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Textainer completes $66M purchase of Leased Assets Pool

Bermuda-based Textainer Ltd. on Dec. 31, 2019, completed its acquisition of Bermuda-based Leased Assets Pool Co. Ltd. for approximately $66 million in cash, or $192 million in assets less outstanding debt of $126 million.

The Textainer Group Holdings Ltd. subsidiary repaid Leased Assets Pools' debt by refinancing it through Textainer's revolving credit facility. Following the acquisition, the percentage of Textainer's owned fleet increased to 85.4% from 80.8%.

Leased Assets Pool was an indirect subsidiary of Trencor Ltd., which owns approximately 5% of Textainer's common shares.