(Bloomberg)—Terra Worldwide Logistics, a closely-held supplier of logistics providers, is exploring a sale amid consolidation within the business, in line with folks acquainted with the matter.
The Atlanta-based firm is working with a monetary adviser on the potential sale, the folks stated, asking to not be recognized as a result of the matter is personal. A transaction might worth the enterprise at about $1 billion, the folks stated.
Different logistics companies and funding funds have expressed preliminary curiosity in buying the enterprise, the folks stated. Issues are ongoing and no remaining resolution has been made, the folks stated.
“We consider completely different options of funding capital every so often,” Terra’s co-founder and Chief Working Officer Jim Briles stated in response to queries from Bloomberg Information. “Our focus is solely how can we serve our clients higher.”
Based in 2019, Terra gives air and ocean freight, in addition to warehousing and distribution and customs brokerage providers, in line with a press launch on its web site. It acquired the belongings of provide chain software program and providers agency American World Logistics in 2020, the discharge confirmed.
Logistics belongings have attracted growing curiosity from world buyers after Covid-19 triggered a surge in on-line procuring. Different corporations exploring a sale embrace Taiwan-based Morrison Specific Corp. and Italy’s Bcube SpA, Bloomberg has reported.
–With help from Jennah Haque.
© 2022 Bloomberg L.P.