Maersk Inc. announces sale of Direct Chassis Link, Inc.
February 04, 2012
In keeping with a trend to shed assets, Maersk Inc. is selling its subsidiary, Maersk Equipment Services Company.
The proposed sale of the company doing business as Direct ChassisLink, Inc. (“DCLI “ or the “Company”) comes after an agreement with to the private investment firm, Littlejohn & Co., LLC.
As noted in LM recently, Maersk has been aggressively expanding its ocean carrier deployment network, while divesting itself of operations not related to its core competency.
“The A.P. Moller-Maersk Group’s strategy is to build on its strong presence in shipping, energy and related activities,” said J. Russell Bruner, Chairman and CEO of Maersk Inc. “We have been pleased with the business levels, the profitability and the quality of management at DCLI. It is, however, a provider of chassis, and it does not fit in our long-term strategic focus.”
The transaction is expected to be completed in March of 2012, subject to regulatory approvals and satisfaction of customary closing conditions. The transaction will have no impact on the Group’s result for 2012.
DCLI rents and leases chassis to drayage companies and steamship lines in the United States. The Company owns or leases approximately 66,000 chassis through a network of 129 locations strategically located on or near key ports and other intermodal hubs in the United States.
In a statement, Littlejohn managing director Edmund J. Feeley said, DCLI is “uniquely positioned” to service the strict requirements of ocean carriers, dray operators and railroads.
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