Stonepeak has acquired Fleet Companies, a regional trailer dealership and leasing company headquartered in Memphis. Financial terms were not disclosed.
Fleet Companies serves a variety of both blue-chip customers and other transportation companies with an integrated offering across trailer dealership, leasing, drop yard and maintenance operations. Fleet will serve as the seed asset for a multifaceted national trailer platform Stonepeak plans to build out through additional acquisitions and greenfield operations across the United States.
The investment follows Stonepeak’s long-held thesis around and extensive experience in transportation-focused asset leasing businesses, including TRAC Intermodal (marine chassis leasing) and Textainer (container leasing), along with Air Transport Services Group (aircraft leasing), which Stonepeak entered definitive documentation to acquire
