I Squared Capital has emerged as the leading contender to acquire Singapore-based logistics firm Goodpack from KKR, in a transaction that could reach up to $1.5bn, according to a report by the Wall Street Journal.

The Miami-headquartered private equity firm is currently conducting due diligence on Goodpack, which KKR acquired and delisted in 2014 for more than $1bn. Brookfield Asset Management and Apollo Global Management have also reportedly explored bids, though I Squared is now seen as the frontrunner.

Founded in 1980, Goodpack provides reusable intermediate bulk containers for a range of sectors including automotive, chemicals, food, and rubber. Its global footprint spans over 70 countries across Asia, Africa, the Americas, and the Middle East.

If successful, the deal would mark another major logistics investment for I Squared, which has built a strong track record across infrastructure and industrial platforms globally. A final agreement could be reached by the end of November, pending the outcome of due diligence. However, sources noted that no deal is guaranteed.

Source: Wall Street Journal

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