Next Capital and Quadrant Private Equity, two of Australia's oldest buyout firms, are close to a deal that would value supply chain consultancy TMX Transform at up to $400 million. Next Capital has agreed to sell a 45% stake to Quadrant Strategic Equity, a $600 million vehicle that reached final close in 2023. The club deal gives TMX fresh capital for expansion, while Next can return money to its investors and keep exposure to future gains. Next had hired MA Moelis earlier this year to find a buyer. TMX made $79.8 million in revenue in the 12 months to June 30, up from $76.9 million a year earlier. Operating profit rose from $4.6 million to $7.1 million. Next bought TMX through its acquisition of supply chain consultancy Xact in late 2020. It has offices in Australia, London, Cincinnati, and Singapore.

TMX Transform, a global supply chain consultancy, has announced strong growth in the Americas, achieving a 122% compound annual growth rate since launching in the region in fiscal year 2024. The company reported 92% year-over-year growth between FY25 and FY26. The consultancy combines former supply chain leaders with advanced simulation capabilities to deliver solutions across retail, consumer packaged goods, postal and parcel, and food and beverage sectors. TMX Transform recently expanded its Americas team by appointing Chris Foreman as Director of Supply Chain and James O'Brien as Director of Project and Property Services. The company has partnered with Hasbro on a 600,000-square-foot distribution centre in Midway, Georgia, consolidating multiple business segments into a single facility to optimise storage utilisation and improve operational efficiency.