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Australia's AMP buys U.S. logistics group from Carlyle

09 October 2017 3:39 AM
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Australia's AMP buys U.S. logistics group from Carlyle

SYDNEY, Oct 9 (Reuters) - Australia'sAMP Capital has bought U.S. logistics group ITS ConGlobal from Carlyle Infrastructure Partners, marking the Australian fund manager's largest-ever North American deal.

AMP did not provide a deal value in its statement on Monday, but a source familiar with the transaction told Reuters the acquisition was worth more than $500 million.

AMP, which last year raised $2.4 billion for infrastructure investments, will look at further mid-sized acquisitions in the sector, according to the statement.

"Sectors that we are continuing to focus on in North America include transportation, energy and communications where there is an exciting pipeline of deals," AMP Capital's head of Americas Infrastructure Equity, Dylan Foo, said in the statement.

A Carlyle spokesperson was not immediately available for comment. The private equity firm had acquired ITS Technologies & Logistics LLC in 2008.

Source: nasdaq.com

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