• Deal could be announced by end of March
• Lanter’s 2024 EBITDA was north of USD 100m

Audax Private Equity is closing in on a deal to acquire Lanter Delivery Systems, an Equity Group Investments (EGI)-backed overnight delivery services provider, said three sources familiar with the situation.

A deal could be announced by the end of March, one of the sources said. Lanter’s 2024 EBITDA was north of USD 100m, according to the same source.

EGI invested in Lanter in 2019. This news service reported in December that St Louis-based Lanter was in the midst of a sale process, with Harris Williams and JPMorgan advising. At the time, sources said Lanter could fetch a low double-digit multiple in the event of a sale.

Lanter handles the overnight transportation of critical parts for auto, agricultural, and heavy trucking original equipment manufacturers [OEMs], among other manufacturing and industrial customers.

Audax Private Equity and EGI declined to comment. Lanter, JPMorgan, and Harris Williams did not return requests for comment.