Investment from Apollo Funds Will Enable Company's Next Phase of Growth
CHARLOTTE, N.C., April 16, 2019 /PRNewswire/ -- Funds managed by affiliates (the "Apollo Funds") of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (APO) have completed the previously announced transaction to acquire Direct ChassisLink, Inc. ("DCLI" or "the company") from EQT Infrastructure ("EQT"). The Apollo Funds also acquired global supply chain technology firm Blume Global, Inc. ("Blume Global"). As part of the transaction, EQT retained a 20% minority stake in DCLI and Blume Global. DCLI and Blume Global remain strategically aligned to capitalize on the combined synergies of deploying technology that enables unparalleled competitive differentiation in asset management and provisioning to deliver a unique value proposition to customers across the supply chain ecosystem. The transaction closed on Wednesday, April 10, 2019, within the expected timeframe following receipt of the necessary approvals. Financial terms were not disclosed.
About Direct ChassisLink, Inc.
DCLI is the largest provider of marine and domestic container chassis and a leading provider of asset management services to the U.S. intermodal industry. The company owns, leases, and manages over 145,000 marine chassis and 89,000 domestic chassis. DCLI's strategic partnership with Blume Global uniquely positions the company to deliver value to its customers across the supply chain ecosystem. DCLI has a strong focus on safety and sustainability and is a participant in the U.S. Environmental Protection Agency's (EPA) innovative WasteWise program. DCLI is majority-owned by Apollo, a leading global alternative investment manager with assets under management of approximately $280 billion as of December 31, 2018.
Brian Schaffer, Prosek Partners
(646) 818 9229