pip Studios Ltd. 2020-10-22 - Growth Capital
Wokingham, United Kingdom · www.pipstudios.com
FOX International Group Ltd. 2019-08-02 - Trade Sale
Hainault, United Kingdom · www.foxint.com
SAM Labs, Inc. 2018-10-01 - Growth Capital
Boston, Massachusetts · www.samlabs.com
The Delivery Group Ltd. 2018-06-27 - Sold to Management
Warrington, United Kingdom · www.thedeliverygroup.co
Crendo Property AB 2015-03-01 - Stake Sale
Halmstad, Sweden · www.crendo.se
FOX International Group Ltd. 2014-07-29 - Growth Capital
Hainault, United Kingdom · www.foxint.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
McGraw-Hill Education, Inc. 2021-06-15 Busuu Online SL 2021-11-29 1
New York City, New York · www.mheducation.com Madrid, Spain · www.busuu.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services - - 3 (21%) -
Education 2 (29%) 4.5B (100%) 2 (14%) 4.5B (99%)
Packaging 1 (14%) - 2 (14%) 25M (1%)
Media 2 (29%) - 2 (14%) -
Energy Services and Equipment - - 1 (7%) -
Healthcare Services 1 (14%) - 1 (7%) -
Retail - - 1 (7%) -
Safety/Security 1 (14%) - 1 (7%) -
Transportation - - 1 (7%) -
Total 7 $4.5B 14 $4.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 4 (57%) - 9 (64%) -
United States 2 (29%) 4.5B (100%) 2 (14%) 4.5B (99%)
  New York 1 (14%) 4.5B (100%) 1 (7%) 4.5B (99%)
  Massachusetts 1 (14%) - 1 (7%) -
Sweden - - 2 (14%) 25M (1%)
New Zealand 1 (14%) - 1 (7%) -
Domestic 4 (57%) - 9 (64%) -
Cross-border 3 (43%) 4.5B (100%) 5 (36%) 4.5B (100%)
Total 7 $4.5B 14 $4.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 5 (71%) - 10 (71%) -
Secondary Buyout 2 (29%) 4.5B (100%) 2 (14%) 4.5B (99%)
Divestiture - - 1 (7%) 25M (1%)
Consolidation - - 1 (7%) -
Total 7 $4.5B 14 $4.5B

Exits by Deal Type

Type Total # Value
Sold to Management 1 (33%) -
Stake Sale 1 (33%) -
Trade Sale 1 (33%) -
Total 3 -

Top M&A Advisors

Legal Deals
Macfarlanes
 2
Gateley
 1
Klein wenner
 1

Deal Values

buy # Total
> $1B 1 $4.5B
< $100M 1 $25M
TOTAL $4.5B
Largest McGraw-Hill Education, Inc.
$4.5B (2021-06-15)

M&A Connections

Deals
Acquired from
Investor(s)
14%
2 (14%)
Strategic(s)
7%
1 (7%)
Exited to
Strategic(s)
67%
2 (67%)

Investor Summary

Investor Type

Growth Capital Firm

Size

Small

PE Assets

90M GBP

Established

2007

Specialist/Generalist

Generalist

Leadership

Jonathan Brod

Managing Partner

Dean MacKenzie

Partner

FAQ

When was Next Wave Partners founded?

Next Wave Partners was founded in 2007.

What type of investor is Next Wave Partners?

Next Wave Partners is a growth capital firm.

Where is Next Wave Partners headquartered?

Next Wave Partners is headquartered in London, United Kingdom.

How much capital does Next Wave Partners have under management?

Next Wave Partners has 90M GBP under management.

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