BDT & MSD Partners is nearing a deal to sell the firm’s majority stake in Marquette Transportation Co. to Redwood Capital Investments, the family office of Jim Davis and Steve Bisciotti, according to Bloomberg News.

Marquette’s founders are set to roll a roughly $100 million equity stake into a transaction that would value the company at about $1 billion, Bloomberg reported. BDT has controlled the Kentucky-based provider of marine towing services since 2015 and has been exploring options for its stake, as reported by Bloomberg.