Now, Street Talk can reveal Next Capital has agreed to sell the defence division of Eptec to Washington-based private equity firm Arlington Capital Partners for around $150 million on an enterprise value basis, reflecting a multiple of about eight times earnings.
MA Moelis Australia advised Next Capital. Arlington Capital Partners was self-advised. The Eptec carve-out comes just months after its dealmakers ruled off their seventh fund (ACP VII) at $US6 billion ($8.44 billion).
Of note, Street Talk last spotted Arlington on these shores in 2023 when the buyout firm, which focuses on government-regulated industries like defence, aerospace, and healthcare, was among parties circling the country’s largest shipbuilder Austal. Korean conglomerate Hanwha has since bought a 19.9 per cent stake in the ASX-listed company.
