Ridgemont Equity-Backed Worldwide Express Explores Sale

(Bloomberg) -- Worldwide Express, a logistics provider of parcel and freight services, is exploring a sale, according to people with knowledge of the matter.

The company, owned by private equity firm Ridgemont Equity Partners, is working with an adviser to solicit interest from potential suitors, said the people, who requested anonymity because the information isn’t public. Worldwide Express is expected to fetch $1.5 billion or more in a deal, including debt, said one of the people.

A representative for Dallas-based Worldwide Express declined to comment. Representatives for Ridgemont didn’t immediately respond to requests for comment.

Founded in 1992, Worldwide Express is led by Chief Executive Officer Tom Madine and President Rob Rose. The company’s main clients are small and medium-sized businesses, and it services more than 69,000 shipments daily, carried through UPS and other partners, according to its website.

Ridgemont acquired Worldwide Express from affiliates of Quad-C Management in 2017.

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