Corporate advisory firm Canterbury Partners waits on market signals to see if Silk will be carved up
By Rob McKay | May 8, 2013
The sale process for Silk Logistics Group is underway, corporate advisory firm Canterbury Partners has confirmed.
Market speculation surfaced recently that there is more than one interested buyer and that a sale of some sort was expected to be finalised late in the calendar year.
“There are multiple parties that will be interested in some or all of the Silk businesses,” Canterbury Director Mike Symons says.
“The market will tell us whether there is an appetite for the group as a whole or whether certain parts are more attractive to certain buyers.”
Symons tells ATN that the Canterbury was secured three months ago and that a memorandum on Silk had been released to interested parties in the past week.
Canterbury Partners is an experienced operator in transport and logistics mergers and acquisitions.
The boutique firm was involved in McAleese Transport’s purchase of International Energy Services, the sale of Patrick Shipping and Tasmanian Freight Forwarding to the Chas Kelly consortium, the sale of FCL Interstate Transport Services to Linfox Group, the sale of Link Logistics to Kuehne + Nagel and the sale of Gluck to Toll Holdings.
It has also been part of other shareholding transactions in McAleese and Gluck.
Silk Chairman John Clifford has refused to comment in any way and Silk’s owner, Gresham Private Equity, did not return ATN’s call.