London, United Kingdom (19 April 2021) – Arcus Infrastructure Partners (“Arcus”) is pleased to announce that Peacock Group Holdings B.V. and its affiliated entities (“Peacock”), recently signed contracts to acquire a portfolio of c. 9,000 tank containers and associated operating and financial leases from the Gem Containers Limited (“Gem”).
The acquired fleet consists of a variety of tank container types, early in their asset life cycle, with solid long term leases to reputable clients. The addition of the Gem assets was concluded following exclusive negotiations with the sellers and will boost Peacock’s total fleet to c. 16,500 tank containers, resulting in Peacock moving into the top six tank container lessors globally. Combining the fleet of Gem assets with Peacock leads to a reduction in average asset age, while increasing the average remaining contract term and offering various operational synergies.
Nicola Palmer, the Arcus Partner responsible for the Peacock acquisition, commented: “The addition of the Gem tank containers to Peacock’s fleet fits exactly with our ambition to create scale in this growing market and strengthen Peacock’s strong market position and further diversity its customer base.”
Jesse Vermeijden, Peacock CEO, stated: “Peacock is looking forward to working with the Gem customers who lease the acquired tank containers, and being able to offer all of our customers the advantages of a larger combined fleet.”
Ian Harding, Arcus Co-Managing Partner and Head of Origination, stated: “The follow-on acquisition by Peacock demonstrates the ability of Arcus and our portfolio companies to successfully execute on growth or roll-up strategies in respect of stable and attractive infrastructure assets. The tank container market has proven resilient over the last years, including during the global Covid-19 pandemic. With its expanded young fleet, we are convinced that Peacock will be able to serve well its existing and new customers for the long term”.
This is Arcus’ second investment in the tank container sector having recently acquired Peacock in February 2021.
Arcus was advised by ABN AMRO Bank (financial), Stephenson Harwood and Simmons & Simmons (legal), and EY (tax).
Peacock is an ISO tank container leasing company owning and operating a fleet of tank containers with capacities between 13,000 and 35,000 litres. With a solid commercial, operational and technical approach they offer leasing solutions for a variety of containers suitable for producers and transportation companies active in the international chemical, specialised gas and food processing industries. Beside immediate availability of standard ISO tanks Peacock also offers tailor made ISO tanks which best suit customer requirements. However, Peacock’s service goes above and beyond traditional rental or leasing and includes fleet management solutions, logistical support and supply chain optimisation. The Company operates primarily out of Singapore and Rotterdam and via agents in the US and Middle East.
For further information: www.peacockcontainer.com
Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and special co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value in excess of €19bn (as of 31 December 2020). Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the transportation, energy and telecommunications sectors.
For further information: www.arcusip.com
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