A fleet of about 27,000 road trailers previously owned by the Transport International Pool, Inc. (TIP) subsidiary of General Electric Capital Corp. was acquired Tuesday by Wood Creek Capital Management, Bowman Sales and Equipment, and Milestone Trailer Leasing.
The acquisition includes all of TIP’s remaining U.S.-based trailers.
The majority of the trailers will be owned by Wood Creek affiliates and managed and operated by Trailer Leasing Alliance and Quest Capital Group.
Trailer Leasing Alliance is a newly formed joint venture trailer leasing company owned by Milestone and Bowman and will be staffed by executives with trailer leasing industry and national account management experience. Quest is an existing operating partner of Wood Creek and an experienced transportation equipment manager.
Trailer Leasing Alliance and Quest said they intend to provide additional capital to meet future trailer lessee capacity needs.
“Our acquisition of the TIP trailer fleet expands Wood Creek’s transportation footprint beyond existing investments in U.S. intermodal and commercial aviation markets,” said Wood Creek President Jonathan Rotolo. “The industry fundamentals, driven by a historically small U.S. trailer fleet, offer attractive returns to our investors and complement our existing transportation investments. We are excited to work together with our partners at Bowman, Milestone and Quest, three of the nation’s leading ground transportation players, and we plan to build our presence in the industry.” – Chris Dupin
GECC subsidiary TIP sells last of trailers
