Textainer partners with Trifleet to expand into tank container leasing market

SONY DSCTextainer and Trifleet have signed an agreement under which Textainer will invest in new intermodal tank containers to be managed by Trifleet, marking Textainer’s entry into the tank container market. Trifleet will acquire and lease the containers on behalf of Textainer, serving as its exclusive manager in the intermodal tank container market.  The collaboration builds on the strength of the two companies:  Trifleet’s expertise and reputation as a premier tank container lessor; and, Textainer’s industry leading size, purchasing power and access to competitive cost of funds.  Both companies will continue to operate independently and to focus on remaining the most reliable supplier of containers in their respective markets.

Intermodal tank containers are used for the transport and storage of liquid foodstuffs, chemicals, and gases.  The manufacturing and operation of tank containers is a strictly regulated activity, requiring specialized expertise. Financial details of the agreement remain confidential; however, both companies expect the collaboration to be immediately accretive to their respective financial results.

“This is an exciting opportunity and major step for Textainer,” commented Philip K. Brewer, President and Chief Executive Officer of Textainer.  “We have long been interested in leasing tank containers, but hesitated due to the need for additional customer relationships and technical expertise which we do not have.  Trifleet is a recognized leader in the tank leasing industry known for its deep expertise and professional service and for the superior quality of its containers.  We view this partnership as a true ‘win-win’ for both companies.”

“We are excited to join forces with Textainer, the industry leader and world’s largest lessor of intermodal containers,” commented Philip J.R. van Rooijen, Managing Director of Trifleet.  “Our partnership will enable us to grow more rapidly due to our increased possibilities to invest, supported by Textainer’s size, strong purchasing power and demonstrated access to low cost financing.  We are proud that Textainer determined that the experience and expertise of Trifleet were essential for its entry into the tank container market.  Apart from our high quality tanks and deep expertise, our customers expect a supply of tank containers whenever they need them. Our partnership with Textainer enables us to further deliver and expand on that commitment.”