PLEASANTON, California, April 16, 2019 /PRNewswire/ -- Blume Global, a leader in global logistics and digital supply chain solutions, today announced that funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE: APO) have completed their strategic investment in Blume Global, with EQT Infrastructure keeping a minority investment. As part of the close, Blume Global becomes an independent company within the Apollo Funds' portfolio. Blume Global and DCLI will continue to be strategic partners and will further strengthen their relationship and solutions for joint customers across the ecosystem.
Blume solutions empower supply chain leaders with unprecedented agility and precision to plan, execute, monitor and optimize the movement and allocation of inventory throughout their supply chains. Blume Global connects retail, hi-tech, consumer products and automotive organizations with logistics service providers, ocean carriers, motor carriers and railroads, all on a collaborative, intelligence-driven network across every move, every mode and every mile of the supply chain.
As a portfolio company of the Apollo Funds, Blume Global bolsters its independence to drive significant innovation into global supply chain networks and fuel its growth. In Blume Global, the Apollo Funds are investing in a high-growth company that is uniquely positioned to leverage its 25-year history of data and insights across its vast global network and bring this together with advanced technologies in AI and ML, automation, blockchain and more, to transform global supply chains.
"As we look at the global supply chain ecosystem, we believe there is significant opportunity to deliver innovation that drives intelligence and collaboration across the network, and brings new value to all participants in the supply chain," said Pervinder Johar, CEO, Blume Global. "Our data insights, and our network, along with new technologies, are key to driving this, and investment by the Apollo Funds is foundational for our next phase of growth."
"We believe Blume Global presents a unique opportunity for the Apollo Funds – it brings a startup innovation-driven mindset together with Blume's 25 years of data and insights across global supply chain networks and a tremendous market opportunity," said Antoine Munfakh, partner at Apollo. "We are excited to be a strategic investor in the significant opportunity ahead."
About Blume Global
From the world's largest global retailers, manufacturers and consumer products companies to the smallest local drayage trucking companies, success depends on end-to-end visibility and orchestration of global supply chain networks across every move, every mode and every mile. With its AI-enabled, data-driven digital platform and solutions for real-time visibility, logistics execution, asset management, optimization and financial settlement, Blume Global leverages 25 years of data insights, its globally connected network, and advanced technologies to help enterprises be more agile and responsive, improve service delivery and reduce costs. Learn more at blumeglobal.com.
InkHouse (for Blume Global)
SOURCE Blume Global