Stonepeak is planning to acquire Textainer, one of the world’s largest lessors of intermodal containers, in a deal representing an enterprise value of $7.4 billion.
Operating since 1979, Textainer now has a total of 4.5 million 20-foot equivalent units (TEU) in its owned and managed fleet. The company supplies standard dry freight, specialized and refrigerated containers to around 200 global customers, including all of the world’s leading shipping lines. Textainer leases tank containers through its relationship with Trifleet Leasing and serves as a long-standing supplier to the U.S. military.
With the transaction, Textainer’s shareholders will receive $50 per share in cash, with the total value of the common shares equaling approximately $2.1 billion, and Textainer will become a privately held company. The purchase price represents a premium of approximately 46 percent over Textainer’s closing share price on Oct. 20, the last full trading day prior to the trans