Triton International Ltd. announced a long-term strategic partnership Tuesday with Sumitomo Mitsui Finance and Leasing Co. Ltd., marking the Japanese firm’s entry into the container leasing market.
As part of the agreement, SMFL acquired a minority stake in Triton Container Finance VIII LLC, one of Triton’s leased container portfolios. The deal also includes an option for SMFL to invest in additional Triton assets in the future.
“We are excited about this investment by SMFL, a global leader in leasing and equipment finance,” said Brian Sondey, Triton’s CEO. “We look forward to growing this partnership for many years to come.”
Masaki Tachibana, president of SMFL, called the partnership a significant milestone.
“This transaction marks SMFL’s entry into the container leasing sector, and we are very pleased that it will be in partnership with the largest container leasing business in the world,” Tachibana said.
Triton, based in Bermuda, is the world’s largest lessor of intermodal freight containers, with a fleet of about 7 million twenty-foot equivalent units. The company handles the acquisition, leasing, re-leasing and sale of various types of containers and chassis.
SMFL is one of Japan’s leading leasing firms and an affiliate of Sumitomo Mitsui Financial Group and Sumitomo Corp. It has operated for more than 60 years.
