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.”