Tuesday, July 10, 2012
GE Capital sells chassis unit
General Electric Capital Corp. has sold its Transport International Pool Inc. unit of 27,000 U.S. -based over-the-road trailers to the consortium of Wood Creek Capital Management, Bowman Sales, and Milestone Trailer Leasing, according to an announcement.
The financial terms of the deal were not disclosed.
The consortium said the majority of the trailers would be owned by Wood Creek affiliates and managed and operated by Trailer Leasing Alliance and Quest Capital Group.
"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 in the statement.
"The industry fundamentals, driven by a historically small U.S. trailer fleet, offer attractive returns to our investors and complement our existing transportation investments," Rotolo said.
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