Triton International Limited has agreed to acquire Global Container International LLC (GCI), a marine intermodal container lessor, in a deal valued at more than $1 billion, including outstanding debt.

The acquisition, expected to close in the first half of 2025 pending regulatory approval, will expand Triton’s market presence in container leasing.

Boston-based GCI, founded in 2018, operates a fleet of about 500,000 twenty-foot equivalent units (TEU) under long-term lease agreements with major global shipping liners. The company grew with backing from funds managed by Wafra Inc., a global investment firm.

“As we conclude this chapter, we are grateful to our customers, vendor partners, and employees who have contributed to our growth,” said Jeffrey Gannon, GCI’s CEO, and Adrian Dunner, COO.

Edward Tsai, managing director at Wafra, noted that GCI had built an efficient and scaled business with a diversified portfolio of long-term contracts. “This transaction highlights the value created over the past seven years,” he said.

Goldman Sachs & Co. LLC served as the exclusive financial advisor to GCI, while Sidley Austin LLP provided legal counsel.