Stonepeak, the New York-headquartered alternative investment firm, has completed the $7.4 billion acquisition of Bermudian-based Textainer Group Holdings Ltd, one of the world’s largest lessors of intermodal containers.

“Today we embark on Textainer’s exciting next chapter with a renewed commitment to delivering high-quality equipment and best-in-class service to our customers worldwide,” said Olivier Ghesquiere, president and chief executive officer.

“Over the years, we have established Textainer as our customers’ ‘first call’ for containers, and we look forward to continuing to earn our customers’ trust while growing with them.

“We’re pleased to have found a great partner in Stonepeak, whose industry expertise and resources position us well to achieve our long-term goals. We’d like to thank our employees, whose hard work and dedication will continue to be the foundation of our success as part of Stonepeak.”

James Wyper, senior managing director at Stonepeak, said: “We are excited to close this transaction with Textainer and are optimistic about the opportunities ahead for the company.

“As one of the largest intermodal container leasing companies in the world, Textainer has continued to prove its importance as a critical link in the global supply chain.

“By leveraging Stonepeak’s experience and focusing on capital discipline, operational improvements, and excellent customer service, we believe Textainer will be well positioned for the future.

“Olivier and the talented team at Textainer have done an excellent job of executing on the company’s strategy to date and we look forward to partnering closely with the team as the company continues to grow.”