Institutional investors advised by J.P. Morgan Global Alternatives’ Global Transportation Group (www.jpmorgan.com/am), have acquired InStar from Sightway Capital, a Two Sigma private equity business. The new strategic ownership group will be pursuing growth opportunities to expand the company’s railcar leasing portfolio in North America. Umesh Choksi, the President and CEO of InStar, will continue to lead InStar alongside Joanna Marek, Chief Financial Officer.
Andy Dacy, Global Head of Transportation for J.P. Morgan Global Alternatives, said: “InStar has an impressive track record of growth since its inception in 2016. With its seasoned management team, strategic industry relationships, and modern fleet, the company is well positioned to capture the growth in this segment and increase its market share.”
Umesh Choksi, President & CEO of InStar, stated: “We are thrilled to have J.P. Morgan’s deep industry experience and transportation-asset focus on the InStar team. Our customers will benefit from such cooperation, financial strength and industry expertise. We would like to thank Sightway Capital and all our stakeholders for their unwavering support to date and we remain committed to providing consistent services and solutions to all our customers.”
Michael Gross, Co-Head of Investments at Sightway Capital, added: “It has been a pleasure working alongside Umesh and the rest of his management team at InStar to build one of the leading railcar leasing businesses in North America. We thank them for their partnership and wish them continued success.”
