(Bloomberg) -- Private equity firm ATL Partners is considering a possible sale of Global Critical Logistics, which provides freight forwarding and logistics to live entertainment events such as music tours, people familiar with the matter said.
The buyout firm is in the early stages of working with an adviser to prepare for a potential exit, the people said. It could start a sale process as soon as the first half of next year, the people said, asking not to be identified because the information is private.
Global Critical Logistics, which is likely to attract other industry players as well as investment firms, could be valued at more than $1 billion based on the multiples of recent deals, according to the people.
Deliberations are still preliminary, and details of the potential transaction could change or ATL could decide to keep the business for longer, the people said. Representatives for ATL and Global Critical Logistics declined to comment.
The review comes as deal activity in the transportation and logistics sector is heating up with a more stable freight market following the pandemic. RXO Inc. agreed in June to acquire Coyote Logistics from United Parcel Service Inc. Supply-chain services provider GXO Logistics Inc. is exploring a sale, Bloomberg News reported in October.
Global Critical Logistics owns specialty transportation companies including Rock-It Cargo, a music and entertainment industry freight forwarder, and Dietl, which specializes in logistics for fine arts. The company has offices in the US, UK, China, Germany, Japan, Central and South America, the Middle East and Australia, according to its website.
--With assistance from Gillian Tan.
©2024 Bloomberg L.P.