U.S. Markets close in 4 hrs 46 mins

Apollo Global Acquires Direct ChassisLink & Blume Global

Zacks Equity Research

Funds affiliated with Apollo Global Management, LLC APO is set to acquire Direct ChassisLink, Inc. and Blume Global, Inc. from EQT Infrastructure. The acquisition deal is valued at $2.5 billion including debt, according to Reuters. Notably, EQT Infrastucture will retain a minority stake of 20% in Direct ChassisLink and Blume Global.

The transaction, subject to customary regulatory approvals, is expected to close in the second quarter of 2019.

Direct ChassisLink has grown to become one of the most dominant North American providers of inter-modal chassis. Lack of inter-modal chassis in North America will help the company’s core business to grow significantly. However, inter-modal volumes are highly exposed to international trade in the United States.

Blume Global has developed a broad digital supply-chain platform which provides an insight into the inter-modal supply chain and automated payment processing. This platform facilitates the company’s customers to track shipments and optimize their supply chains end-to-end.

Apollo Global is one of the leading global alternative investment managers. Its asset under management has grown nearly five times in 10 years to $280 billion as of Dec 31, 2018.

The company is determined to enhance its performance by undertaking several strategic initiatives. Recently, it announced a deal to acquire 13 local television stations and three radio stations from Cox Enterprises. Also, Apollo Global’s acquisition spree reflects the company’s strong grip on its capital position.

Shares of Apollo Global have gained 14.6% over the past three months compared to industry's rise of 9.4%.

Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Picks

Man Group PLC MNGPY carries a Zacks Rank #2 (Buy), at present. The company’s shares have gained 4.2% over the past three months.Eaton Vance Corporation EV holds a Zacks Rank of 2, currently. Its shares have rallied 8.6% in the past three months.

Hamilton Lane Inc. HLNE, Zacks #2 Ranked stock, has appreciated 30.6% in three months’ time.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.

This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.

See their latest picks free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Man Group PLC (MNGPY) : Free Stock Analysis Report
 
Apollo Global Management, LLC (APO) : Free Stock Analysis Report
 
Eaton Vance Corporation (EV) : Free Stock Analysis Report
 
Hamilton Lane Inc. (HLNE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research