Omers Private Equity is considering an initial public offering of Kenan Advantage Group, one of North America’s biggest tank truck transporter and logistics providers, according to a report by Bloomberg.
The report cites unnamed people with knowledge of the matter as revealing that Omers is discussing a US listing which could raise around $400m, giving the company a valuation of around $3.3bn.
Discussions are still ongoing with a final decision yet to be made. Omers may yet opt to keep Keenan private or pursue other options for the company.
According to data compiled by Bloomberg, Kenan, which is led by CEO Charlie DeLacey, has roughly $1.5bn in outstanding debt. The company delivers energy commodities, food, merchant gases and specialty products across the US, Canada and Mexico.
