Ontario Teachers’ Pension Plan Board has reached an agreement to sell an equity stake in SeaCube Container Leasing, one of the largest operating lessors of intermodal containers in the world, to Wren House Infrastructure Management. Financial terms were not disclosed.
Ontario Teachers took SeaCube private in 2013. The company provides best-in-class equipment solutions and, throughout the past few years, has been the largest purchaser of refrigerated containers for the industry. The company has taken a forward-looking approach by investing in sustainable solutions to help customers reduce their carbon footprints.
Under the terms of the deal, Ontario Teachers and Wren House will operate under a co-control structure of the container leasing company.
“We see strong demand in the business — driven largely by increased trade volumes for perishable goods — and are excited at this opportunity to partner with Wren House and leverage their global expertise and fre