Austin Ventures-backed transportation management company ReTrans Inc. is up for sale, Reuters reported. The company is reportedly seeing some interest from private equity buyers, Reuters said. Stifel Nicolaus is advising the Memphis, Tennessee-based company on the sale.
(Reuters) – Austin Ventures-backed transportation management company ReTrans Inc is up for sale and is attracting strong interest from private equity firms, two people familiar with the matter told Reuters.
Investment bank Stifel Nicolaus is advising the company on the sale, the sources said.
It was not clear how the company would be valued in a sale, but ReTrans has about $200 million in annual revenue, one of the sources said. The people asked not to be named because the process is not public.
Memphis, Tennessee-based ReTrans is a transportation brokerage company providing trucking and intermodal services.
Austin Ventures, which is active in transportation and logistics, has about $3.9 billion in assets under management.
The firm has been exiting some investments in recent months. Another logistics firm in which it has invested, Newgistics, filed for an initial public offering in March.
Deal activity in the logistics space is heating up as cash-rich companies look to expand into new services and geographies.
Private equity is also very interested in the asset-light transportation companies as they are not capital intensive and have strong free cash flow, analysts said. (Reporting by A. Ananthalakshmi, Soyoung Kim; editing by Gerald E. McCormick)