Simpson Thacher is representing funds managed by EQT in connection with the announced acquisition of Blume Global by WiseTech Global (ASX: WTC) for $414 million. Blume is headquartered in the United States and manages intermodal containers and chassis on behalf of six of the seven Class 1 US railroads, ocean carriers and other intermodal equipment providers including global freight forwarders and Beneficial Cargo Owners. The transaction is expected to close in the first quarter of 2023.
The Firm also represented EQT in connection with the 2022 acquisition of Direct ChassisLink by an affiliate of GIC, OMERS Infrastructure and Wren House. Financial details of the transaction were not 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.
In 2019, EQT sold a majority stake in both businesses to an affiliate of Apollo Global Management while retaining a minority stake.
EQT is a purpose-driven global investment organization with EUR 114 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
The Simpson Thacher team includes: Michael T. Holick and Benjamin A. Bodurian (M&A); Jonathan Goldstein and William Smolinski (Tax); and Robert Lee, Vandana Harris and Vasanth Padaki (Private Funds).