HAMILTON, Bermuda, Jan. 2, 2020 /PRNewswire/ -- Textainer Group
Holdings Limited (NYSE: TGH) ("Textainer", "the Company", "we" and
"our"), one of the world's largest lessors of intermodal
containers, today announced that on December
31, 2019 the Company's wholly-owned subsidiary, Textainer
Limited, completed the purchase of Leased Assets Pool Company
Limited ("LAPCO"). Textainer previously announced entering an
agreement on December 2, 2019 for the
purchase of LAPCO for an equity value of approximately
$66 million in cash (constituting assets of $192 million
less outstanding debt of $126
million). The Company repaid LAPCO's existing debt at
the closing by refinancing this debt in Textainer Limited's
revolving credit facility.
LAPCO owns a fleet of approximately 163,000 TEU (twenty-foot
equivalent units) of intermodal containers managed by Textainer and
approximately 3,000 TEU of containers managed by other container
lessors. LAPCO was an indirect subsidiary of Trencor
Limited, which owns approximately 5% of Textainer's common shares.
The percentage of Textainer's owned fleet increased to 85.4%
from 80.8% upon the closing.
About Textainer Group Holdings Limited
Textainer has operated since 1979 and is one of the world's
largest lessors of intermodal containers with more than 3.5 million
TEU in our owned and managed fleet. We lease containers to
approximately 250 customers, including all of the world's leading
international shipping lines, and other lessees. Our fleet consists
of standard dry freight, refrigerated intermodal containers, and
dry freight specials. We also lease tank containers through our
relationship with Trifleet Leasing and are a supplier of containers
to the U.S. Military. Textainer is one of the largest and most
reliable suppliers of new and used containers. In addition to
selling older containers from our lease fleet, we buy older
containers from our shipping line customers for trading and resale.
We sold an average of almost 140,000 containers per year for the
last five years to more than 1,500 customers making us one of the
largest sellers of used containers. Textainer operates via a
network of 14 offices and approximately 500 independent depots
worldwide.
Contact Information
Investor Relations
+1 415-658-8333
ir@textainer.com
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SOURCE Textainer Group Holdings Limited