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NextGen Growth Partners
We partner with experienced operators and entrepreneurs to offer business owners an operational succession plan alongside a financial exit. One of our...
NextGen Growth Partners
We partner with experienced operators and entrepreneurs to offer business owners an operational succession plan alongside a financial exit. One of our Entrepreneurs in Residence takes a full time leadership role within each business we acquire and is committed to growing it for the long-term. This allows us to provide business owners a way to transition out of daily management responsibilities and know their legacy is going to be preserved and nurtured to further prosperity. We acquire businesses out of a committed fund, so there is no risk in our ability to close. Our team includes highly experienced entrepreneurs, operators and investors focused on long-term growth. Please visit our website at https://nextgengp.com to learn more.
General information
Firm type
Private Equity
Year founded
2016
Location
Region
North America
Country
United States
City
Chicago
Corporate office
320 S. Canal St. Suite 2800, Chicago, IL 60606, United States
Principals
Brian O'Connor
Partner
Rich Herrick
Partner
Eric Wilson
Partner
Victor Saad
Partner
Mike Eisinger
Partner
Mark Agnew
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at NextGen Growth Partners?
The firm is led by a partner group that includes Brian O'Connor, Rich Herrick, Eric Wilson, Victor Saad, Mike Eisinger, and Mark Agnew. Investment decisions are made collaboratively by the partners, supported by a bench of CEOs-in-Residence who source and diligence potential acquisitions. The CIRs are responsible for finding qualified prospects and ultimately stepping into the CEO role of any company the firm acquires.
How does NextGen source proprietary deal flow?
Deal flow is driven primarily by the firm's CEOs-in-Residence, who are employed to search full-time for founder-owned businesses that fit the firm's criteria. This operator-led origination model means sourcing happens at the ground level — through direct outreach to business owners — rather than through auctions or intermediaries. The CIRs are incentivized to find a company, negotiate the deal, and then run it post-close.
What investment stages and company profiles does NextGen target?
NextGen targets lower middle-market companies with $5M–$50M in revenue and at least $2M in EBITDA. The firm looks for businesses that are proven but not fully scaled, with loyal customers, mission-critical demand, and potential for operational improvement and add-on acquisitions. It specifically avoids venture-stage risk, focusing on established, often founder- or family-owned businesses facing a succession or growth transition.
Which sectors does NextGen Growth Partners focus on?
The firm concentrates on mission-critical B2B services where relationships and recurring revenue drive long-term value. Sector emphasis includes facilities services (landscaping, plumbing, HVAC, waste management), niche contracting and infrastructure support, professional and technical services (compliance, safety, training), and business process services. These sectors share traits such as recurring demand and fragmented supplier bases.
Does NextGen participate in fund commitments or only direct deals?
NextGen invests directly into operating companies using capital from a committed fund structure. The firm does not market itself as a fund-of-funds or as a limited partner in other managers. Its capital is drawn from investors who provide flexible, committed pools that allow the firm to close deals with certainty, with all equity available at closing.
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