Direct ChassisLink, a portfolio company of Littlejohn & Co., has acquired from Hyundai Merchant Marine its chassis fleet operating in the U.S. No financial terms were disclosed. Headquartered in Seoul, South Korea and Dallas, Texas, HMM is an ocean carrier.
Seoul, South Korea and Charlotte, NC, June 27, 2013 – Hyundai Merchant Marine (HMM), a premier ocean carrier, and Direct ChassisLink, Inc. (DCLI), a major provider of intermodal marine chassis in North America, jointly announced today that DCLI has acquired from HMM its chassis fleet operating in the United States. DCLI’s purchase of HMM’s fleet – over 23,000 well-maintained, strategically located chassis – is yet another indicator of the changing chassis management paradigm in the U.S.
HMM and DCLI announced that in addition to the sale, HMM has entered into a long term agreement pursuant to which DCLI will be HMM’s exclusive chassis provider in the U.S.
“We are excited that Hyundai Merchant Marine chose DCLI as a strategic partner to meet the company’s long term chassis requirements in the U.S.,” said DCLI CEO Bill Shea.
HMM is confident that the new arrangement will provide extensive and value added logistics options and services to its customers. The partnership with DCLI insures that HMM’s customers and motor carriers will have an adequate and reliable supply of marine chassis through DCLI’s nationwide fleet of approximately 100,000 units.
About Hyundai Merchant Marine (HMM)
Hyundai Merchant Marine is an ocean carrier offering a multimodal service network with global reach. HMM operates more than 40 sea routes to over 100 ports of call. The worldwide headquarters is located in Seoul, Korea, and the Americas headquarters for North and South America is located in Dallas, Texas.
About Direct ChassisLink, Inc.
Direct ChassisLink, Inc. is a provider of intermodal marine chassis that offers a wide range of chassis usage product lines to motor carriers, ocean carriers and beneficial cargo owners. DCLI also offers chassis pool management services and currently manages the Grand Alliance Chassis Pool in Southern California. DCLI is owned by an affiliate of Littlejohn & Co., an investment firm located in Greenwich, CT.