Embarq Sells Logistics Subsidiary to KGP Telecommunications
Embarq Corp., Cleveland, OH, has sold its EMBARQ Logistics subsidiary to KGP Telecommunications Inc., according to a release from Vetus Partners.
The logistics subsidiary comprised $0.4 billion, or 7%, of overall revenue for Embarq.
EMBARQ Logistics is a wholesale distributor of equipment, materials and supplies to the telecommunications industry. It serves more than 2,000 customer accounts with more than 140,000 items from seven distribution centers throughout the U.S.
Though it was a "critical component" of EMBARQ's supply chain, the logistics subsidiary was non-core.
Vetus Partners served as financial adviser to Embarq for the transaction.
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