Eagle Global Logistics (CEVA Logistics)

exited

Transportation — Apollo Global Management

Deal Terms

Entry Year2007

Entry EV$3.5B

Entry Multiple8x

Leverage7x

Debt Amount$2.45B

Outcome

Exit Year2019

Risk Metrics

LTV (est.)70%

Debt / EV0.70x

Notes

Apollo merged TNT Logistics and EGL into CEVA Logistics (2007). $3.5B combined EV, $2.45B debt. Nearly went bankrupt multiple times. Apollo injected emergency capital. Sold to CMA CGM shipping group for $1.7B (2019) — well below original investment. 12-year PE hold with minimal returns. One of Apollo's worst logistics bets.

Sponsor

Apollo Global Management$938B AUM