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SeaCube Container files for $165 million IPO

March 29, 2010
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SeaCube Container Leasing, which acquires and leases refrigerated containers, dry freight containers and generator sets to shipping lines around the world, filed on Monday with the SEC to raise up to $165 million in an initial public offering. The Park Ridge, NJ-based company was incorporated in March of 2010 by Seacastle Operating Company, a subsidiary of Seacastle Inc., which is owned by private equity firm Fortress Investment Group. SeaCube Container reported $142 million in sales for the year ended December 31st, 2009. The company plans to list on the NYSE under the symbol SC with J.P. Morgan, Citi, Deutsche Bank and Wells Fargo as the lead underwriters on the deal. Pricing terms and timing were not disclosed.