DCLI: GIC, OMERS Infrastructure and Wren House to Acquire Direct ChassisLink Inc.

NEW YORK, June 24, 2022 (GLOBE NEWSWIRE) -- GIC, OMERS Infrastructure and Wren House have announced the signing of an agreement to jointly acquire Direct ChassisLink Inc. (DCLI) from investment funds managed by Apollo and EQT. DCLI is a leading chassis provider in the U.S., enabling over-the-road transportation of containerized freight to and from ports, railyards, and customer locations. Terms of the investment are not being disclosed. DCLI is one of the largest chassis lessors in the U.S. With over 151,000 marine and 100,000 domestic chassis in its fleet, DCLI operates out of strategic locations across key port and rail terminals in the U.S. DCLI is headquartered in Charlotte, North Carolina, and employs approximately 410 employees. Ang Eng Seng, Chief Investment Officer of Infrastructure, GIC, said: "As a global long-term investor, GIC seeks to invest in world-class companies. GIC is excited to partner with like-minded investors, OMERS Infrastructure and Wren House, to acquire DCLI, one of the largest chassis lessors in the U.S., providing infrastructure to facilitate trade." Boon Chin Hau, Managing Director and Head of Infrastructure Americas, GIC, said: "In the U.S., intermodal transportation is on the rise, as companies seek to drive down transport costs and reduce their carbon footprint. As a market-leading chassis lessor, we firmly believe DCLI is well-positioned to capitalize on this growing trend. We look forward to supporting DCLI's management team as they continue their impressive growth." Gisele Everett, Senior Managing Director and Head of Americas, OMERS Infrastructure, said: "We're pleased to be making this ...Full story available on Benzinga.com