Textainer Group Holdings

Last updated
Textainer Group Holdings Limited
NYSE: TGH (prior to 2024)
IndustryRental and leasing services
Founded1979;45 years ago (1979)
FounderKen George, Jim Sullivan [1]
Headquarters
Hamilton
,
Bermuda
Key people
Olivier Ghesquiere (CEO)
Michael Chan (CFO)
Servicesleasing of intermodal containers
Revenue $ 528.97M (Dec 31, 2013) [2]
Owner
Website www.textainer.com
Textainer 40 foot container being loaded Textainer container 2.png
Textainer 40 foot container being loaded

Textainer Group Holdings Limited is a holding company that focuses on purchasing, leasing, and resale of marine cargo containers. There are three business segments: Container Ownership, Container Management, and Container Resale.

Contents

Founded in 1979 by Ken George and Jim Sullivan, the firm has its headquarters located in Hamilton, Bermuda. On March 14, 2024, it was announced that Textainer had been acquired by Stonepeak. [3]

Overview

As of January 22, 2014, the company was the lessor of about two million intermodal containers. It leases containers to more than 400 shipping lines and other lessees.

In October 2012, two months before purchasing a 50.1% interest in TAP Funding Ltd., the firm acquired about 81,000 twenty-foot equivalent units (TEUs) of dry freight containers from managed fleet. In January 2013, Textainer Group Holdings Ltd. (TGHL) acquired about 24,000 twenty-foot equivalent units of standard dry freight containers from its managed fleet.

It owns two subsidiaries, Textainer Equipment Management Ltd. (TEML) and Textainer Ltd. (TL). Textainer's second subsidiary has two other subsidiaries: Textainer Marine Containers Ltd. (TMCL) and TW Container Leasing Ltd. (owned by TL and Wells Fargo Container Corp. [4]

Operations

Textainer operates in 14 regional and area offices: Americas Region in Hackensack, New Jersey; European Region in London; North Asia Region in Yokohama; and the South Asia Region in Singapore. It has more than 400 leasing customers and more than 1,100 container sales customers. [5]

In October 2009, Textainer acquired 31,000 containers (53,000 TEU) of Amphibious Container Leasing Ltd, (Amficon), mostly speciality containers. [6] In May 2011, the firm acquired about 171,000 TEU of containers and related lease rights and working capital ($174 million) that it has been managing for Buss Global since 2006. [7]

In December, 2012, TGHL acquired a 50.1% interest in TAP Funding Ltd. for about $78 million, with many types of container (dry freight, refrigerated). [8] The following year, the company announced their fleet surpassed 3 million TEU, which represented a major milestone for the company as well as the industry. [9]

In January 2014, Textainer Group Holdings Limited completed the acquisition of about 30,000 TEU of standard dry freight containers from its managed fleet ($35 million), which increased the percentage of Textainer’s owned fleet to 77%. [10]

Products and services

The Container Ownership segment owns and leases dry freight containers (also dry freight specials). The Container Management segment offers acquisition and management services. The Container Resale segment sells containers from its fleet (also purchasing, leasing, or reselling containers). The company also provides leased containers under a contract with the Surface Deployment and Distribution Command for the US military. [11]

See also

Related Research Articles

<span class="mw-page-title-main">Freightliner Group</span> Rail freight and logistics company

Freightliner Group is a rail freight and logistics company headquartered in the United Kingdom. It is presently a majority owned subsidiary of the American holding company Genesee & Wyoming.

<span class="mw-page-title-main">COSCO</span> Chinese shipping and logistics services supplier

China Ocean Shipping Company, Limited, formerly China Ocean Shipping (Group) Company, commonly known for its abbreviated name COSCO Group, or simply, COSCO, is one of the major holding companies for COSCO Shipping, one of the world's largest shipping companies. COSCO Shipping was formed in January 2016 by a merger of COSCO and China Shipping Group as one conglomerate. It is a state-owned enterprise.

Team Global Express operates a logistics and global freight forwarding network spanning 150 countries, with over 20,000 customers. Toll has more than 16,000 team members across 500 sites.

<span class="mw-page-title-main">CMA CGM</span> French shipping company

CMA CGM is a French shipping and logistics company founded in 1978 by Jacques Saadé.

<span class="mw-page-title-main">COSCO Shipping Development</span> Chinese financing and logistics firm

COSCO Shipping Development Co., Ltd., stylized as COSCO SHIPPING Development is a financial services company based in Shanghai, China.

<span class="mw-page-title-main">Pacific National</span> Australian rail transport company

Pacific National is one of Australia's largest rail freight businesses.

<span class="mw-page-title-main">GATX</span> Equipment finance company

GATX Corporation is a railcar lessor that owns fleets in North America, Europe, and Asia. In addition, jointly with Rolls-Royce Limited, it owns one of the largest aircraft spare engine lease portfolios. It is headquartered in Chicago, Illinois. As of December 31, 2020, the company owned 148,939 rail cars, including 83,959 tank cars, 64,980 freight cars, and 645 locomotives. Other major car types owned include covered hoppers, open-top hopper cars, and gondolas. It primarily serves the petroleum industry, chemical industry, food industry, mining industry, and transportation industry.

<span class="mw-page-title-main">Genesee & Wyoming</span> American railroad holding company

Genesee & Wyoming Inc. (G&W) is an American short line railroad holding company, that owns or maintains an interest in 122 railroads in the United States, Canada, Belgium, Netherlands, Poland, and the United Kingdom; and formerly in Australia.

Sinotrans Shipping Ltd. is one of the largest shipping companies in China and a listed subsidiary of China Merchants Group headquartered in Hong Kong. It is engaged in vessel time and voyage chartering through its Dry Bulk Shipping and Container Shipping segments, alongside freight and container forwarding and container line services. The firm also provides shipping agency and fleet management services and ships liquefied natural gas, among other activities.

<span class="mw-page-title-main">GE Capital Rail Services</span> Former American railcar leasing company

GE Capital Rail Services, also known as GE Railcar, or GE Railcar Services Corporation was a business unit of GE Capital, a division of General Electric. It was a distinct business unit from General Electric's railway locomotive manufacturer.

International Container Terminal Services, Inc. (ICTSI) is a global port management company headquartered in Manila, Philippines. Established in 1916, ICTSI is the Philippines' largest multinational and transnational company, having established operations in both developed and emerging market economies in Asia Pacific, the Americas, and Europe, the Middle East and Africa. The company is ranked the eighth largest container terminal operator, according to TEU equity volume.

<span class="mw-page-title-main">HMM (company)</span> South Korean shipping line

HMM Company Limited, formerly known as Hyundai Merchant Marine, is a South Korean container transportation and shipping company.

TFI International Inc. is a Canadian transport and logistics company based in Saint-Laurent, Quebec, a borough of Montreal. It operates primarily in Canada, the United States, and Mexico through 4 business segments: less than truckload (LTL), package and courier, logistics, and truckload. It has Canada's largest LTL business, largest trucking fleet, and in 2021 was ranked 6th in terms of revenue among both LTL and truckload North American carriers. Its trucking fleet consists of over 14,000 company-owned power units, nearly 10,000 owner-operator tractors, nearly 50,000 trailers and over 200 straight trucks.

European Ferries Group plc was a company that operated in passenger and freight ferries, harbour operation and property management in the United Kingdom and the United States. It was taken over by the Peninsular and Oriental Steam Navigation Company and renamed P&O European Ferries in 1987.

<span class="mw-page-title-main">TransContainer</span>

TransContainer is a Russian transportation company, Russia's largest railway container operator. The Company provides a full range of transportation and logistics services in integration with other assets of Delo Group. It is Russia's main intermodal container transport and integrated logistics company; it transports over a million TEUs per year.

<span class="mw-page-title-main">Ben Line Agencies</span> Transport company

The Ben Line or Ben Line Steamers, Limited was a Scottish shipping company based in Leith, Scotland founded in 1825 which was primarily involved in the Far East to Europe trade. A private company, it was largely owned by members of the Thomson family from Leith and the Thomson and Mitchell family from Alloa.

Boasso Global, formerly known as Quality Distribution, Inc. (Quality), is a Tampa, Florida-based ISO tank services provider. On August 18, 2015, Quality completed its previously announced merger agreement with funds advised by Apax Partners LLP on May 6, 2015. In 2021, Quality sold its Quality Carriers bulk liquid chemical truck transportation business to CSX Corporation and rebranded to Boasso Global. In October 2022, Apax Partners sold Boasso Global to KKR.

<span class="mw-page-title-main">COSCO Shipping</span> Chinese shipping and logistics services supplier

China COSCO Shipping Corporation Limited, abbreviated as COSCO Shipping, is a Chinese state-owned multinational conglomerate headquartered in Shanghai. The group is focused on marine transportation services. COSCO Shipping was established in January 2016 by the merger of COSCO Group and China Shipping Group.

<span class="mw-page-title-main">COSCO Shipping Lines</span> Chinese container shipping company

COSCO SHIPPING Lines Co., Ltd. is a Chinese international container transportation and shipping company. It is a subsidiary of COSCO Shipping Holdings, and its parent company is China's state-owned COSCO Shipping.

<span class="mw-page-title-main">ArcBest</span> American transportation holding company

ArcBest Corporation is an American holding company for truckload and less-than-truckload (LTL) freight, freight brokerage, household good moving, and transportation management companies. Historically, the company also owned furniture, banking, and other diverse subsidiaries. The company ranked fifteenth among for-hire carriers in the US for 2020 according to industry journal Transport Topics.

References

  1. ↑ "Company History".
  2. ↑ "Company Key Statistics".
  3. ↑ "Stonepeak Completes Acquisition of Textainer". FOX8. Retrieved 2024-03-14.
  4. ↑ "Company Business Summary".
  5. ↑ "About The Company".
  6. ↑ "Textainer to Acquire Containers from Amficon".
  7. ↑ "Textainer to Acquire Containers from Buss Global".
  8. ↑ "Textainer Acquires Majority Interest in 99,000 TEU Managed Container Fleet".
  9. ↑ "Textainer Announces Major Milestone in Surpassing 3 Million TEU Fleet".
  10. ↑ "Textainer Acquires 30,000 TEU from Managed Container Portfolio".
  11. ↑ "Company Full Description". Archived from the original on 2014-03-10.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.