Amid ongoing global supply chain woes, a team of overseas investment firms have signed a deal to acquire Direct ChassisLink Inc. (DCLI), which bills itself as America’s largest chassis lessor and pool provider. Terms of the investment were not disclosed.
The buyers are GIC, which manages Singapore’s foreign reserves; OMERS Infrastructure, an investment arm of the Ontario municipal employees pension fund; and Wren House, a London-based captive global infrastructure investment manager. DCLI purchased from investment funds managed by Apollo and EQT.
With more than 151,000 marine and 100,000 domestic chassis in its fleet, DCLI operates in key port and rail terminals in the U.S. DCLI is headquartered in Charlotte, N.C., and employs approximately 410 employees, according to the company.
“This agreement underscores the tremendous growth DCLI has enjoyed since our founding in 2012 and all we do to serve the nation’s intermodal transportation system,” said Bill Shea, DCLI CEO. “We thank Apollo and EQT for investing in our success, and look forward to working with OMERS, Wren House and GIC to sustain those investments and do even more to serve our customers’ supply chain needs.”
The closing of the transaction is expected in the second half of 2022, subject to customary closing conditions, including regulatory approvals, the notice stated.