Jun 24, 2026 – 6.18pmWhile Sydneysiders’ thoughts are turning to hot European summers, mid-market private equity player Next Capital is squarely focused on lining up a juicy exit in the second half.Hot off trading the defence division of its engineering contractor Eptec to Washington-based private equity firm Arlington Capital Partners, Street Talk understands the firm is weighing options for its stake in TMX Transform, a global supply chain, property and project management consultancy that makes $77 million at the revenue line. Brands such as Kmart, Australia Post, Honda and Coles work with TMX.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Next Capital weighs options for supply chain consultancy TMX
Street Talk understands the private equity firm is laying the groundwork for a second-half process and has had talks with MA Moelis.
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