Flagship is the ninth-largest wagon leasing company in the United States by fleet size and has about 15,000 wagons on its books.

Flagship was founded in 2006 as AIG Rail Services and was acquired by the Asset Based Value Strategy division of Perella Weinberg Partners in May 2011. Since then Flagship Rail Services has increased the size of its wagon fleet by more than 50%.

SMBC is a subsidiary of Sumitomo Mitsui Financial Group which has a market capitalisation of $US 69m, making it Japan's second largest bank.