Business Wire | Dec 29, 2020 03:23PM EST

CAI International, Inc. Announces the Completion of the Sale of its Railcar Fleet to Infinity Transportation

Dec. 29, 2020

SAN FRANCISCO--(BUSINESS WIRE)--Dec. 29, 2020--CAI International, Inc. ("CAI" or the "Company") (NYSE: CAI), is pleased to announce the closing of its previously reported agreement to sell all of its remaining railcar fleet to Infinity Transportation for $228.1 million.

Timothy Page, Interim President and Chief Executive Officer of CAI, commented, "The closing of the sale of our remaining railcar fleet completes the commitment we made to divest our non-core assets and will allow us to maximize shareholder returns by focusing all of our resources on our core container leasing business."

About CAI International, Inc.

CAI is one of the world's leading transportation finance companies. As of September 30, 2020, CAI operated a worldwide fleet of approximately 1.7 million CEUs of containers. CAI operates through 14 offices located in 12 countries including the United States.

About Infinity Transportation

Infinity Transportation, a subsidiary of Global Atlantic Financial Group, provides net and full-service leases as well as other structured financing solutions that address the logistical and financial needs of its clients in the rail, aviation, and intermodal industries. Infinity Transportation manages a large, diverse portfolio of transportation assets and is led by a veteran management team with a broad range of technical expertise, asset-level knowledge and transaction experience across transportation operations, maintenance and finance.

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CONTACT: David Morris, Vice President Finance, Corporate Controller (415) 788-0100 dmorris@capps.com