GREENWICH, CT, May 12, 2016 – Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today a definitive agreement to sell DCLI, a leading full service-provider of chassis equipment and asset management services to the U.S. intermodal industry, to EQT Infrastructure II.
Littlejohn formed DCLI as an independent company in 2012 following the acquisition of 64,000 marine chassis and an operations team from Maersk Inc. DCLI has grown its fleet aggressively since 2012 through strategic acquisitions of ocean carrier chassis fleets. DCLI’s owned and managed fleet expanded to approximately 130,000 marine chassis and 90,000 domestic rail intermodal containers from the original acquisition of 64,000 chassis. The company also acquired and successfully integrated REZ-1, whose technology platform enhances DCLI’s value proposition to customers..
Edmund J. Feeley, Managing Director of Littlejohn, added, “This successful investment in DCLI is a textbook example of the Littlejohn playbook. Leveraging our expertise in corporate carve-outs, we identified a unique investment opportunity and built and partnered with a world-class management team to transform DCLI to an independent company. In addition to providing the capital to make strategic investments, we utilized our experience in the transportation sector to rapidly grow the business. We are thrilled with the successful outcome of this investment.”
William J. Shea, Jr. Chairman and CEO of DCLI, said, “Littlejohn’s expertise in transportation and logistics allowed us to quickly begin the transformation of DCLI. Combining superior equipment and asset management capabilities with leading technology allowed us to expand our customer relationships, scale the platform and drive revenue growth and profitability.”
The transaction is subject to customary regulatory approvals. Littlejohn and DCLI were advised by Harris Williams & Co, Stifel, Nicolaus & Company, Incorporated and Morrison Cohen LLP.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies that are 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. For more information, visit www.littlejohnllc.com.
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