* Three sources say DHL seeking to sell Exel Direct unit
* Unit could be sold for about $100 million - source
* E-commerce has driven growth in "last-mile" delivery
By A. Ananthalakshmi and Matthias Inverardi
Jan 30 Deutsche Post's DHL is
considering selling its "last-mile" delivery unit in the United
States, a service used by retailers to deliver bulky products to
consumers, three sources familiar with the matter told Reuters.
DHL could sell its Exel Direct unit, part of its Exel supply
chain in the United States, for about $100 million, one of the
three sources said.
A Deutsche Post spokesman declined to comment. The sources
spoke on condition of anonymity because they are not authorized
to speak publicly on the matter.
The rise of e-commerce has led to a boom in "last-mile"
delivery services, used by retailers like Amazon.com Inc
to deliver televisions, furniture and other large
products that might require installation in a customer's home.
Exel Direct's customers include retailers Williams-Sonoma
Inc, Sears Holdings Corp and Office Depot Inc
, according to its website.
Exel Direct also declined to comment. The unit's annual
revenue is about $150 million and earnings before interest,
taxation, depreciation and amortization (EBITDA) is less than
$10 million, two of the three sources said.
One of the sources said boutique investment bank Finnea
Group was advising on the sale. Finnea did not respond to
requests for comment.
Birmingham, Michigan-based Finnea advised DHL in the sale of
another Exel unit to Hub Group in 2011.