Who is Peppermint Capital?
Peppermint Capital is a private equity firm based in Australia.
Peppermint Capital
- Type
- private equity firm
- Headquarters
- Australia
- Website
- peppermintcapital.com.au
- Company page
How they work
Peppermint Capital is a Sydney-headquartered, founder-led principal investor (established 2007 by Gavin Nicholas) that acquires, grows and divests private mid-sized Australian businesses valued between AU$1m and AU$10m enterprise value. It partners with business owners, family offices and, on occasion, local or international listed entities seeking mandated acquisitions, across an industry-agnostic mandate.
Peppermint's team identifies acquisition opportunities through industry research, its own networks and direct approaches, then assesses and values the business before preparing an offer and developing a deal structure. It positions the business for sale, assists in negotiations with potential acquirers, and can introduce debt or equity institutions where needed. Due diligence and project management follow, including oversight of the legal and accounting professionals involved — whether the transaction is self-initiated or run under mandate for a local or international listed company. Public materials do not describe a diligence checklist, transaction timetable, or stage-by-stage process from initial approach through to close. Sellers can reach Peppermint through the contact details published on its own website.
- Sector focus
- Industry-agnostic / generalist mandate: 'not sector specific, with a focus on established well run businesses where there is potential for synergies and / or significant growth and improvement.' Past deal types span healthcare distribution, medical equipment services, facilities maintenance, manufacturing, HVAC, IT managed services, media, OH&S software and industrial supply.
- Geography
- Australia. Offices in Sydney and Perth; a London office is maintained for international mandates, but target businesses are described throughout as Australian.
- Ownership
- Flexible, deal-dependent principal-investor style: acts as an equity partner (structuring deals to suit each shareholder, including a 'full exit, or an opportunity to unlock part of their shareholding') on smaller businesses building toward a 2-5 year exit, or as an unpaid advisory/exit partner taking no equity stake on businesses that have already reached critical mass. Backs incentivised management with 'skin in the game.'
- Majority or minority
- No fixed majority/minority stated; explicitly flexible per transaction, ranging from full-exit acquisitions and equity-partner stakes ('full or partial capital release') to purely advisory engagements with no equity taken at all.
- Platform or bolt-on
- Platform-style buy-and-build: backs a platform business and its growth strategy, with 'potential smaller bolt on acquisitions in the sector also considered on an ad hoc basis' to build critical mass ahead of exit.
- Enterprise value
- AU$1m - AU$10m enterprise value.
- Capital model
- Principal-investor model backed by its own shareholders and funding partners (including family offices), not a traditional fixed-life LP fund; also executes mandated acquisitions on behalf of local and international listed entities.
- Hold period
- Typically 2-5 years (2-5 year horizon for the equity-partner track; 3-5 year time frame described on the Private Equity Australia page) before exit, usually via trade sale to a larger trade or listed acquirer.
- Founder ownership
- Founder-led: established in 2007 by Gavin Nicholas (Chartered Accountant; formerly PwC and a partner at London mid-market PE firm Invex Capital), who remains part of the current management team alongside John Groppoli and Huey Liew.
Sources
- peppermintcapital.com.au · portfolio page
- peppermintcapital.com.au · website
- peppermintcapital.com.au · research
- peppermintcapital.com.au · research
- peppermintcapital.com.au · research
- peppermintcapital.com.au · research
- peppermintcapital.com.au · research
- peppermintcapital.com.au · research
- peppermintcapital.com.au · research
Approached by Peppermint Capital? Talk to someone who has no reason to tell you anything but the truth.