SAN FRANCISCO, Feb. 13 /PRNewswire/ -- GATX Capital Corporation announced
today that it has purchased the U.S. information technology lease portfolio of
El Camino Resources, Ltd. The acquired assets will be integrated into the
operations of GATX Technology Services making GATX one of the world's leading
independent IT lessors. The purchase amount included $129.7 million in cash
and the assumption of $243.1 million of non-recourse debt.
The assets acquired consist of information management systems on lease to
businesses across the U.S. The equipment includes network switches,
communications systems, servers, desktop computers, printers and related
equipment and software. These assets will be combined with the similar lease
portfolio of GATX Technology Services and managed from its offices in Tampa,
Florida.
Ed Mihm, senior vice president and head of GATX Technology Services said,
"We are excited about the scale of this acquisition, which will make GATX one
of the world's leading independent information technology lessors. It
strengthens our platform for growth in technology services and it diversifies
our technology leasing investment with an increased proportion of midrange
equipment. In addition, the majority of El Camino leasing sales professionals
have joined the GATX Technology Services team. Also joining GATX are key
professionals responsible for managing the lease portfolio. These additions
allow us to expand our U.S. technology services network with seasoned
professionals."
Jesse Crews, CEO of GATX Capital Corporation, said, "This acquisition of
technology assets and strong sales personnel positions us for accelerated
growth in technology leasing to Fortune 1000 customers. This investment fits
the overall GATX strategy of re-deploying financial resources into our higher
growth, higher margin businesses."
GATX also pursues information technology leasing through its partnerships
with Lombard (Royal Bank of Scotland) in the U.K., Deutsche Leasing in Germany
and OMNI Financial Investments Ltd. in Australia.
GATX Capital Corporation is a wholly-owned subsidiary of GATX Corporation
(NYSE: GMT), a unique finance and leasing company combining asset knowledge
and services, structuring expertise, creative partnering and risk capital.
GATX Corporation provides sophisticated leasing and financial services
responsive to the specialized needs of a range of businesses. In addition to
offering information technology leases, GATX specializes in railcar and
locomotive operating leasing, aircraft operating leasing, venture finance, and
financing solutions for customers in a diversity of industrial sectors,
worldwide.
SOURCE GATX Capital Corporation
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CONTACT:
George Lowman of GATX Corporation,
312-621-6599
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