Pacer International Agrees to Buyout

February 25, 1999 9:25 AM, EST

Pacer International of Lafayette, Calif., an intermodal marketing, truck brokerage and cartage company, has agreed to a buyout with an affiliate of Apollo Management, a New York-based investment firm that last year purchased two of the nation’s largest chemical haulers.

Pacer Chief Executive Officer Donald C. Orris said the transaction will be funded with combined equity from Apollo and Pacer’s management group. A revolving credit facility will also be available for working capital and acquisitions.

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