Neovia Logistics Is Said to Work With Financial Adviser on Sale - EcoFinBiz Blog

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Neovia Logistics Is Said to Work With Financial Adviser on Sale

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(Bloomberg) -- Neovia Logistics Services LLC, a supply chain manager co-owned by Goldman Sachs Group Inc.’s private equity arm, is exploring a sale, according to people familiar with the matter.

The Irving, Texas-based company is working with financial advisers to gauge interest from potential buyers, said the people, who asked to not be identified because the matter isn’t public. Other private equity firms are likely to consider bidding, the people said.

No final decision has been made and Neovia may choose not to proceed with a sale, they said.

Goldman Sachs and European buyout firm Rhone Capital acquired Neovia in 2015 from Platinum Equity. The deal was worth more than $1 billion, including debt, according to reports at the time.

A representative for Goldman Sachs declined to comment. Rhone Capital and Neovia didn’t immediately respond to requests for comment.

A former division of Caterpillar Inc., Neovia helps providers of replacement parts for cars, airplanes and industrial machines to get their products to equipment dealers and other customers, according to its website. It offers warehousing, inventory management, distribution and other logistics services.

To contact the reporters on this story: Ed Hammond in New York at ehammond12@bloomberg.net;Kiel Porter in New York at kporter17@bloomberg.net

To contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, Matthew Monks, Michael Hytha

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