Ontario Teachers' to Sell Equity Stake in SeaCube Container Leasing Ltd. to Wren House

WOODCLIFF LAKE, N.J. - Oct. 5, 2023 - PRLog -- Ontario Teachers' Pension Plan Board (Ontario Teachers') today announced that Wren House Infrastructure Management Limited (Wren House), a global infrastructure investment manager, has agreed to purchase an equity stake in SeaCube Container Leasing Ltd. Ontario Teachers' took the company private in 2013. Under the terms of the deal, Ontario Teachers' and Wren House will operate under a co-control structure of the container leasing company.

SeaCube Container Leasing is one of the largest operating lessors of intermodal containers in the world. The company provides best-in-class equipment solutions and has taken a forward-looking approach by investing in sustainable solutions to help customers reduce their carbon footprints. Additionally, SeaCube has played a leading role in driving growth across the global containerized trade industry.

Philippe Busslinger, CEO of Wren House, said: "We are excited to partner with SeaCube's exceptional management team and Ontario Teachers' to accelerate the Company's growth plans. As SeaCube's global clients seek to increase efficiency, reliability and reduce their carbon footprint, SeaCube is best positioned as their partner of choice to meet their growing demand and expectations for intermodal transport. This investment fits Wren House's strategy of building a global and resilient infrastructure portfolio with outstanding management teams and aligned partners."

Bob Sappio, Chief Executive Officer, SeaCube Container Leasing, said: "We've had the privilege of having Ontario Teachers' as an extension of our internal team and are grateful for how they've supported our strategic growth ambitions. Over the past few years, SeaCube has been the largest purchaser of refrigerated containers for the industry. We see tremendous upside potential for our industry and look forward to continuing to partner with Ontario Teachers' and having the opportunity to work alongside the Wren House team as well – a company with deep expertise in the container leasing sector."

Jeff Markusson, Senior Managing Director, Financial Services, Ontario Teachers', said: "SeaCube is an attractive business with a strong, proven management team. Over the past decade, we have been delighted to support Bob Sappio and his team as they have re-focused the strategic direction of the company towards refrigerated equipment and the cold chain among other strategic initiatives. 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 fresh perspectives to help accelerate SeaCube's growth."