(Bloomberg) -- Mondiale VGL Pty’s owners are gearing up to kick off a sale of the freight-forwarding firm as soon as September after seeing chances of an initial public offering diminish, people with knowledge of the matter said.
Shareholders are working with advisers including UBS Group AG as they to prepare to gauge interest from potential buyers, according to the people, who asked not to be identified as the information is private. Mondiale could be valued at more than NZ$1 billion ($600 million) in a sale, the people said.
The founders of Mondiale’s predecessor firms, John Sargent and Vittorio Tarchi, own the company along with New Zealand buyout firm Direct Capital and insurance group Accident Compensation Corp. Mondiale may attract other logistics firms as well as private equity funds, one of the people said.
Deliberations are ongoing and the owners could still decide to pursue a public listing of Mondiale or keep the asset for longer, the people said. Representatives for Mondiale and UBS declined to comment, while spokespeople for Direct Capital and ACC didn’t respond to queries.
Mondiale was established through the merger of Mondiale Freight Services Ltd. and Visa Global Logistics Pty in 2021. It operates an integrated, end-to-end business model, providing services including sea and air freight, import and export, wharf transport, customs and warehousing. The company employs more than 1,500 people in over 19 countries, according to its website.
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