September 25, 2017 3:15 PM, EDT

Gem Containers Receives Funding From Crestline

Intermodal Tank Container Firm Will Use Funds to Expand Leasing Operations

Gem Containers Ltd. will receive an unspecified amount of financing from Crestline Investors expand its tank container leasing and management business.

Gem, established in London in 2012 by Heidi Sommerville, leases intermodal tank containers to international shipping companies, logistics firms and manufacturers. The company has about 2,000 container units in its fleet and operates tank container hubs in Shanghai, Singapore, Rotterdam/Antwerp, Cape Town (South Africa) and Houston.

In January, majority ownership in Gem was acquired by RCOG Tank Leasing, a unit of Rampart Capital in London.

Sommerville said the new funding from Fort Worth, Texas-based Crestline will accelerate the company’s growth but provided no additional details in a statement Sept. 12.