General Atlantic, the US private equity firm, has backed the $1.2bn (€904m) management buyout of a logistics company and called in three Wall Street heavyweights to help finance the deal.

Houston-based EGL Eagle Global Logistics has received a buyout offer from its chief executive and chairman James Crane, the company's largest shareholder with an 18% stake, and General Atlantic. The offer for $36 per share is a premium of 21% over the last closing price.