Singapore Post’s Australian fourth-party logistics business is understood to be the draw for big names as the group calls for final bids for its $1bn Australian business sale by the end of next month, sources say.
EFM, part of the Freight Management Holdings operation, offers supply chain management services and does not have the capital spending requirements other parts of the business have. Border Express is considered less of an attraction, as is the case with the other business that is part of the offering, CouriersPlease.
In the final stretch of the race are private equity firms BGH Capital, advised by Jefferies; Pacific Equity Partners, advised by Macquarie Capital; and Blackstone with Goldman Sachs. So far Blackstone is shaping up as the frontrunner, sources say.
Freight Management Holdings and CouriersPlease are being sold through Bank of America. The businesses generate about $120m of annual EBITDA. FMH is a diversified logistics holding company with fourth-party logistics and warehousing, transportation and technology divisions.
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