Mitsubishi UFJ Lease & Finance Company (MUFJ) has acquired Engine Lease Finance Corporation (ELF), an aircraft engine leasing company, in addition to equity interests of Beacon Intermodal Leasing, LLC (Beacon) a marine container leasing company.
A spokesman for MUFJ said: “This acquisition enables us to build a business platform for enhancing variations and functions of global asset outlined in one of its priority strategies such as aircraft engines and containers in addition to aircraft, vessels and railcars.”
MUFJ aims to extend its business activities involving global assets - especially “in which high marketability and value on assets can be found and recognized globally by exploiting capabilities in the businesses. In addition to adding flexibility and mobility as a non-bank”.
ELF is a leading independent spare engine financing and leasing company, headquartered in Ireland and specializing in the provision of flexible, medium to long-term spare engine support packages for the airline industry.
ELF’s president and CEO, Jon Sharp, said: "We are very excited by this move to MUFJ. MUFJ is one of Japan’s largest leasing companies and is renowned for its innovative approach to asset finance and for aggressively expanding its global business activities.
“We are being encouraged to grow and to develop our business model, including transitioning into new areas, and being more flexible and creative in our existing well-proven sphere of business. We anticipate strong support for sustainable growth, for development of new products, including greater integration of the value chain and facilitation of timely responses to customer needs, improving on what we have done well for the last 25 years.”
He added: “This is a great way to celebrate ELF’s twenty-fifth anniversary.”
Beacon Intermodal Leasing is a Boston, US-based industry-leading lessor of intermodal marine cargo containers. It specializes in offering tailored leasing options for both dry and refrigerated containers to the world's shipping companies.
Beacon invests in both dry and refrigerated containers and expects significant portfolio growth as the world's container fleet continues to expand. Beacon's strategy is to be recognized as a strong and dependable supplier of high quality containers offered for lease at competitive prices. MUFJ was established in 1971 and is an industry leading comprehensive finance company headquartered in Japan. The company is actively involved with leasing and finance, global asset ownership and management, real estate and other domestic and international businesses.
The MUFJ group provides many different financial services, including not just finance leases but also operating leases focused on asset values, as well as auto finance, real estate-related finance, PFI business, and factoring. The group is also engaged in the trading of used equipment, insurance, and offers services to customers based overseas.
