EQT to sell majority stake in Direct ChassisLink to Funds Managed by Affiliates of Apollo Global Management


  • EQT Infrastructure to sell majority stake in DCLI, the largest marine and domestic chassis provider in North America, to funds managed by affiliates of Apollo Global Management, LLC
  • EQT Infrastructure to maintain a minority stake and will continue to support DCLI in solidifying its position as a leading asset provider in the North American intermodal market
  • During EQT Infrastructure’s ownership, DCLI has experienced substantial growth, strengthened its margins and expanded its digital supply chain platform

The EQT Infrastructure II and EQT Infrastructure III Funds (together “EQT Infrastructure” or “EQT”) today announced that they have entered into a definitive agreement to sell a majority stake in Direct ChassisLink, Inc. (“DCLI” or the “company”) to funds managed by affiliates of Apollo Global Management, LLC (“Apollo”). Under the terms of the agreement, EQT will retain a 20% minority stake.

Acquired by EQT in June 2016, DCLI is today a leading provider of marine and domestic chassis and asset management services in North America, operating an extensive network of approximately 235,000 chassis across over 450 locations. Chassis are an essential part of the transportation value chain and are used to carry containers between ships in port and local destinations, to and from intermodal hubs for long haul transport by rail or truck, and for last mile distribution.

Together with the management team, EQT has supported DCLI in executing on a business plan focused on accelerated growth. During EQT Infrastructure’s ownership, DCLI expanded into the domestic chassis market, acquiring nearly 90,000 domestic chassis supporting blue-chip customers through long-term agreements, and continued expansion within the marine chassis market. These transactions have not only nearly doubled the size of DCLI, but also diversified the company’s product offering and customer base. In addition, they have expanded DCLI’s national footprint to encompass all major ports and railway terminals in the US, positioning it as a leading chassis provider in the ever-growing North American market.

DCLI’s subsidiary, Blume Global, has developed its offering to include asset management, logistics execution, end-to-end supply chain visibility, optimization, automated financial settlement and more by leveraging nearly 25 years of data and customer insights. Since 1994, Blume Global has built a trusted platform in the global supply chain space with its integrated network and data insights across nearly 100 countries, more than 1,400 offices with 300+ IMCs, and 6,000+ motor carriers, and managing approximately 300,000 intermodal assets. Its platform processes USD 1 billion in transactions for customers with 99.99 percent billing accuracy.

Erwin Thompson, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, commented: “DCLI has undergone a significant transformation and today is a leader in the North American intermodal market. Through DCLI’s expansion into the domestic chassis market and the transformation of Blume Global, the company has taken a leading position in providing a comprehensive suite of asset and supply chain services. DCLI has done a tremendous job expanding and executing on its strategy, and EQT is confident that Apollo will be a great partner as DCLI continues to build on its strong momentum. EQT Infrastructure is excited to maintain a minority stake in the company and looks forward to remaining a part of DCLI’s bright future.”

Bill Shea, CEO of DCLI, said: “With the support of EQT, DCLI has grown significantly, both in terms of our footprint in North America and our digital supply chain offering. We continue to build and deliver solutions that benefit participants across the global supply chain. Going forward, we are confident that, together with Apollo and EQT, we will continue to grow and strengthen the DCLI offering.”

The transaction is subject to customary conditions and approvals. It is expected to close in Q2 2019. Financial terms of the transaction were not disclosed.

Citigroup Global Markets Inc. acted as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor to DCLI and EQT Infrastructure.

Erwin Thompson, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +1 917 281 0860
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. 

More info: www.eqtpartners.com

About DCLI
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 (formerly REZ-1), which began in 2014, uniquely positions the company to deliver value to its customers across the supply chain ecosystem via Blume’s digital supply chain platform. 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.

More info: www.dcli.com

About Blume Global
From the world’s largest global retailers, manufacturers and consumer products companies to the smallest local drayage trucking companies, success depends on end-to-end visibility and orchestration of global supply chain networks across every move, every mode and every mile. With its AI-enabled, data-driven digital platform and solutions for real-time visibility, logistics execution, asset management, optimization and financial settlement, Blume Global leverages 25 years of data insights, its globally connected network, and advanced technologies to help enterprises be more agile and responsive, improve service delivery and reduce costs.

More info: www.blumeglobal.com

Categories: News


Hg announces acquisition of Mobility Concept

HG Capital

Hg has announced today the acquisition of Mobility Concept GmbH, a leading B2B fleet leasing company, headquartered in Germany. Hg has acquired Mobility Concept from Unicredit Leasing GmbH, a wholly-owned subsidiary of UniCredit Bank AG (“HypoVereinsbank”) as well as from the founders. The closing of the transaction is still subject to regulatory approval.

The terms of the transaction were not disclosed.

Founded in 2000, Mobility Concept is focused on the B2B auto leasing space. It operates a fleet of approximately 25,000 vehicles under contract and focuses on blue-chip customers within its core sectors, mostly as a sole supplier.

Mobility Concept sits in the Hg investment ‘sweet spot’, with a strong and predictable business model, including recurring revenues and a loyal customer base.

This investment continues Hg’s strategy to develop technology-enabled service providers in the automotive financing space and is the result of considerable sector work undertaken in recent years. This includes prior investments in Zenith (vehicle leasing services), Epyx (an electronic network serving vehicle fleet operators and repair shops), Eucon (a platform for automotive parts pricing data), Parts Alliance (a buying group and distribution network for after-market car parts) and, most recently, MeinAuto.de (a leading B2C online platform for new car purchases).

Mobility Concept will, together with MeinAuto.de, be part of Mobility Holding, a platform set-up by Hg to acquire businesses in the automotive distribution and financing space. Mobility Holding seeks to support its business in the development of innovative long-term mobility solutions for their customers, leveraging best-in-class technology and digital capabilities (for further references please refer to http://www.mobility-holding.de).

Justin von Simson, Managing Partner and Head of the Munich Office at Hg, said: “Mobility Concept is one of the leading B2B leasing platforms in Germany with outstanding customer service and highly skilled employees. This partnership represents an exciting proposition, combining Mobility Concept’s long-standing customer base and very efficient organisation/execution processes, with Hg’s expertise in the automotive services sector.”

Florian Wolff, Director at Hg, commented: “Our investment in Mobility Concept is a result of a long-term focus on the car leasing and distribution space and reflects the Hg approach to sector based, insight driven investing. We look forward to partner with Mobility Concept for the next chapter of their development”.

Naveen Kohli, CSO of Mobility Concept said: “The step to partner with Hg makes sure our customers can rely on our high service levels and allows us to develop our services further to preserve the high customer loyalty we enjoy today. Hg is the ideal partner for us due to its profound knowledge in and focus on forward looking mobility concepts.”

Categories: News


Divergent 3D Announces Series B and Related Funding

Horizons Ventures

LOS ANGELES and HONG KONG— November 21, 2017— Divergent 3D, a technology development and licensing company that is creating a sustainable manufacturing revolution in the car industry, announces a Series B financing scheduled for close on or before December 15, 2017. The Series B close is $65+million with an additional investor option of $40 million to further accelerate revenue growth, bringing the aggregate funding, with option, to $107 million. Hong Kong-based investment holding company, O Luxe Holdings Limited (“O Luxe”), led the investment group, which includes Horizons Ventures, Shanghai Alliance Investment Limited and Altran Technologies.

Launched in 2014 by Founder & CEO Kevin Czinger, Divergent’s patented, end-to-end software-hardware solution incorporates 3D metal printing into the design, engineering and manufacturing of advanced vehicle structures for the automotive and aerospace industries. Its proprietary Divergent Production System™ automates structural design and optimization for volume manufacturing of lightweight structures without upfront, capital-intensive factory and tooling investments.

“With the ability to quickly respond to market demands, the Divergent system allows automakers and technology companies to innovate at a much faster rate—scaling up volume production at only a fraction of the cost while also alleviating environmental damage,” explains Czinger. “As a leading investment holding company dedicated to advancing sustainable manufacturing and transportation, O Luxe aligns with Divergent’s mission and fully understands the importance of disruptive technologies to the automotive industry. We are thrilled to partner with a company that supports our growth and vision.”

Marking a major financial milestone, the Series B funding will accelerate the commercialization of Divergent’s technology and provide additional resources to proliferate the technology globally, especially in the rapidly expanding Chinese electric vehicle market. Through non-exclusive partnerships with automakers and technology companies, Divergent will continue its strong momentum in leading the adoption of an economically and environmentally transformative manufacturing solution—building safer, stronger and more profitable eco-friendly vehicles at mass volumes.

In January 2016, Divergent announced the first close of its Series A financing and received a total of $23 million Series A funding. Since then, the technology development and licensing company has received global recognition for its manufacturing solution, and forged strategic partnerships with Altran, SLM Solutions and PSA Group (Peugeot, Citroen & DS).


About Divergent 3D

Divergent 3D harnesses the power of 3D printing to unleash innovation in automotive manufacturing. Its breakthrough technology platform transforms the economics and environmental impact of designing and manufacturing complex structures such as cars. Divergent’s planet-saving manufacturing approach enables both low and high volume manufacturing without costly, traditional tooling and capital expenses, enabling manufacturers to quickly iterate and invent new vehicle models for competitive advantage. As a technology company, Divergent partners with OEMs and innovative startups around the world to produce the next generation of vehicles. For more information, please visit www.divergent3d.com.


About O Luxe Holdings

O Luxe Holdings Limited is a Hong Kong-based investment holding company focused on developing technology-based companies that will accelerate the global adoption of electric vehicles and drive the world toward sustainable manufacturing and transportation. O Luxe company most recently acquired GLM Co., Ltd, a Japanese electric vehicles and engineering solutions company, and received a major investment from Mr. Li Ka-shing, a renowned Hong Kong entrepreneur, investor, and philanthropist. The Group is principally engaged in distribution of watches, wholesale trading of jewellery products, mining, money lending and securities investments.


About Horizons Ventures

Horizons Ventures, the private investment arm of Mr. Li Ka-shing, is a leading investor in some of the world’s most innovative companies and disruptive technologies, including Facebook, Spotify, Impossible Foods, Improbable, Zoom, Blockstream, Soul Machines and ChromaDex. For more information, please visit http://horizonsventures.com/


About SAIL

Shanghai Alliance Investment Limited is a private equity and venture capital arm of Shanghai Municipal Government. The firm invests in high-tech, media, entertainment, infrastructure, financial services, telecommunication, healthcare, life science, and emerging low-carbon sectors such as clean energy, new material and eco-environment protection. Shanghai Alliance Investment Ltd. was founded in 1994 and is based in Shanghai, China.


About Altran

As a global leader in Engineering and R&D services (ER&D), Altran offers its clients a new way to innovate by developing the products and services of tomorrow. Altran works alongside its clients on every link in the value chain of their project, from conception to industrialization. For over thirty years, the Group has provided its expertise to key players in the Aerospace, Automotive, Defense, Energy, Finance, Life Sciences, Railway, and Telecoms sectors, among others. With a headcount of more than 27,000 employees, Altran has a presence in more than 20 countries.



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Categories: News