Typewriter Ascend Ltd has reached an agreement to acquire Global Sea Containers Limited from Bohai Leasing Co., Ltd for $1.75 billion, enhancing operational capacities in the marine container leasing sector.

Target Information

Typewriter Ascend Ltd, an entity controlled by Stonepeak in collaboration with an affiliate of Textainer, has recently signed an agreement to acquire Global Sea Containers Limited (referred to as 'Seaco') from Bohai Leasing Co., Ltd for an equity purchase price of $1.75 billion, subject to certain adjustments. Established in 1965 and incorporated in Bermuda, Seaco is a leading marine container leasing company with an extensive global presence. Currently owned by Bohai, which is listed on the Shenzhen Stock Exchange, Seaco operates a fleet of over 2.4 million TEU and maintains a network of more than 360 depots and 23 offices worldwide.

Olivier Ghesquiere, CEO of Textainer, highlighted the enhanced capabilities this acquisition brings, stating, 'With the combined expertise and resources of both companies, our business will be better positioned to serve its customers with expanded available inventory and a broader range of container solutions.' This transaction promises to fortify the operational dynamics of both companies and provide a better service experience for customers.

Industry Overview

The marine container leasing industry has seen significant growth over the past few decades, primarily driven by the expansion of global trade and the corresponding increase in shipping demands. Companies in this sector, such as Seaco,