Palm Beach, FL 08/17/2020 – BGSA Holdings LLC, a leading M&A advisory firm focused on the logistics and supply chain industry, advised NFI on the acquisition of CAI Logistics.

NFI, a leading supply chain solutions provider, has completed the acquisition of CAI Logistics, the non-asset logistics division of CAI International, Inc. (“CAI”) (NYSE: CAI) that generates more than $100 million in annual revenue. By acquiring CAI Logistics, NFI expands its suite of supply chain services, specifically enhancing its brokerage, intermodal, and global freight forwarding capabilities across North America.

With the acquisition, NFI’s non-asset logistics business units will generate in excess of $500 million in annual revenue, making up 20 percent of NFI’s total revenue of approximately $2.5 billion. Additionally, NFI advances its position as a best-in-class service provider and its expertise in numerous verticals including the industrial, manufacturing, food, beverage, and retail industries.

Facilitating more than 300,000 shipments annually, NFI provides thousands of customers with a wide breadth of multi-modal brokerage services. The addition of CAI Logistics further bolsters NFI’s specialized capabilities including flatbed, over-dimensional, less-than-truckload, expedited, and temperature-controlled transportation.

NFI is an asset and non-asset intermodal provider with capabilities across North America. It is an early adopter in the temperature-controlled intermodal space with a fleet of refrigerated intermodal containers. Integrating CAI Logistics’ rail solutions will extend NFI’s access to more than 100,000 pieces of railroad equipment. Bringing more than 200 years of combined intermodal operations experience to NFI, the CAI Logistics and ClearPointt Logistics teams, will significantly deepen NFI’s intermodal expertise.

Spanning Full Container Load, Less Than Container Load, perishable, and oversized shipments, the acquisition also enhances NFI’s growing ocean and air freight forwarding services that help shippers better connect their international and domestic supply chains.

“With CAI Logistics’ service offerings, NFI will be able to amplify the scalability of its non-asset logistics platform,” said Sid Brown, CEO, NFI. “As we have showcased with our long history of acquisitions, our ability to combine strong operations is unmatched, resulting in a more robust customer experience and integrated solutions that are seamless for shippers and their end consumers.”

“Being a part of the NFI family is a tremendous opportunity for us and for our customers,” said Janet Papworth, President, CAI Logistics. “Our common approach to customer-centricity, combined with NFI’s vast expertise and capabilities, will undoubtedly generate a new level of value we can provide for shippers.”

CAI Logistics represents NFI’s 20th acquisition since 2000. BGSA Holdings LLC acted as exclusive advisor to NFI. Recent acquisitions also include G&P Trucking, SCR Air, and California Cartage Company. CAI Logistics and its entities ClearPointt Logistics LLC, Challenger Overseas, LLC, Hybrid Logistics, Inc., and General Transportation Services, Inc. will be rebranded NFI.

BGSA acted as exclusive advisor to NFI.

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About BGSA

BGSA Holdings LLC is a leading M&A advisory firm focused on the logistics and supply chain industry. The firm specializes in helping outstanding transportation and logistics companies to maximize value through mergers and acquisitions. BGSA has worked with major supply chain companies including NFI, UPS, DHL, Echo Global Logistics, New Breed (now XPO), GENCO (now FedEx), Converge (now Arrow Electronics), Wilpak (now Jacobson), and others. BGSA is also affiliated with Cambridge Capital, a leading private equity firm investing in supply chain and technology companies. For more information, please visit www.BGSA.com.

About NFI

NFI is a fully integrated North American supply chain solutions provider headquartered in Camden, N.J. Privately held by the Brown family since its inception in 1932, NFI generates more than $2 billion in annual revenue and employs more than 13,000 associates. NFI owns facilities globally and operates approximately 50 million square feet of warehouse and distribution space. Its dedicated fleet consists of over 3,000 tractors and 12,500 trailers operated by 2,700 company drivers and leveraging partnerships with 400 owner operators. NFI has a significant drayage presence at nearly every major U.S. port, leveraging the services of an additional 1,500 owner operators. The company’s business lines include dedicated transportation, distribution, brokerage, transportation management, port drayage, intermodal, global logistics, and real estate. For more information about NFI, visit www.nfiindustries.com or call 1-877-NFI-3777.

About CAI International, Inc.

CAI is one of the world’s leading transportation finance companies. As of June 30, 2020, CAI owns and leases a fleet of over 1 million intermodal shipping containers to all the major global marine shipping companies. For more information, please visit www.capps.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding future events and the future performance of CAI, including but not limited to: management’s business outlook, the intended sale of the rail and logistics businesses, and the initiation of future cash dividends. These statements and others herein are forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and involve risks and uncertainties that could cause actual results of operations and other performance measures to differ materially from current expectations including, but not limited to: utilization rates, expected economic conditions, expected growth of international trade, availability of credit on commercially favorable terms or at all, customer demand, container investment levels, container prices, lease rates, increased competition, volatility in exchange rates, growth in world trade and world container trade, the ability of CAI to convert letters of intent with its customers to binding contracts, potential to sell CAI’s securities to the public and others.

CAI refers you to the documents that it has filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2019, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. These documents contain additional important factors that could cause actual results to differ from current expectations and from forward-looking statements contained in this press release. Furthermore, CAI is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, unless required by law.