Hg Said to Kick Off $1 Billion Sale of Telematics Firm Trackunit

Buyout firm Hg is kicking off a sale of Danish telematics firm Trackunit, according to people familiar with the matter.

Hg is working with an adviser as it starts gauging interest in the company from potential bidders, the people said, asking not to be identified because the information is private. Trackunit, which focuses on the off-highway vehicle market, could be valued at as much as $1 billion in any transaction, according to the people.