FRANKFURT, June 23 (Reuters) - Trans-o-Flex is preparing to
list on the Frankfurt stock exchange as early as September in a
deal that could value the German logistics firm at roughly 1
billion euros ($1.2 billion), people close to the matter said.
The company is working with JPMorgan on the initial
public offering that could see stock worth 300 million euros
sold, three sources said.
"In order to finance our further growth, we are continuously
evaluating possible financing options, including an IPO," a
company spokesperson said.
JPMorgan declined to comment.
Benefiting from a general online shopping trend in the
COVID-19 pandemic that boosted the business of most logistics
firms, Trans-o-Flex last year saw sales increase by 4% to 515
Trans-o-Flex - shorthand for Transportorganisation von
besonderer Flexibilität or transport group with special
flexibility - was founded in 1971 by five logistics
The Weinheim, Germany-based company specialises in transport
services for the pharmaceutical, cosmetics and consumer
After being bought by conglomerate Haniel in 1985 and then
by investors Schoeller and Amberger in 1995, Deutsche Post
attempted a takeover, which was blocked by antitrust
authorities in 1999.
Following years of ownership by private equity firm Odewald
and then Oesterreichische Post, Schoeller and Amberger
bought it back in 2016.
After a restructuring, Trans-o-Flex announced in 2019 that
it had turned its first profit in 10 years. It later said that
it has been profitable since.
($1 = 0.8373 euros)
(Reporting by Arno Schuetze; Editing by Lisa Shumaker)