M&A Deal Summary

Stonepeak Acquires Textainer

On October 22, 2023, infrastructure investor Stonepeak acquired business services company Textainer for 7.4B USD

Acquisition Highlights
  • This is Stonepeak’s 1st transaction in the Business Services sector.
  • This is Stonepeak’s 2nd largest (disclosed) transaction.
  • This is Stonepeak’s 3rd transaction in Bermuda.

M&A Deal Summary
Date 2023-10-22
Target Textainer
Sector Business Services
Buyer(s) Stonepeak
Deal Type Going Private
Deal Value 7.4B USD
Advisor(s) BofA Securities (Financial)
O'Melveny & Myers (Legal)

Target

Textainer

Hamilton, Bermuda
Textainer is a lessor of intermodal containers with more than 4 million TEU in its managed fleet. The company's fleet consists of standard dry freight, refrigerated intermodal containers, and dry freight specials. Textainer also leases tank containers through its relationship with Trifleet Leasing and is a supplier of containers to the U.S. Military. In addition to selling older containers, it buys older containers from shipping line customers for trading and resale. Textainer was founded in 1979 and is based in Hamilton, Bermuda.

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Buyer(S) 1

Buyer

Stonepeak

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 57.1B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 36 of 38
Sector (Business Services) 1 of 2
Type (Going Private) 4 of 5
Country (Bermuda) 3 of 3
Year (2023) 3 of 3
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-16 Logistec

Montreal, Quebec, Canada

Logistec is a provider of a marine and environmental services. It offers marine transportation services geared primarily to the Arctic coastal trade, short-line rail transportation services, as well as marine agency services to foreign shipowners and operators serving the Canadian market. Logistec was founded in 1952 and is based in Montreal, Canada.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-28 WTG

Midland, Texas, United States

WTG provides comprehensive midstream services including wellhead gathering, intra-basin transportation, and processing services. WTG is based in Midland, Texas.

Sell $3.3B
Mergr

Product

Company

Legal