Harris Williams & Co. Advises Direct ChassisLink on its Pending Sale to EQT Infrastructure II
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the pending sale of Direct ChassisLink (DCLI), a leading provider of equipment and asset management services to the U.S. intermodal industry, to EQT Infrastructure II (EQT). Harris Williams & Co. is serving as the advisor to DCLI, a portfolio company of Littlejohn & Co. (Littlejohn). The pending transaction, which is subject to customary closing conditions, is being led by Joe Conner, Jason Bass, Jershon Jones and Jeff Kidd of Harris Williams & Co.’s Transportation & Logistics (T&L) Group and Ryan Nelson of the firm’s Industrials Group.
“Under the leadership of Chief Executive Officer Bill Shea, DCLI has become a leader in the intermodal industry,” said Ryan Nelson, a managing director in Harris Williams & Co.’s Industrials Group. “The partnership the management team forged with Littlejohn to build out the platform following the carve out from Maersk is a tremendous success story. We look forward to watching the continued growth and development of the company as it enters into a new partnership with EQT.”
“DCLI marks another successful transaction for Harris Williams & Co. in the transportation sector,” said Joe Conner, a managing director in Harris Williams & Co.’s T&L Group. “We continue to see strong interest in the sector from both strategic and financial buyers, as companies benefit from strong industry tailwinds, including the increasing complexity of supply chains and customers demanding asset availability in order to meet stringent delivery needs. These dynamics provide a strong opportunity for growth for premier service providers like DCLI, which should continue for the foreseeable future.”
DCLI is a leading provider of equipment and asset management services to the U.S. intermodal industry. DCLI provides chassis leasing and chassis/container management services to global steamship lines, large U.S. railroads, terminal operators, shippers, logistics companies and motor carriers through its advantaged network, information technology and field management organization. DCLI was originally formed in 1974 as Maersk Equipment Services Company, and operated as a subsidiary of Maersk until early 2012.
Founded in 1996, Littlejohn, based in Greenwich, Connecticut, is a middle market private equity firm that invests in companies undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing from Littlejohn Fund V, L.P. which has $2 billion in capital commitments.
EQT is a leading private equity group in Northern Europe, with portfolio companies in Europe, Asia and the U.S. with total sales of more than €17 billion and over 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. EQT Infrastructure II is a €1.9 billion fund investing in medium-sized infrastructure businesses in the Nordic region, parts of Continental Europe and North America. Investment targets are regulated infrastructure, concession-based infrastructure, market-based infrastructure and services businesses with infrastructure characteristics.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s T&L Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), truck, rail, marine and air transportation, transportation equipment, and the automotive and heavy duty vehicle market. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams & Co. website.
Harris Williams & Co.’s Industrials Group has experience across a variety of sectors, including advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.