Caterpillar Considering Logistics Unit Sale

Caterpillar Inc. said it considering selling part of its logistics business.

The company said it has hired Bank of America Merrill Lynch and Robert W. Baird & Co. to evaluate options for Caterpillar Logistics Services, a subsidiary that provides warehousing and parts distribution for Caterpillar and about 50 other customers, mostly in the automotive, industrial and technology sectors.

Caterpillar Logistics is ranked No. 3 on the Transport Topics Logistics 50 listing of logistics companies, with estimated net revenue of $2.3 billion.