Funds managed by affiliates of Apollo are to make a structured equity investment in Intermodal Tank Transport, a global provider of ISO tank transportation logistics and depot services for bulk-liquid chemical and food-grade products.Â
Funds managed by affiliates of Apollo are to make a structured equity investment in Intermodal Tank Transport (ITT), a global provider of ISO tank transportation logistics and depot services for bulk-liquid chemical and food-grade products.
ITT will continue to be led by president and chief executive officer Jon Hulsey and the existing management team.
Financial terms of the deal have not been disclosed.
Founded in 1993, ITT serves hundreds of customers via its tank fleet and depot locations, and arranges end-to-end logistics of bulk liquids for blue-chip customers across all major modes of transportation.
The company also provides ISO tank maintenance, cleaning and inspection services across its global depot network.
Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to the Apollo Funds. ITT was advised by Raymond James & Associates Inc. as financial advisor and McGinnis Lochridge LLP as legal advisor.
