Lower middle market private equity firm (CEO in Residence model)
NextGen Growth Partners
- HeadquartersChicago, IL S1
- Founded2016 S2
- Websitenextgengp.com
- Last verifiedNovember 2, 2026
At a glance
| Latest fund | NextGen Growth Partners Fund III, $165M (Aug 2024) S6 |
|---|---|
| EBITDA range | $2M to $8M S1 |
| Revenue range | $5M to $50M S1 |
| Deal types | Platform, Add-on S3 |
| Geography | United States S3 |
| Sectors | IT Services & MSP, Property Management & HOA, Landscaping, HVAC, Plumbing & Electrical, Construction Services |
What NextGen Growth Partners buys
NextGen Growth Partners (NGP) is a Chicago private equity firm, founded in 2016 with a second office in Austin, that buys founder- and family-owned business services companies. Each deal is led by a CEO in Residence: an executive the firm recruits to search for a company alongside its deal team, who then takes over as full-time CEO after closing. NGP likes essential B2B services with repeat demand, especially facilities work such as landscaping, plumbing, HVAC and environmental services, specialty contracting and maintenance, compliance and technical services, and outsourced back-office work.
For a new platform it wants a US company with $5 million to $50 million of revenue and $2 million to $8 million or more of EBITDA, and it buys control. Deals are paid for from Fund III, a $165 million fund closed in August 2024. Add-ons have no minimum size, and the firm says it will still talk with owners under $2 million of EBITDA, so a small landscaping, plumbing or IT services company could join Sunrise Landscape, Plumbing & Drain Professionals or ROBO.
Recent deals
Announced in the 24 months before November 2, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Mar 2026 | HOA Accounting ServicesSale of a national HOA accounting, financial management and insurance services provider in a deal backed by NGP; the release does not say whether it is a new platform or an add-on | Investment | Property Management & HOA | Source |
| Apr 2025 | DAWGS (Door and Window Guard Systems)Vacant property security business sold to The Riverside Company; the first exit from Fund II | Exit | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S4.
Our Companies
- Robo6K (ROBO)
- Computers Made Easy
- QNS
- Sunrise Landscape
- WCL&L
- Texas EcoGrow
- Morris Heating & Cooling
- Plumbing & Drain Professionals
- JEA (Juda, Eskew & Associates)
- Premiere Property Services
- TriStar Building Services
- JMG Marketing
- PMP
Past investments: MHW, Record Connect, ConData, DAWGS
Greymont’s take
How NextGen Growth Partners fits a seller
NGP fits an owner who is ready to hand day-to-day leadership to someone new. In most deals a CEO in Residence recruited by the firm becomes the chief executive, so the biggest question is often who will run the company and how the handover works, not just the price. The firm says it makes changes slowly, offers transition plans so a founder can leave on their own schedule, and aims to deliver a letter of intent within 21 days once it has the information it needs. Its current holdings are local service companies, from landscapers in Florida and Texas to IT providers in Austin and Central Illinois. Owners should ask to meet the proposed CEO early, whether they can keep a stake, and how long NGP expects to hold the business; its 2025 DAWGS exit was a sale to The Riverside Company, another private equity firm.
Questions owners ask
Does NextGen Growth Partners buy IT managed service providers?
Yes. Its current holdings include ROBO, an Austin IT managed service provider founded in 2007, Computers Made Easy, which was added to ROBO, and QNS, a Central Illinois firm that provides IT services to K-12 schools across the Midwest.
What size company does NextGen Growth Partners look for?
For a new platform, a US company with $5 million to $50 million of revenue and roughly $2 million to $8 million or more of EBITDA. Add-ons to its existing companies have no size requirement, and it says it will still talk with owners below $2 million of EBITDA.
Who runs the business after NextGen Growth Partners buys it?
Usually a CEO in Residence recruited by the firm, who helps find the company and then becomes its full-time CEO after closing, backed by NGP's deal team and advisors. The firm says it offers transition plans so the founder can step away when ready.
Does NextGen Growth Partners work with businesses that serve HOAs?
Yes. It owns JEA, a Florida firm that has provided accounting and financial services to condominium and homeowner associations since 1984, and in March 2026 it backed the purchase of HOA Accounting Services, a national HOA accounting provider.
Sources
- S1NextGen Growth Partners home page (focus areas and size criteria) Accessed November 2, 2026
- S2NextGen Growth Partners: About Accessed November 2, 2026
- S3NextGen Growth Partners: Intermediaries and Referrals (investment criteria) Accessed November 2, 2026
- S4NextGen Growth Partners: Portfolio Accessed November 2, 2026
- S5NextGen Growth Partners: Media and News Accessed November 2, 2026
- S6NextGen Growth Partners Closes Oversubscribed Fund III at $165M Hard Cap (August 15, 2024) Accessed November 2, 2026
- S7NextGen Growth Partners Announces Successful Exit from DAWGS (April 7, 2025) Accessed November 2, 2026
- S8CAM Advisors Serves as Exclusive Sell-Side Advisor to HOA Accounting Services (PR Newswire, March 10, 2026) Accessed November 2, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with NextGen Growth Partners. Figures are as reported on the dates shown and may have changed. Request a correction