(Bloomberg) -- Macquarie Group Ltd. is exploring a sale of Centerline Logistics, a provider of marine petroleum transportation services, according to people with knowledge of the matter.
The Australian firm is working with Evercore Inc. to solicit interest from potential suitors including pension funds and infrastructure-focused investment firms, some of the people said. Centerline could fetch about $600 million, including debt, in a sale, the people said.
Macquarie and Evercore representatives declined to comment. A spokeswoman for Seattle-based Centerline didn't immediately respond to a request for comment.
Led by Chief Executive Officer Matt Godden, Centerline has operations in New York Harbor and along the U.S. West Coast and Gulf Coast. Its services include transporting and storing petroleum products, as well as refueling and escorting ships, its website shows. Among its customers are BP Plc, Exxon Mobil Corp., Glencore Plc and Sunoco LP. Prior to 2020, Centerline operated as Harley Marine Logistics, and traces its roots to 1987, when it was known as Olympic Tug & Barge, its website shows.
Logistics assets have remained in favor amid global supply-chain issues. PSA International Pte, a global port group, this week agreed to acquire BDP International Inc., a logistics provider, from New York-based private equity firm Greenbriar Equity Group LP.
Read more: Oaktree, American Industrial Said to Mull Sale of Rand Logistics
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