Gresham Capital Partners (GCP) is an Australian principal investor seeking to make investments into Australian and New Zealand based companies with enterprise values (EVs) typically ranging between A$20m and A$200m. GCP is a division of the Gresham Partners (Gresham), the leading independent Australian-owned advisory and funds management business, and brings the significant expertise of the broader Gresham group across M&A, debt and equity advice.
GCP invests across a wide range of transaction types, including growth equity, buyouts, buy-ins, succession, corporate carve-outs, recapitalizations and investments across the capital structure that offer equity or equity-like returns (e.g. debt plus warrants and convertible debt).
We are flexible on investment timeframes and can adopt a wide range of structures, including minority ownership stakes. GCP does not seek to aggressively use debt. In our experience, growth businesses require headroom to expand and the flexibility to take advantage of opportunities as they arise, unencumbered by unsustainable levels of debt.
GCP drives value through creative transaction structuring, thoughtful strategic direction, operational expertise, and deep industry knowledge. The team has more than 20 years’ collective investing experience, with a strong track record of successfully partnering with management teams to grow leading businesses and generate significant returns for investors. Across the team’s history of deal execution, over two thirds (65%) of the value creation has come from EBITDA growth.
GCP’s investor network consists of superannuation funds, High-Net-Worth Individuals (HNWIs), business owners, entrepreneurs, some of Australia’s leading family offices and institutional funds. The Gresham Group directly invests significant equity, delivering a greater alignment with GCP’s investors and the businesses we invest in.
We aim to produce superior returns for our investors through every phase of the investment process — from sourcing, due diligence, operational value creation, to achieving the optimal exit.
At GCP we do not favour any one industry or sector. However, we do have six core business sectors which we believe exhibit attractive fundamentals for our style of investing and where we can leverage our deep expertise and a broad network of relationships.
Cable & Telecom
Travel & Leisure
Waste Mgmt & Recycling
eCommerce (B2C / B2B)
GCP will always have our eye on growth but never at the expense of taking on too much risk. We seek to invest in high quality businesses with downside protection and offer compelling growth and value creation prospects. More specifically, we look for businesses that:
GCP will generally not invest in early stage start-ups, property development, infrastructure, natural resources and public companies, except for public to private transactions.
The GCP model prioritizes smaller, stable businesses that are reliably generating positive earnings, and later stage start-up businesses with a clear and visible path to profitability and proven business model. We leverage our longstanding relationships with operating managers, strategic partners, advisors and market participants to source and develop investment opportunities.
We apply an institutional and well-established diligence process and our extensive experience in evaluating and exploiting opportunities.
GCP works closely with management teams and business owners, bringing experience and capital to maximise the growth and strategic value of companies we invest in. Our approach is to be collaborative, collective and arrive at decisions via consensus. We dedicate a number of investment executives on all our portfolio companies and put in place a lean and responsible board structure.
We seek to align ourselves with our management teams through strong incentive structures, and with our co-investors through material direct investments from Gresham’s balance sheet. Our equity cheques usually range between A$10 to 60 million. The duration of our average investment is usually three to five years but can be flexible in adopting a longer timeframe where appropriate.
The GCP team has significant experience in preparing businesses for exit and brings a successful track record in this regard (average IRR for team members is over 40% on realized investments). Having been on the journey to an exit event many times, we are there to help the Board and shareholders carefully select the timing and method of sale. Our sale experience has included IPOs, trade sales, asset sales and sales to other private equity groups.
Our success lies in our ability to assemble the right team for each investment we support. GCP is able to bring together people with the most relevant sector and transaction experience to generate great ideas and position our portfolio companies for long-term growth. The GCP core team is supported by a pool of 21 executives from Gresham’s M&A advisory business drawn upon on a deal-by-deal basis based on relevant industry knowledge.
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If you’re looking for capital and an active partner to accelerate the growth of your business, or thinking about exiting by bringing in new investors, please contact us by phone or email.
Moritz von Hauenschild
Gresham Capital Partners
Level 17, 167 Macquarie Street
Sydney NSW 2000
Phone: +61 (0) 4 7771 1143