Equity Mates: What We Can Learn From The Private Equity Playbook with Zac Midalia

In this episode of Equity Mates, Zac Midalia, Head of Private Equity, shares his journey into investing and explains how Alceon partners with founders to build high-growth Australian businesses.

Growing up in a family of entrepreneurs and learning under some of Australia’s most respected investors — alongside time at global powerhouse 3G Capital in the US — Zac developed a hands-on, ownership-driven approach to private equity. Today, he applies those lessons at Alceon, focusing on the lower mid-market where founder-led companies have the greatest potential to scale.

Zac explains why private equity has outperformed public markets, why Alceon targets partnership investments rather than full buyouts, and how alignment — from co-investing alongside founders to empowering management teams — sits at the centre of Alceon’s strategy.

He also walks through Alceon’s business-building playbook, including digital transformation, bolt-on acquisitions and succession planning, and shares real examples such as Boss Engineering and Efex IT Services, where founder partnerships have helped accelerate growth and expand nationally.

The conversation offers a rare inside look at how Alceon works with entrepreneurs, what Zac looks for in great founders, and how long-term partnerships help turn strong mid-market companies into enduring Australian success stories.