EQT to Sell Majority Stake in Direct ChassisLink to Apollo
03.07.19
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Simpson Thacher is representing the EQT Infrastructure II and EQT Infrastructure III Funds and Direct ChassisLink in connection with EQT’s entry into a definitive agreement to sell a majority stake in DCLI to an affiliate of Apollo Global Management. Under the terms of the agreement, EQT will retain a minority stake. The transaction is expected to close in the second quarter of 2019. Financial terms of the transaction were not disclosed.
DCLI is a leading 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.
EQT is a leading investment firm with more than €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 €19 billion and approximately 110,000 employees.
The Simpson Thacher team includes: Patrick J. Naughton, Michael T. Holick, Benjamin Bodurian, Robert Maloney Derham and Chase Bentley (M&A); Brian Steinhardt (Banking and Credit); Ryan Bekkerus and Benjamin Heriaud (Capital Markets); Jonathan Goldstein and Sarah H. Katz (Tax); David Rubinsky and J. Pasco Struhs (Executive Compensation and Employee Benefits); Marcela Robledo (Intellectual Property); Krista McManus and Dennis Loiacono (Real Estate); Sara Y. Razi and Lindsey C. Bohl (Antitrust); Timothy J. Mulvihill (Environmental); and Mick Tuesley and David Caldwell (Regulatory).