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.
Scroll over sector images to see relevant sub-sectors
Cable & Telecom
Animal Health and Agriculture
Biotech and Life Sciences
Travel & Leisure
Waste Mgmt. & Recycling
Consumer & Retail
eCommerce (B2C and B2B)
Machinery & Robotics
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 100 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.
Investments – Current
Acusensus is an Intelligent Traffic Solutions (ITS) technology (“RegTech”) company that designs, develops, and commercialises camera technology focussed on the detection, capture and referral of motorists using mobile phones illegally whilst driving.
Having proven this technology in the world's first live enforcement camera program to detect drivers illegally using phones while behind the wheel in New South Wales, Acusensus has successfully won the QLD distracted driving contract and been approaching markets in other Australian states and globally to adopt this new road safety approach.
The solution has been expanded to also provide detection and enforcement of speeding vehicles (fixed and mobile), seatbelt non-compliance, and license plate-based enforcement such as unregistered vehicle detection (ANPR).
Founded in 2018, Acusensus is headquartered in Melbourne (Victoria) and has a leading management team in the sector, with over 100 years of combined industry experience and a strong track record of designing and delivering innovative solutions and camera programs globally.
Gresham Capital Partners completed a minority investment in Acusensus in June 2021.
Advanced Cosmeceuticals is the #1 distributor of cosmeceutical skincare products (pharmaceutical grade cosmetics) and aesthetic medical devices in Australia and New Zealand. It operates predominantly in the medical cosmetics (cosmeceutical) and aesthetics sector – a sub sector of the broader beauty and personal care market – providing both skin products and devices to specialist practitioners to provide skin services to end customers.
The Company has long-term exclusive agreements with leading global brands and maintains the largest clinic distribution network in the country, with a broad customer base of specialist skin clinics, dermatologists, plastic surgeons, and beauty salons, as well as a selection of online retailers.
The Company was founded in 2006 and is headquartered in Perth, Western Australia.
Gresham Capital Partners completed a control investment in Advanced Cosmeceuticals in July 2021.
Investments – Realised
BCI Media Group (BCI) is the leading pre-construction information platform in the Asia-Pacific region with a nationwide presence in the US. It provides industry participants with comprehensive and accurate project leads data and software solutions on a subscription basis (SaaS).
Founded in 1998, BCI is headquartered in Sydney and operates across 14 markets (ANZ, Southeast Asia and the US). It employs over 300 researchers globally and currently reports on over 800,000 active building projects.
BCI has established #1 market positions in all its markets (excl. US) with an industry-leading senior management team that has been with the business for over 10 years. The Company is headquartered in Sydney (New South Wales) and employs over 738 FTEs.
Gresham Capital Partners completed a co-control investment in BCI in December 2019. Under GCP’s co-ownership, BCI has completed three bolt-on acquisitions (see below), grown EBITDA by 43%, and exceeded budgets in each financial year despite the impact of COVID-19.
GCP sold the business in August 2021 to Byggfakta Group – the European market leader in construction technology with presence in 10 European countries.
BCI Bolt-On Acquisitions
Since investing in BCI, the GCP team has supported BCI’s management team in a range of bolt-on acquisitions:
BuildCentral was acquired by BCI in December 2019. BuildCentral develops and markets subscription-based database products that help suppliers and vendors in the construction industry find new opportunities and customers. The Company has a nationwide presence in the US with a strong focus on four specific verticals, namely commercial construction, medical, hospitality and multi-family.
TenderSearch was acquired by BCI in September 2020. TenderSearch is one of Australia’s leading tender notification, bid management and e-procurement solutions provider. Since its inception, TenderSearch has helped thousands of companies find success in selling products and services to Federal, State and Local Governments, and private organisations throughout Australia and New Zealand.
Planned Grocery was acquired by BCI in January 2021. Planned Grocery is a fully integrated data and software development company focused on the geo-spatial needs of the construction industry. It helps developers and other real estate professionals with the demographic information and location data for site section and competition monitoring.
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