French tank container lessor Eurotainer has acquired Dutch competitor Taylor Minster Leasing (TML) for an undisclosed sum.
Founded in 1975 and independently-owned until now, TML has offices in Belgium, the Netherlands, Luxembourg, the UK, Texas and Singapore. It has around 5,000 standard tanks available for leasing, according to the company website, as well as containers for liquefied and cryogenic gases.
The acquisition has allowed Eurotainer to expand its reach with an office in the British Isles. The company is part of France’s Ermewa logistics group, which also operates in big-ticket leasing and is in turn owned by SNCF Logistics, part of France’s state-owned railway company.
Outside its home country, Eurotainer has offices in Germany, Russia, China, Japan, Australia and Brasil. Following the acquisition, it now operates some 44,000 containers and small portable tanks globally. Next to leasing, the company also offers management, tracking and maintenance services.
“With this acquisition, Eurotainer will strengthen its global leadership in the leasing of gas and cryogenic tank containers, focusing on its long established and recognized strategy of providing the largest specialized fleet of equipment worldwide,” Eurotainer said.
The container leasing sector has been on a recovery trajectory for the last year, after hitting a decade-low in 2016. Shipping consultancy Drewry warned in July on a squeeze on margins, despite rising lease rates.