TNT Crane & Rigging has asked JPMorgan Chase to run the auction, said Reuters, citing three people familiar with the matter. A deal could value the business at eight times its EBITDA of $100m.
Odyssey acquired TNT for an undisclosed amount from London-based private equity firm MML Capital Partners in November 2011.
MML bought the company in 2007 and helped it grow through four add-on acquisitions, tripling the size of its fleet and expanding its geographic reach.
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