French shipping and transit company Geodis SA is near a deal to pay close to $800 million for U.S. contract shipping provider Logistics, LLC in what would be the latest in a string of logistics tie-ups this year, people familiar with the deal said.

Private equity firms Welsh, Carson, Anderson & Stowe and Hyde Park Holdings LLC are selling the U.S. logistics company. The rise of e-commerce has increased companies’ demand for shipping, making logistics companies more valuable. Private equity firms have recently been cashing in on that trend.

The price in this deal represents a multiple of about 10 times Ozburn-Hessey Logistics’ $80 million of annual earnings, the people said.

The deal is slated to be announced in the coming weeks according to a person familiar with the matter. The people asked not to be named because the deliberations were private.

Geodis and Ozburn-Hessey Logistics did not immediately respond to requests for comment. Neither of the New York-based private equity firms responded to requests for comment.