M&A Deal Summary

Apollo Global Management and EQT Acquire Blume Global

On March 7, 2019, asset manager Apollo Global Management and private equity firm EQT acquired software company Blume Global from Direct ChassisLink

Acquisition Highlights
  • This is Apollo Global Management’s 1st and EQT’s 9th transaction in the Software sector.
  • This is Apollo Global Management’s 63rd and EQT’s 26th transaction in the United States.
  • This is Apollo Global Management’s 6th and EQT’s 5th transaction in California.
Investment Fate
  • Blume Global was sold to a strategic buyer in 2023 for 414M USD.

M&A Deal Summary

Date 2019-03-07
Target Blume Global
Sector Software
Buyer(s) Apollo Global Management
EQT
Sellers(s) Direct ChassisLink
Deal Type Divestiture

Target

Blume Global

Pleasanton, California, United States
Blume Global is a developer of software package connects asset owners and their users by hosting real time capacity from several major equipment programs spanning 120+ markets in North America. Blume Global was founded in 1994 and is based in Pleasanton, California.

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Buyer(S) 2

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 85 of 151
Sector: Software M&A 1 of 2
Type: Divestiture M&A Deals 16 of 28
State: California M&A 6 of 17
Country: United States M&A 63 of 108
Year: 2019 M&A 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-07 Direct ChassisLink

Charlotte, North Carolina, United States

Direct ChassisLink is a provider of equipment and asset management services to the U.S. intermodal industry. DCLI provides chassis leasing and chassis/container management services to container shipping companies, railroads, terminal operators, logistics companies, motor carriers, and beneficial cargo owners through its advantaged network, information technology, and field management organization. Direct ChassisLink was founded in 2009 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 CEC Entertainment

Irving, Texas, United States

CEC Entertainment, Inc. is a restaurant chain of Pizza. CEC Entertainment was founded in 1977 and is based in Irving, Texas.

Sell -
Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 202 of 318
Sector: Software M&A 9 of 15
Type: Divestiture M&A Deals 41 of 52
State: California M&A 5 of 11
Country: United States M&A 26 of 60
Year: 2019 M&A 6 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-07 Direct ChassisLink

Charlotte, North Carolina, United States

Direct ChassisLink is a provider of equipment and asset management services to the U.S. intermodal industry. DCLI provides chassis leasing and chassis/container management services to container shipping companies, railroads, terminal operators, logistics companies, motor carriers, and beneficial cargo owners through its advantaged network, information technology, and field management organization. Direct ChassisLink was founded in 2009 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-28 Igenomix

Valencia, Spain

Igenomix engages in women’s health and reproductive genetic testing services for IVF clinics. The Company support c. 90,000 couples per year with a global footprint of 19 laboratories covering +80 countries. Igenomix was founded in 2011 and headquartered in Valencia, Spain.

Buy -

Seller(S) 1

SELLER

Direct ChassisLink

Charlotte, North Carolina, United States

Category Company
Founded 2009
Sector Transportation
DESCRIPTION

Direct ChassisLink is a provider of equipment and asset management services to the U.S. intermodal industry. DCLI provides chassis leasing and chassis/container management services to container shipping companies, railroads, terminal operators, logistics companies, motor carriers, and beneficial cargo owners through its advantaged network, information technology, and field management organization. Direct ChassisLink was founded in 2009 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-25 TRAC Intermodal - Domestic Chassis Fleet

Princeton, New Jersey, United States

TRAC Intermodal LLC - Domestic Chassis Fleet of approximately 72,000 53-foot domestic chassis and related customer and hosting contracts with major Class I railroads and intermodal shipping companies throughout the United States.

Buy -