LONDON and SILICON VALLEY, Calif.,
April 27,
2023 /PRNewswire/ -- InfraBridge, a leading
infrastructure investment manager dedicated to investing in
mid-market businesses in transportation and logistics, digital
infrastructure, and energy transition, today announced it has
invested in Phantom Auto, the leading provider of
human-centered remote operation software, via its portfolio company
ConGlobal. As part of the investment agreement, Brant Ring, ConGlobal CEO, will join the
Phantom Auto Board of Directors.
Remotely operated yard truck developed with Phantom Auto for use
in container/cargo handling terminals, pictured at a ConGlobal
operated terminal.
"As ConGlobal continues on its transformation journey, we are
focused on supporting enterprise performance through advanced
solutions and innovation," said Damian Stanley, managing
partner of InfraBridge and chair of the investment committee.
"Phantom Auto strategically aligns with our thesis of digitizing
logistics to drive performance and efficiencies and further create
value within our portfolio companies."
InfraBridge's investment in Phantom Auto is being made through
its operating company, ConGlobal, which is focused on delivering
advanced solutions for terminal operators, by terminal operators,
and making supply chain endpoints and first mile/last mile cargo
movements safer and more effective, efficient, sustainable, and
resilient for the employees, customers, communities, and
shareholders it serves.
"Becoming the world's go-to experts in terminal operations
requires using our expertise to build lasting solutions and
capabilities for all of those in our care," Ring said. "This
partnership and the human-centered capability that we are
developing and deploying with Phantom Auto fits squarely within
that requirement and our daily mission to take care of each other,
our customers, and our business."
"We are excited to partner with InfraBridge, who shares our
vision for digitizing logistics; and with ConGlobal, who will help
us continue to bring that vision to life with remotely operated
yard trucks," said Shai Magzimof, Co-founder and Chief Executive
Officer at Phantom Auto. Added Elliot
Katz, Co-founder and Chief Business Officer at Phantom Auto:
"With remotely operated yard trucks, customers are investing in
supply chain resilience that enables them to remotely tap into
labor wherever it is available. This provides them greater
flexibility when demand fluctuates; while increasing safety and
productivity for their most important resource: people."
ABOUT INFRABRIDGE
InfraBridge is a leading infrastructure investment manager
dedicated to investing in mid-market businesses in transportation
and logistics, digital infrastructure, and energy transition, among
other key sectors. The firm's investment strategy applies private
equity rigor with an active approach to asset management in order
to maximize value and drive returns on behalf of investors.
Formerly AMP Capital's international infrastructure equity
business, InfraBridge is now a division of DigitalBridge Group,
Inc. (NYSE: DBRG), a leading global digital infrastructure firm
managing a $65 billion portfolio of
digital infrastructure assets on behalf of its investors.
InfraBridge is headquartered in London,
United Kingdom. For more information,
visit: www.infrabridge.com.
ABOUT CONGLOBAL
ConGlobal is North America's
leading operator of intermodal, finished vehicle, and depot service
terminals. With operations across the U.S., Mexico, and Costa
Rica and over 50 years of industrial experience, ConGlobal
serves as the industry's go-to terminal operations expert.
ConGlobal's service and product offerings anchor on complementing
specialized industrial equipment operations with advanced,
technology-enabled systems and processes. For more information,
visit: www.conglobal.com
ABOUT PHANTOM AUTO
Phantom Auto's human-centric technology enables people to
remotely operate vehicles – including trucks, forklifts, and robots
– from thousands of miles away; connecting people who want to work
with jobs that need to be filled. By decoupling labor from
location, Phantom's technology increases labor access &
retention, safety, productivity, and resilience across the supply
chain. For more information, visit www.phantomauto.com.
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SOURCE ConGlobal