(Bloomberg) -- WWEX Group, a third-party logistics provider, tapped underwriters ahead of a potential US initial public offering, according to people with knowledge of the matter.

The timing of a stock sale, set to be led by JPMorgan Chase & Co., hasn’t been finalized, said some of the people, and it’s possible that WWEX may remain closely held or pursue options including a sale. WWEX — which includes the brands Worldwide Express, GlobalTranz and Unishippers — may be valued at more than $5 billion including debt in any transaction, some of the people said.

The company — now owned by private equity firms Ridgemont Equity Partners and Providence Equity Partners, alternative asset manager CVC Capital Partners and growth-focused investor PSG — explored a sale in 2021, Bloomberg News reported at the time. The company has grown since then, in part through a merger with GlobalTranz Enterprises, and currently has at least $1.7 billion in outstanding debt, according to data compiled by Bloomberg. 

Representatives for Dallas-based WWEX, Ridgemont, Providence and PSG didn’t immediately respond to requests for comment. Spokespeople for JPMorgan and CVC declined to comment. 

Founded in 1992, WWEX is led by Chief Executive Officer Tom Madine. The company, which provides United Parcel Service Inc. shipping services to businesses, describes itself as the “largest non-retail UPS authorized reseller in the US.” 

WWEX handles more than 36 million annual shipments and has about $4.9 billion in revenue, its website shows. 

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