Novo Tellus joins RCF, NRFC in Russell Mineral Equipment buyout

  • Novo Tellus Capital Partners closed a private investment in Russell Mineral Equipment, alongside Resource Capital Funds and Australia’s National Reconstruction Fund Corporation.
  • RME is a Toowoomba, Queensland-based supplier of mill relining systems and aftermarket services for mining and mineral processing operations.
  • The deal completed RME’s transitional sale agreement, finalizing the ownership succession plan initiated by founder Dr John Russell.
  • RME has operated for four decades, serving 440+ mine sites across 64 countries through 13 sales and service centers, with more than 450 employees.
  • The investment closed in June 2026, positioning RME to expand automation capability and grow its global aftermarket services footprint.


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