MRC has announced that JA Mitsui Leasing Ltd. (JAML) and Mitsui & Co., Ltd. (Mitsui) have entered a definitive agreement for JAML, through its subsidiary JAML MRC Holding, Inc., to take full ownership of MRC. MRC is currently a joint venture between JAML and Mitsui.
“JAML has been a joint venture partner with Mitsui for MRC since 2015, so they’re very familiar with our business, which will make this a smooth transition,” MRC President Kevin Cook said. “JAML is focused on expanding their presence in North America and is very supportive of our strategic growth initiatives at MRC.”
The deal is expected to close by March 31.
MRC has built a diverse portfolio of rail freight cars deployed across a wide range of industrial sectors including energy, food, manufacturing and construction. In addition, MRC has built a strong reputation for its customer service, which has been the foundation of the business since its establishment in 1996.