Direct ChassisLink Appoints Two New Board Members

Direct ChassisLink, a Charlotte, N.C.-based company that sells chassis equipment and is owned by the Greenwich, Conn.-based private equity firm Littlejohn, has appointed two new board members: John Bowe and Ronald Sorrow. Bowe was most recently the president of APL, a global container transportation company. Sorrow was most recently the president and CEO of Avron Partners, a partnership formed to focus on developing and supporting Austin Ventures’s acquisition and investment activities within the logistics, distribution, and supply chain sectors.

PRESS RELEASE:

Direct ChassisLink, Inc., a leading full-service provider of chassis equipment to the U.S. intermodal industry, announced today the appointments of John D. Bowe and Ronald T. Sorrow, senior maritime and supply chain executives, respectively to its Board of Directors.

DCLI rents and leases chassis to drayage companies and steamship lines in the United States. The Company owns or leases approximately 65,000 chassis through a network of 129 locations strategically located on or near key ports and other intermodal hubs in the United States. Littlejohn & Co, a private investment firm based in Greenwich, CT, acquired DCLI in March 2012 from Maersk Inc., a subsidiary of the A.P. Moller-Maersk Group.

William J. Shea, Jr. Chairman and CEO, of DCLI, said, “We are very pleased to have John and Ron join our Board as their combined experiences in the maritime and supply chain sectors complement that of our other board members. We look forward to their contributions as we further develop our new business pipeline and expand our business relationships with intermodal players to profitably grow our business.”

Mr. Bowe has extensive experience in the maritime industry, most recently serving for more than 20 years with APL, a global container transportation company, in a number of senior executive capacities most recently as President, Americas where he was responsible for APL ocean transportation business and operations in the U.S., Canada, and Latin America. He also served with Delta Steamship and began his career with Prudential Lines, Inc. Mr. Bowe is a graduate of Hamilton College.

Mr. Sorrow has a 40 year career concentrated within the international and North American supply chain, distribution logistics, and transportation services sectors. Mr. Sorrow most recently has served as President and CEO for AVRON Partners, Inc., a partnership formed to focus on developing and supporting Austin Ventures, Inc.’s acquisition and investment activities within the logistics, distribution, and supply chain sectors. From 2001 to 2006, Mr. Sorrow served with RoadLink USA, as President and Chief Executive Officer and, most recently, as Vice Chairman and a Board Director. Mr. Sorrow was President and Chief Executive Officer of CSX Intermodal from 1988 to 1998 and also served with Saunders Carriers and Truck Leasing Systems. Earlier in his career, he held senior management roles within Continental Trailways Coach and Package Express Systems. He is a graduate of the University of Georgia.

“Bill Shea and the DCLI management team are making rapid progress in transitioning DCLI into an independent company and accelerating the industry transition to the trucker chassis model. We are fortunate to now have John and Ron as directors. Their vast experience in the maritime and supply chain industries will further enable us to reposition DCLI in the marketplace,” said Edmund J. Feeley, Managing Director of Littlejohn.

About Littlejohn & Co.

Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm focused on 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 IV, L.P., which has over $1.3 billion in capital commitments. For more information, visit www.littlejohnllc.com.

Source: PR Newswire