SAN FRANCISCO--(BUSINESS WIRE)--Mitsubishi HC Capital Inc. (Representative Director, President & CEO: Takahiro Yanai, “Mitsubishi HC Capital”), today announces that its Executive Committee has approved the merger of two group companies, CAI International, Inc. (President & CEO: Timothy Page, “CAI”) and Beacon Intermodal Leasing, LLC (President & CEO: Katherine McCabe, “Beacon”). The merger is planned to become effective January 1, 2023. The combined company, CAI, will be headquartered in San Francisco, California and led by CEO, Timothy Page, and President, Katherine McCabe.
Mr. Page commented, “We are excited to make this announcement today. We are one team, with a long-term vision of providing consistent, exceptional service to our customers.” Ms. McCabe added, “With the financial strength of Mitsubishi HC Capital, along with marketing and technical expertise of the CAI and Beacon organizations, we look forward to expanding the relationships we have with our customers and other business partners.”
Mitsubishi HC Capital, which is listed on the Tokyo Stock Exchange and Nagoya Stock Exchange, is the second largest leasing company on a total assets basis in Japan, with total assets of 10,734 billion yen (approximately US$78 billion as of the end of June 2022). Mitsubishi HC Capital operates globally in multiple sectors, including container leasing, rail car leasing, aircraft leasing, aircraft engine leasing and automotive leasing. Mitsubishi HC Capital first entered the container leasing business in 2014 with the acquisition of Beacon. In November 2021, Mitsubishi HC Capital expanded its container leasing business with the acquisition of CAI. Together, the combination of CAI and Beacon represents the world’s third largest container leasing company on a CEU basis with a fleet of 3.5 million TEU of containers, representing approximately US$6 billion in revenue earning assets.