CAI International closed its previously reported agreement to sell all of its remaining railcar fleet to Infinity Transportation for $228.1 million.

“The closing of the sale of our remaining railcar fleet completes the commitment we made to divest our non-core assets and will allow us to maximize shareholder returns by focusing all of our resources on our core container leasing business,” Timothy Page, interim president and CEO of CAI, said.

CAI is a transportation finance company. As of Sept. 30, 2020, it operated a worldwide fleet of approximately 1.7 million CEUs of containers. CAI operates through 14 offices located in 12 countries, including the United States.

Infinity Transportation, a subsidiary of Global Atlantic Financial Group, provides net and full-service leases as well as other structured financing solutions for clients in the rail, aviation and intermodal industries.