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GATX Corporation acquires Trifleet Leasing

Chicago-based GATX Corporation has announced that it has acquired the Dutch company Trifleet Leasing Holding BV, the world’s fourth largest global tank container lessor, in a €175 million (US$214.75 million) deal that was concluded on 29 December.

The acquisition of Trifleet comes two weeks after GATX announced a US$500 million loan arrangement with the Bank of America, the term loan, which, “Provides delayed draw term loan commitments to the Company in an aggregate principal amount of $500.0 million, which will be available from the Effective Date [14 December] until April 17, 2021.”

It is expected that GATX used this loan arrangement to acquire Trifleet, which 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.

Brian A. Kenney, GATX president and CEO, said “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.”

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