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U.S. private equity firm Platinum Equity is considering a sale of logistics firm Livingston International amid growing investor appetite in the sector, according to people familiar with the matter.
Livingston, Canada’s largest customs broker, may attract interest from other investment funds, the people said, asking not to be identified because the matter is private. A transaction could value the Toronto-based company at $1 billion or more, the people said.
Founded in 1945, Livingston is an international trade-services firm specializing in customs brokerage, freight forwarding and trade consulting, according to its website. Platinum bought the business from Sterling Partners and Canada Pension Plan Investment Board in 2019.
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No final decisions have been made, and there’s no certainty the deliberations will lead to a transaction. Representatives for Platinum and Livingston declined to comment.
Los Angeles-based Platinum, led by founder Tom Gores, has about $36 billion in assets under management. Gores has a net worth of $8.1 billion, according to the Bloomberg Billionaires Index.
— Written by Vinicy Chan, Manuel Baigorri and Kiel Porter