GATX Corporation Acquires Tank Container Lessor Trifleet Leasing

Rhea-AI Summary

GATX Corporation (NYSE:GATX) has announced its acquisition of Trifleet Leasing Holding B.V., the fourth largest global tank container lessor, for approximately €175 million in cash, finalized on Dec. 29, 2020. Trifleet, based in the Netherlands, manages over 18,000 tank containers serving diverse sectors including chemicals, energy, and pharmaceuticals. This acquisition aims to enhance GATX's railcar leasing business and leverage its global customer base, focusing on safety, quality, and environmental responsibility.

Positive

• Acquisition of Trifleet expands GATX's service offerings in tank container leasing.
• Trifleet's existing fleet of over 18,000 containers enhances GATX's asset management.
• The move is expected to leverage GATX's extensive global customer base for growth.

Negative

• None.

CHICAGO, Dec. 30, 2020 (GLOBE NEWSWIRE) -- GATX Corporation (NYSE:GATX) today announced its acquisition of Trifleet Leasing Holding B.V., the fourth largest global tank container lessor. Headquartered in the Netherlands with offices worldwide, Trifleet owns and manages a fleet of over 18,000 tank containers leased to a diverse customer base in the chemical, industrial gas, energy, food, cryogenic and pharmaceutical industries, as well as to tank container operators.

“Trifleet complements our existing railcar leasing business and shares GATX’s approach of striving for the highest levels of safety, quality, customer service and environmentally responsible performance,” said Brian A. Kenney, president and chief executive officer of GATX. “We are committed to strengthening Trifleet’s position in the tank container leasing market by leveraging GATX’s extensive global customer base and experience in managing long-lived, widely used transportation assets.”

GATX closed its acquisition of Trifleet on Dec. 29, 2020 for approximately €175 million in cash.

COMPANY DESCRIPTION
GATX Corporation (NYSE:GATX) strives to be recognized as the finest railcar leasing company in the world by our customers, our shareholders, our employees and the communities where we operate. As the leading global railcar lessor, GATX has been providing quality railcars and services to its customers for over 121 years. GATX has been headquartered in Chicago, Illinois since its founding in 1898.

AVAILABILITY OF INFORMATION ON GATX'S WEBSITE
Investors and others should note that GATX routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information that the Company posts to the GATX Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in GATX to review the information that it shares on www.gatx.com under the “Investor Relations” tab.

FOR FURTHER INFORMATION CONTACT:
GATX Corporation
Shari Hellerman
Director, Investor Relations
GATX Corporation
312-621-4285
shari.hellerman@gatx.com

FAQ

What did GATX Corporation acquire?

GATX Corporation acquired Trifleet Leasing Holding B.V., a leading tank container lessor.

How much did GATX pay for Trifleet?

GATX closed the acquisition of Trifleet for approximately €175 million.

When was the acquisition of Trifleet completed?

The acquisition was completed on December 29, 2020.

What is the significance of the Trifleet acquisition for GATX?

The acquisition aims to strengthen GATX's position in the tank container leasing market and enhance service offerings.

What industries does Trifleet serve?

Trifleet serves the chemical, industrial gas, energy, food, cryogenic, and pharmaceutical industries.