Transport Topics – Milestone Equipment, Quest Capital Complete Merger

Barings, which owns trailer leasing companies, announced that it has completed a merger of Milestone Equipment Holdings and Quest Capital Group, a transaction that increases Milestone’s fleet by 70%. Milestone, which previously had 40,000 trailers and containers, now has 68,000 units for lease and rent. The added assets include 18,000 highway trailers and 10,000 pieces of intermodal equipment. Milestone’s fleet now includes intermodal and highway trailers, dry and refrigerated domestic containers and chassis.  Financial details of the transaction weren’t announced. The deal included US Trailer Holdings I and II, which provided leasing and rental services with investor-backed equipment.

Milestone will provide more innovative and flexible leasing and rental products to our customers as a result of our significantly enhanced scale in the marketplace,” Milestone CEO said Rob Thull said. “We are excited to expand the equipment offerings of Milestone through the merger of our operations,” Quest CEO Jordan Ayers said.

“The merger of Milestone, USTH and Quest is strategically important to Barings’ strategy in the surface transportation sector. It will enable Milestone to expand its fleet and geographic footprint while continuing to focus on equipment solutions for its customers,” said Thomas Juterbock, a Barings managing director.

Milestone was acquired by New Haven, Connecticut-based Barings in March.

Source: Transport Topics

Milestone Equipment Holdings Merges with US Trailer Holdings and Quest Capital Group

New Haven, Connecticut – Barings announced it has completed the merger of Milestone Equipment Holdings (“Milestone”), US Trailer Holdings I and II (collectively, “USTH”) and Quest Capital Group (“Quest”). The merger adds approximately 28,000 units of highway and intermodal equipment to Milestone’s existing 40,000-unit fleet; including 18,000 highway trailers, 7,000 domestic containers and 3,000 chassis. Milestone is a full-service transportation equipment lessor specializing in highway and intermodal trailers, domestic intermodal dry and refrigerated containers, as well as chassis. The company’s owned and managed fleet of 68,000 units is provided to its customers under flexible operating lease and rental structures. Barings acquired Milestone in March 2015.

Thomas Juterbock, a Managing Director at Barings, stated: “The merger of Milestone, USTH and Quest is strategically important to Barings’ strategy in the surface transportation sector. It will enable Milestone to expand its fleet and geographic footprint while continuing to focus on equipment solutions for its customers.”

Rob Thull, Milestone’s CEO and founder stated: “Milestone will provide more innovative and flexible leasing and rental products to our customers as a result of our significantly enhanced scale in the marketplace along with the executive talent from Quest. Milestone will be celebrating its 20th anniversary this year and is well capitalized to continue its growth into the future.”

Jordan Ayers, Quest’s CEO and founder stated: “We are proud to join the Milestone team and we are excited to expand the equipment offerings of Milestone through the merger of our operations.”