Beijing, China – January 21, 2015 – Bohai Leasing Company (“Bohai”) a leading global transportation equipment and infrastructure finance company and listed on the Shenzhen stock exchange, today announced the completion of the acquisition of Cronos Limited (“Cronos”), a leading global container leasing company, from funds managed by Kelso & Co. and Transportation Capital Group.
Cronos is one of the world’s leading cargo container lessors and an industry leader in specialized container leasing. The company leases dry, refrigerated, tank and specialized intermodal container equipment to users worldwide across a number of industries. Headquartered in San Francisco, CA., Cronos supplies its customers with containers and related services from over 20 locations in 18 countries. Cronos owns approximately $2.5 billion in container equipment and boasts one of the most diversified fleets in the industry.
“Bohai is committed to expansion through the purchase of quality companies and management teams in transportation and infrastructure finance. The acquisition of Cronos into our portfolio will be a strong addition to our existing investment in Seaco Group. With this acquisition and the amalgamation of the two companies, we will now be the largest and most diversified container leasing company in the world by many measures,” said Mr. Wang Hao, Chairman of Bohai.
Bravia Capital, a leading global transportation and infrastructure investment and advisory firm, headquartered in Hong Kong, arranged the transaction.
“The Cronos acquisition highlights Bravia Capital’s commitment in bringing to investors quality companies and assets and developing value creation opportunities in the transportation and infrastructure space. The complementary nature of Cronos and Seaco – both with diversified fleets and strengths in different geographical markets make this an ideal combination which will strengthen Bohai’s global market position,” said Mr. Hal Hayward, Managing Director of Bravia Capital.
About Bohai Leasing Co., Ltd.
Bohai Leasing is a leading China-based public company listed on the Shenzhen stock exchange. It owns and manages leasing companies and investments in aircraft, ships, containers, infrastructure, commercial property, medical equipment, automobiles, high-end equipment and other specialized lending and leasing businesses.
About Bravia Capital
Bravia Capital is a Hong Kong based investment and advisory firm with a primary focus on transportation, logistics, infrastructure and financial service investments worldwide. Bravia have recently completed several key transportation sector acquisitions on behalf of itself and its partners: Thotakã Tecknologies India (2014), Energy Asia Transportation (2014), TIP Trailer Services Group (2013), Africa World Airlines in Ghana (2012), Seaco (2011), MyCargo Airlines (2011), MyTECHNIC (2010), and Hong Kong Aviation Capital (2010). For more information, please go to the company’s web site: www.braviacapital.com.