Skip to content

Ontario Teachers’ Reaches Agreement to Sell Equity Stake in SeaCube Container Leasing Ltd. to Wren House

London, UK, Woodcliff Lake, New Jersey, & Toronto, Canada – October 4, 2023 – Ontario Teachers’ Pension Plan Board (Ontario Teachers’) today announced that Wren House Infrastructure Management Limited (Wren House), a global infrastructure investment manager, has agreed to purchase an equity stake in SeaCube Container Leasing Ltd. Ontario Teachers’ took the company private in 2013. Under the terms of the deal, Ontario Teachers’ and Wren House will operate under a co-control structure of the container leasing company.

SeaCube Container Leasing is one of the largest operating lessors of intermodal containers in the world. The company provides best-in-class equipment solutions and has taken a forward-looking approach by investing in sustainable solutions to help customers reduce their carbon footprints. Additionally, SeaCube has played a leading role in driving growth across the global containerized trade industry. 

Philippe Busslinger, CEO of Wren House, said: “We are excited to partner with SeaCube’s exceptional management team and Ontario Teachers’ to accelerate the Company’s growth plans. As SeaCube’s global clients seek to increase efficiency, reliability and reduce their carbon footprint, SeaCube is best positioned as their partner of choice to meet their growing demand and expectations for intermodal transport. This investment fits Wren House’s strategy of building a global and resilient infrastructure portfolio with outstanding management teams and aligned partners.” 

Bob Sappio, Chief Executive Officer, SeaCube Container Leasing, said: “We've had the privilege of having Ontario Teachers’ as an extension of our internal team and are grateful for how they've supported our strategic growth ambitions. Over the past few years, SeaCube has been the largest purchaser of refrigerated containers for the industry. We see tremendous upside potential for our industry and look forward to continuing to partner with Ontario Teachers’ and having the opportunity to work alongside the Wren House team as well – a company with deep expertise in the container leasing sector.”

Jeff Markusson, Senior Managing Director, Financial Services, Ontario Teachers’, said: “SeaCube is an attractive business with a strong, proven management team. Over the past decade, we have been delighted to support Bob Sappio and his team as they have re-focused the strategic direction of the company towards refrigerated equipment and the cold chain among other strategic initiatives. We see strong demand in the business – driven, largely, by increased trade volumes for perishable goods – and are excited at this opportunity to partner with Wren House and leverage their global expertise and fresh perspectives to help accelerate SeaCube’s growth.”

J.P. Morgan Securities LLC and TD Securities served as financial advisors to Wren House in connection with the transaction, and Latham & Watkins LLP and Sidley Austin LLP served as its legal advisors. 

RBC Capital Markets, LLC served as exclusive financial advisor to Ontario Teachers’, and Sullivan & Cromwell LLP, Conyers Dill & Pearman Limited, and Linklaters LLP served as its legal advisors.

About Ontario Teachers' 

Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of $249.8 billion as at June 30, 2023. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.

With offices in Toronto, London, Hong Kong, Singapore, Mumbai and San Francisco, our more than 400 investment professionals bring deep expertise in a broad range of sectors and industries. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.4% since the plan's founding in 1990. At Ontario Teachers', we don't just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit and follow us on LinkedIn.

About Wren House

Wren House is a global infrastructure investment manager, with a core and core plus mandate and a strong focus on North America and Europe. We focus on delivering attractive risk-adjusted returns across private equity and structured solutions through a disciplined investment approach over a long-term horizon, and responsible active asset management. We believe in partnership and alignment between our team, our co-investors, and our management teams. We work closely with these partners to bring a differentiated, innovative investment approach and to drive value creation. Our portfolio has included investments in airports, ports, water, energy generation (conventional and renewables), electricity distribution and transmission, social and digital infrastructure across the US, UK, Europe, Australia, Central and South America. Wren House is based in London, with an office in New York.

Further information on Wren House and its portfolio is available at:

About SeaCube Container Leasing

SeaCube is one of the largest purchasers and lessors of refrigerated containers in the world and is committed to investing in technologically advanced and innovative equipment solutions that safeguard cargo, improve service reliability, and help its clients reduce their carbon footprints while increasing profitability. SeaCube pairs its differentiated offering with an experienced team of industry professionals to create customized financing programs, provide premier customer support, and deliver added value. For more information, visit

Media Contacts:

Dan Madge
Ontario Teachers' Pension Plan
Phone: +1 416-419-1437

Wren House
Simone Selzer / Philip Bos
Brunswick Group
Phone: +44 (0)207 404 5959 / +44 (0)7515 187438

Ben Thomas, VP Treasurer / Investor Relations
Phone: 201 949 5088