Peacock Group Holdings has signed contracts to acquire a portfolio of 9,000 tank containers and associated operating and financial leases from the Gem Containers Limited.
The acquired fleet consists of a variety of tank container types, early in their asset life cycle.
The addition of the Gem assets was concluded following exclusive negotiations and will boost Peacock’s total fleet to 16,500 tank containers, resulting in Peacock moving into the top six tank container lessors globally.
Combining the fleet of Gem assets with Peacock leads to a reduction in average asset age, while increasing the average remaining contract term and offering various operational synergies.
Nicola Palmer, the Arcus Partner responsible for the Peacock acquisition, said: “The addition of the Gem tank containers to Peacock’s fleet fits exactly with our ambition to create scale in this growing market and strengthen Peacock’s strong market position and further diversity its customer base.”
Jesse Vermeijden, Peacock CEO, added: “Peacock is looking forward to working with the Gem customers who lease the acquired tank containers, and being able to offer all of our customers the advantages of a larger combined fleet.”
Ian Harding, Arcus Co-Managing Partner and Head of Origination, stated: “The follow-on acquisition by Peacock demonstrates the ability of Arcus and our portfolio companies to successfully execute on growth or roll-up strategies in respect of stable and attractive infrastructure assets.
“The tank container market has proven resilient over the last years, including during the global COVID-19 pandemic. With its expanded young fleet, we are convinced that Peacock will be able to serve well its existing and new customers for the long term.”
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