Funds advised by Apax Partners have completed the acquisition of NextGen Security, a provider of security systems integration services across the US and Canada, from Dunes Point Capital. Founded in 2012 and headquartered in Exton, Pennsylvania, NextGen designs, installs, services and maintains integrated security systems spanning video management, access control and intrusion detection. The company operates from eight branches serving customers in utilities, healthcare, education and government end markets.

Under Dunes Point Capital's ownership, NextGen grew from a regional service provider into a national industry leader. The firm helped expand NextGen's capabilities, grow its salesforce and broaden its customer base. With Apax's backing, NextGen intends to accelerate growth by continuing to invest in its salesforce, expanding into high-growth end markets such as data centers, and building out its national accounts program. The company also plans to pursue selective acquisitions to expand its geographic footprint.

"The market for security system integration services is resilient and growing, underpinned by the need to protect people, property, and assets," said Nedu Ottih, partner at Apax. "Next Gen has built a strong reputation for technical expertise and service quality, backed by a talented, founder-led team." William Blair & Company and Raymond James served as financial advisors and Polsinelli as legal advisor to NextGen. Kirkland & Ellis served as lead legal counsel and Paul Weiss Rifkind Wharton & Garrison served as financing counsel to Apax. Terms were undisclosed.