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Simon Firm Set to Buy Freight Company

November 05, 1996|Times Staff and Wire Reports

International Logistics Ltd., a cargo mover headed by the Los Angeles investment firm William E. Simon & Sons, today is expected to announce the purchase of LEP North America, a freight carrier based in Marietta, Ga., people familiar with the transaction told The Times. The price could not be determined. Logistics firms move mostly corporate cargo. International Logistics, whose owners also include the money management firm Oaktree Capital Management, is expected to receive a minority interest in LEP's British parent, LEP International Worldwide, the sources said. International Logistics, which bought the mover Bekins Co. in May, had said it planned to use mergers to grow; LEP is expected to lift its annual revenue to more than $700 million, sources said.

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