Oaktree Capital Management Acquires Consolidated Chassis Management

Funds managed by the transportation infrastructure strategy of Oaktree Capital Management acquired Consolidated Chassis Management, a manager of marine chassis pools in the U.S., which had been owned since its inception by the Ocean Carrier Equipment Management Association (OCEMA), an association of 10 international container shipping companies.

Under its new ownership, Consolidated Chassis Management will have a expanded capital base, providing financial support for the company’s launch of its new South Atlantic consolidated chassis pool (SACP 3.0). The SACP 3.0 chassis pool began operations on Oct. 1. Consolidated Chassis Management will serve as the exclusive manager and sole chassis provider for SACP 3.0 under a long-term management and supply agreement with South Atlantic Consolidated Chassis Pool (SACP), an OCEMA affiliate.

“We are enthusiastic about the prospects of our new partnership with the Oaktree Transportation Infrastructure team, who bring deep understanding and experience in the U.S. maritime and intermodal sectors,” Mike Wilson, CEO of Consolidated Chassis Management, said. “With Oaktree’s backing, CCM will be very well-positioned to carry out the innovative vision of the ports and OCEMA to create the largest truly interoperable chassis utility in the country.”

“The new pool’s high service standards and entirely rejuvenated fleet will benefit all stakeholders for the next decade and beyond in this dynamic and fast-growing region,” Jeff Lawrence, executive director of the OCEMA, said. “This unique public private partnership represents the next frontier in the evolution of the chassis paradigm in the U.S.”

SACP 3.0 is being established cooperatively by the OCEMA, Georgia Ports Authority, Jacksonville Port Authority, North Carolina State Ports Authority, SACP and Consolidated Chassis Management. The newly reconstituted pool will offer more than 45,000 new and refurbished chassis to truckers, beneficial cargo owners, ocean carriers and other users. SACP 3.0 will have more than 75 locations in Alabama, Florida, Georgia, North Carolina and South Carolina. As the pool’s manager, Consolidated Chassis Management will oversee the increase and upgrade of the existing South Atlantic consolidated chassis pool fleet with new and refurbished marine chassis. New chassis have already begun arriving at the Ports of Savannah, GA; Jacksonville, FL; and Wilmington, NC.

“We are thrilled to be working with the port authorities, our ocean carrier customers and the CCM management team in forging this one-of-a-kind partnership to improve supply chain efficiency and provide a more robust and sustainable chassis pool in the U.S. South Atlantic region,” Emmett McCann, managing director and co-portfolio manager of Oaktree’s transportation infrastructure strategy, said. “This investment is firmly aligned with our conviction in the long-term growth of the U.S. intermodal sector, and we welcome the vision of CCM, the ports of Savannah, Jacksonville and Wilmington, and OCEMA in creating SACP 3.0.”

“This new ownership represents a significant milestone that supports our commitment to delivering exceptional service within the supply chain industry to all of our valued stakeholders,” Wilson said. “Our partners can expect continued excellence, increased value and dedication to achieving our high-quality standards.”

InterPro Advisory and Strategic Rail Capital served as financial advisors and consultants to the OCEMA on this transaction.

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