Eclipx Group Limited (ASX:ECX) is understood to have held talks with private equity firms including KKR & Co. Inc. (NYSE:KKR), The Carlyle Group Inc. (NasdaqGS:CG) and Apollo Global Management, Inc. (NYSE:APO) in recent weeks about a buyout. The news comes as Julian Russell exits as chief executive of the $537 million business, with Damien Berrell his replacement.

Russell, a former UBS investment banker who advised Eclipx on former corporate activity, will provide advice to the company until September 2023 after stepping down on February 1, 2023 and sources believe he will work to find a buyer for the business.