Street Talk
Cashing in: Macquarie-backed Next Payments to consider exit options
Cash is no longer king. Street Talk understands Macquarie Capital is looking to exit its investment in payments business Next Payments after a decade of ownership as the use of cash declines across the economy.
The firm’s venture capital arm became a major investor in 2013, acquiring 47 per cent of the company. Founder Tim Wildash controls 43 per cent, and the rest sits with private investors. Sources said a sale of 100 per cent of the business would be on the table, with Wildash ready to move on and looking for an adviser.
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. Email Sarah at sarah.thompson@afr.com
Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
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