Creating the World’s Largest and Most Efficient Container Leasing Company
As previously announced, TAL International and Triton entered into a definitive agreement under which the companies will combine in an all-stock merger of equals transaction.
Transaction Highlights
- Strategic combination establishes world’s largest container leasing company with revenue earning assets of $8.7 billion and an estimated 25% market share
- Profitability enhanced through an improved tax basis and $40 million per year in expected SG&A synergies by the end of 2016
- A transformative, immediately accretive transaction estimated to be approximately 30% accretive to net income per share
- Strong balance sheet and cash flows, with no incremental debt incurred
- Maintains TAL International’s annual dividend of $1.80 per share and increases share repurchase plan to $250 million
Company Backgrounds
Triton was founded in 1980 and is currently owned by Warburg Pincus LLC and Vestar Capital Partners, along with other private investors, including members of Triton management. Triton operates a container fleet of 2.4 million TEU, services its customers through 19 subsidiary offices in 13 countries and is domiciled in Bermuda.
TAL International was founded in 1963 and has been publicly listed since 2005. TAL International operates a container fleet of 2.4 million TEU, services its customers through 17 offices in 11 countries and is domiciled in Delaware.
