CAI International buys Sweden-based Consent Equipment AB

SAN FRANCISCO—CAI International Inc., a freight container leasing and management company, said Wednesday it acquired Consent Equipment AB for $15.6 million in cash and the assumption of about $25 million in debt.

The deal closed Wednesday, at the same time as the signing of the purchase and sale agreement.

The Sweden-based company leases European palletwide containers, roll trailers and German swapbodies. It has operations in Sweden, Germany and the United Kingdom, and owns about 3,300 palletwide containers, 1,200 roll trailers and 2,400 German swapbodies.

In connection with the deal, CEAB bought a fleet of 1,200 palletwide containers from an affiliated company, bringing its fleet of palletwide containers to about 4,500 units.

CAI said the acquisition provides it instant access to an important container-related business and diversifies its overall customer base. No job reductions are expected to result from the deal.

The deal is expected to boost the company's 2008 earnings per share by 7 to 10 cents and revenue by about $9 million, CAI said.

CAI shares fell 5 cents to close at $14.70.