Gresham Partners’ private equity arm will spend about $200 million to buy-out six family-owned transport and logistics businesses. The funds will
Gresham Partners’ private equity arm will spend about $200 million to buy-out six family-owned transport and logistics businesses.
The funds will come from a combination of debt and equity, with the company planning on consolidating the six businesses, which will come from across the country, into one entity to be called Silk Logistics.
A spokeswoman for the Sydney-based Gresham Partners declined to name the six companies that are to be purchased, saying only an announcement will be made next week.
Gresham Partners is owned by Wesfarmers, and it is not certain whether Silk Logistics will service Wesfarmers-owned companies such as Bunnings and Coles.
Gresham private equity chief Roy McKelvie says consolidating the six companies under the one name will offer a more efficient and comprehensive service to the group’s clients.
Former BP logistics chief Bob Welsh will helm the new group.