Bidvest Noonan to acquire Nexgen from Bridges.

Bidvest Noonan, a market-leading provider of facilities services, agreed to acquire Nexgen, a consumer services provider, from Bridges, a fund manager that specialises in sustainable and impact investing. Financial terms were not disclosed. “Nexgen is a great example of three key elements of Bridges’ investment strategy. First, we identified a high-quality, impact-driven provider whose focus on ESG and social value would help them become a leader in their market. Second, we were able to support the founders to transition, while building an outstanding senior leadership team. And third, our value creation team has been able to work closely with management to deliver growth, both by implementing significant operational improvements, and by identifying complementary acquisitions that have transformed the breadth and scale of the business. We are proud of the progress Nexgen has made during our partnership, and are confident that Bidvest Noonan is the right partner to enable the business to continue its growth trajectory," James Hurrell, Bridges Partner.