TM INSIGHT has announced the acquisition of private Australian private supply chain consultancy XAct Solutions.

The deal was backed by private equity firm Next Capital.

By joining forces, the businesses expect to enhance their supply chain capabilities and expand further into Asian markets.

“Since our inception, TM Insight has grown to become an innovative force in the supply chain and property industry,” said TM Insight CEO Travis Erridge.

“The acquisition of XAct Solutions marks our next era of expansion, bringing together the expertise and know-how of two leading businesses for the benefit of our customers.”

Founded in 2005, XAct Solutions has a presence across Sydney, Melbourne, Singapore, Ho Chi Minh City (Saigon), Hanoi and Tokyo.

Earlier this year, TM Insight brought on Next Capital as joint shareholders to help the business expand.

Next Capital founding partner John White said they were “delighted to support bringing together the region’s preeminent firms in supply chain, logistics and related property consulting services”.

“Our business model looks to support high quality teams with real competitive advantage, and we see those attributes in these organisations individually and even more powerfully as an integrated group,” Mr White said.

“We look forward to working with all involved to deliver excellent solutions for our customers.”