CSI Leasing Announces Investment by Century Tokyo Leasing Corporation
March 23, 2015ST. LOUIS (March 23, 2015) – CSI Leasing, Inc. (“CSI”) is pleased to announce that it has reached an agreement with Century Tokyo Leasing Corporation (“CTL”), one of the largest leasing companies in Japan, on the purchase of approximately 35 percent of the common stock of CSI.
CSI is one of the largest privately-held equipment leasing and equipment lifecycle companies in the U.S. and has operations in 30 countries worldwide. CTL offers an extensive range of products, including IT and automobile leasing, as well as highly specialized financings in real estate, shipping, aircraft, healthcare and environmental energy. Like CSI, CTL has an extensive overseas network and operates in more than 10 countries worldwide.
CSI and CTL have transacted business together since 2003 and have engaged in joint marketing efforts since 2012. A strategic alliance between CSI and CTL will complement CSI’s presence in the Asia-Pacific region and other markets, and will allow CTL to access CSI’s strong platforms in the U.S., Canada, Mexico, Central and South America, and Europe.
“This is a great opportunity in the ongoing evolution of our company,” said CSI founder and chairman, Ken Steinback. “We will be working together with a strong and creative team from CTL who appreciates the strength and durability of our customer-focused business model. The entire CSI marketing and back office teams remain in place and it is business as usual for our customers.”
The transaction is expected to close by March 31, 2015 and CTL will assume two seats on CSI’s Board of Directors.