Apax Funds complete acquisition of NextGen Security from Dunes Point Capital

9th September 2026

Funds advised by Apax Partners LLP ("Apax") today announced that they have completed the acquisition of NextGen Security ("NextGen" or "the Company"), a leading provider of essential security systems integration services focused on complex end markets across the United States and Canada, from Dunes Point Capital, LP ("DPC"). Financial terms of the transaction were not disclosed.

Founded in 2012 and headquartered in Exton, Pennsylvania, NextGen designs, installs, services, and maintains integrated security systems that keep people, buildings, and operations safe. Its solutions span video management, access control, and intrusion detection, delivered from eight branches to customers in end markets including utilities, healthcare, education, and government.

NextGen operates in a large, growing, and highly fragmented market with attractive and resilient demand drivers, including rising system complexity supported by the adoption of AI-enabled technology and a heightened focus on physical security. The Company has grown organically well ahead of the market, underpinned by a well-developed go-to-market motion focused on customers with complex security needs, and is well-positioned to continue gaining share both organically and through acquisition.

During its investment period, DPC helped NextGen expand its capabilities, grow its salesforce and broaden its customer base to grow from a regional service provider to a national leader within the industry. With support from the Apax Funds, NextGen intends to accelerate its growth by continuing to invest in its salesforce, expanding its presence in high-growth end markets such as data centers, and building out its national accounts program to deepen touchpoints with multi-site customers. The Company also intends to pursue selective acquisitions to expand its geographic footprint.

Frank Brewer, Co-Founder and Chief Executive Officer, at NextGen Security, said: "NextGen has grown by staying close to our customers and hiring the best people in our industry, and that is what this next chapter is about. We chose to partner with Apax because they are backing the team that built this business. The management team is retaining a significant shareholding, and I remain the Company's largest individual shareholder, so our interests are fully aligned around NextGen's long-term success. With that support behind us, we can do more for our customers and create more opportunities for our people."

Nedu Ottih, Partner at Apax, said: "The market for security system integration services is resilient and growing, underpinned by the need to protect people, property, and assets. NextGen has built a strong reputation for technical expertise and service quality, backed by a talented, founder-led team. It is an established market leader with a clear runway to build on its platform, and we look forward to supporting Frank and the team through the Company's next phase of growth."

William Blair & Company and Raymond James served as financial advisors to NextGen, and Polsinelli served as legal advisor. Kirkland & Ellis LLP served as lead legal counsel and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as financing counsel to Apax.