Global Container International (GCI), a company specializing in container leasing, is being acquired by Triton International.
The purchase price is quoted at USD 1 billion and the transaction is expected to be completed in the first half of 2025.
Since its foundation in 2018, Boston-based GCI has concluded numerous leasing agreements with liner shipping companies. The total volume amounts to over half a million TEU, which have been leased on a long-term basis. This has made GCI one of the main suppliers of intermodal equipment for its customers.
Commenting on the acquisition by Triton, CEO Jeffrey Gannon and COO Adrian Dunner said: “As we close this exciting chapter, we would like to express our deepest gratitude to our customers, supplier partners and dedicated employees, who have all played a critical role in our long-term success.”
“GCI has built an efficient and scaled business from the ground up with a diversified portfolio of long-term contracts,” said Edward Tsai, Managing Director of longtime partner Wafra. “This transaction underscores the value the company has created over the past seven years.”
Triton is thus increasing its own container volume, which at 7 million TEU is the largest in the world. The company was itself acquired by Brookfield in 2023 for $4.7 billion. “The GCI team has built an impressive business with a well-structured long-term leasing portfolio,” said Triton CEO Brian Sondey. “This acquisition is an excellent strategic fit for Triton that will enable us to achieve significant growth in our container fleet.”
