Bravia Capital (Bravia) of Hong Kong, today announced the completion of the acquisition of GE SeaCo, the world’s fifth largest marine container leasing company. The company has been rebranded as “Seaco”. Seaco owns and manages over 870,000 20-foot equivalent units, the industry’s standard measure. All of Seaco’s key management, including CEO David G. Amble, will remain with the company.
The transaction includes the divestiture by GE Capital and SeaCo Ltd. of all of their interests in the business to be known as Seaco as well as fleets of containers they owned separately. The total enterprise value of the transaction is approximately US$ 2.5 billion.
“The GE SeaCo transaction underscores our successful track record of acquiring and integrating top-tier, asset-heavy businesses within the transportation and logistics sectors.” said Bharat Bhisé, CEO of Bravia Capital. “The addition of a world-class business like Seaco represents a watershed event in our overall strategy to leverage our core competencies in transportation finance. This is evidenced by the strong support we received in financing the purchase from a number of lenders during one of the most difficult debt markets in recent history. We have now completed 7 investments totaling over US$ 7 billion in enterprise value over the past 2 years. I believe we are in a unique position of providing both liquidity and strategic value to well managed transportation businesses globally.”
“We are pleased to be a critical component in Bravia’s growth strategy for transportation and logistics,” said Seaco CEO David G. Amble. “Their vision, support and expertise will help propel our business worldwide. Feedback from our customers and our employees has been overwhelmingly positive, and all of our stakeholders are excited to begin a new chapter in our rich history.” “The retention of our entire employee/management team is an especially pleasing outcome of this transaction. It will result in new growth opportunities for our employees and ensure that our valuable customer and supplier relationships will be maintained and enhanced,” continued Mr. Amble. “We believe that the company is entering a new era of opportunity and growth.”
About Bravia Capital
Bravia Capital is a Hong Kong based investment firm entity with a primary focus on transportation and logistics investments worldwide. Please find more information at braviacapital.com.