Beacon Intermodal Leasing Acquired by Mitsubishi UFJ
NOV 17, 2014 - 7:51 am
Beacon Intermodal Leasing announced it became a wholly-owned subsidiary of Mitsubishi UFJ Lease & Finance (MUL). The transaction closed on November 13, 2014. Beacon is a marine container leasing company with a fleet of approximately 600,000 TEU of marine cargo containers valued in excess of $1.2 billion.
Jeffrey S. Gannon, Beacon’s president, remarked, “We are excited to join the MUL group of companies and equally excited to remain a component of the Mitsubishi UFJ Financial Group (MUFG), one of the world largest financial services organizations.
Strategically aligning Beacon with MUL, the non-banking, global operating lease platform associated with MUFG, better positions us to manage our business and to support the needs of our customers. Partnering with a globally renowned asset finance company with a strong financial background will further provide us the opportunity to take advantage of growth opportunities in the future.”
Any relationship with a parent is fraught with complications. And equipment finance businesses sometimes find themselves in difficult family situations— grateful for a home and support but knowing that their vision and expertise is sometime at odds with the parent.... read more
Life today is beginning to resemble normalcy. But before we rapidly go back to what was, it’s important to take stock of what we’ve learned over the last 16 months and use the knowledge we’ve gained to guide us as... read more