This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEIBE12L_L.jpg
The deal’s completion brings one of the largest chassis lessors in the United States under the control of Singapore’s GIC, the infrastructure investment arm of Canada’s OMERS and London-based investment firm Wren House.
The deal marks a win for Apollo, which acquired a majority stake in Charlotte, North Carolina-based Direct ChassisLink and logistics and digital supply chain solutions company Blume Global from EQT in 2019 for around $2.5 billion, including debt. EQT kept a 20% stake in both companies.
The latest transaction did not include Blume. Excluding Blume’s remaining value, Apollo made two times the money it invested, according to a person familiar with the matter.
Blume separately raised money from outside investors in 2021 at a valuation of $500 million.
Direct ChassisLink controls a fleet of over 151,000 marine and 100,000 domestic chassis. It has a workforce of around 410 employees and is active in the transportation of containers to and from ports, railyards and other locations.
