Global container lessor CS Leasing has changed hands, with New York-based ITE Management acquiring the business in a deal that shifts ownership of one of the sector’s larger specialist fleets.

The transaction, completed through ITE-managed funds for an undisclosed price, sees the US investor take control of a platform focused on ISO tank containers and dry freight specials. CS Leasing, headquartered in San Francisco, operates about 55,000 units worldwide and is ranked as the fourth-largest tank container lessor.

The company will continue to serve its existing customer base across chemical, food, industrial and mining markets, where demand for specialised equipment and reliable fleet performance remains steady, ITE said, adding that the acquisition adds a new segment to its broader transport portfolio, but the deal is primarily about bringing CS Leasing into new ownership with backing from an infrastructure-focused investor.

Jennifer Polli, managing director and head of intermodal at ITE, said the business fits the group’s wider scope across freight. “Global freight flows span both land and sea, where tank containers operate as a railcar over the ocean and serve as a natural extension of both ITE’s core focus and our intermodal strategy,” she said, pointing to the global and operational nature of the segment.

For CS Leasing, the change in ownership is expected to support further growth and fleet deployment. Chief executive Frank Vaughan said the new shareholder brings alignment and scale. “ITE brings deep operational insight, long-term alignment, and a shared commitment to fleet quality and execution,” he noted, adding the deal will help expand access to specialised containers through flexible leasing and ownership structures.

The sale comes as investor interest in intermodal and specialist container assets continues to build, with platforms like CS Leasing offering exposure to global trade flows that move across ship, rail and road.

ITE, founded in 2014, manages about $11.5bn in industrial transport assets, and the addition of CS Leasing marks another step in the ongoing reshaping of ownership across the container leasing space as well as the firm’s continued investment in the intermodal sector, following the purchase of US leasing and rental service Milestone Chassis.