Across many strands of the container supply chain the big names keep getting bigger. Japan’s Mitsubishi HC Capital has announced this week it is merging two subsidiaries, CAI International and Beacon Intermodal Leasing, to create the world’s third largest container leasing company. The merger is planned to become effective on January 1 with the Beacon brand disappearing. The newly enlarged CAI will be headquartered in San Francisco and led by CEO, Timothy Page.
“With the financial strength of Mitsubishi HC Capital, along with marketing and technical expertise of the CAI and Beacon organisations, we look forward to expanding the relationships we have with our customers and other business partners,” Page commented.
Mitsubishi HC Capital first entered the container leasing business in 2014 with the acquisition of Beacon. In November 2021, Mitsubishi HC Capital expanded its container leasing business with the acquisition of CAI. Together, the combination of CAI and Beacon have a fleet of 3.5m teu, representing approximately $6bn in revenue earning assets.