Textainer Expands Global Reach with Seaco Acquisition
Deal News | May 20, 2025 | Stonepeak
Stonepeak's affiliated Textainer has entered an agreement to purchase Seaco from Bohai Leasing for $1.75 billion. Seaco, established in 1965 and incorporated in Bermuda, possesses a fleet of 2.4 million TEU with extensive international operations. Stonepeak, an alternative investment firm with $73 billion in assets, aims to leverage Seaco's strengths for expanded customer offerings and resilience in the dynamic global market. The deal awaits regulatory approvals, with BofA Securities and Simpson Thacher advising Stonepeak, while Deutsche Bank and Hogan Lovells represent Bohai.
Sectors
- Transportation and Logistics
- Private Equity
Geography
- Bermuda – Seaco is incorporated in Bermuda, which is central to the transaction as the legal and operational base of the target company.
- United States – Stonepeak is headquartered in New York, denoting the involvement of a major American investment firm in the acquisition.
Industry
- Transportation and Logistics – The article involves companies engaged in marine container leasing, impacting global shipping operations and logistical strategies.
- Private Equity – Stonepeak, a private equity firm, is actively involved in the acquisition, showcasing the role of private investment in infrastructure and logistics.
Financials
- $1.75 billion – The equity purchase price for Seaco by Stonepeak's Ascend Ltd.
- 2.4 million TEU – The scale of Seaco's container fleet, illustrating the significant operational capacity involved in the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stonepeak | PE Firm | Company | Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $73 billion of assets under management. |
| Textainer | Acquirer | Company | A major lessor of intermodal containers with a fleet of 4.5 million TEUs, providing leasing to top international shipping lines. |
| Seaco | Target | Company | A marine container leasing company with a global footprint, previously owned by Bohai, managing over 2.4 million TEU. |
| Bohai Leasing Co., Ltd | Seller | Company | A company listed on the Shenzhen Stock Exchange, previously owning Seaco. |
| BofA Securities | Financial Advisor | Company | Exclusive financial advisor to Stonepeak. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Legal counsel to Stonepeak. |
| Deutsche Bank Securities Inc. | Financial Advisor | Company | Exclusive financial advisor to Bohai and its subsidiaries. |
| Hogan Lovells | Legal Advisor | Company | Legal counsel to Bohai and its subsidiaries. |