I Squared Capital Acquires Star Leasing

I Squared Capital, through its ISQ Global Infrastructure Fund II, acquired Star Leasing, a trailer lessor in the U.S., from its shareholders.

Headquartered in Columbus, OH, Star Leasing has a fleet of approximately 19,000 trailers throughout the Midwest and Southeast regions of the U.S. The company provides integrated rentals, leasing, maintenance and trailer sales to its customers. Following the transaction, I Squared Capital’s global transport and logistics portfolio now has more than 264,000 trailers or chassis and 123 workshops with 3,500 employees in 19 countries.

“Trailer leasing has remained resilient throughout the COVID-19 pandemic, and we see strong potential for growth in the sector driven by robust demand for trailer capacity to meet increasing needs for supply chain velocity, labor efficiency, peak capacity and the expansion of micro-distribution,” Thomas Lefebvre, a partner at I Squared Capital in Miami, said. “As Star Leasing has a dynamic management team, sophisticated operations and a well-trained workforce, it provides a solid foundation for building a semi-trailer platform spanning the U.S. We are excited to work with CEO Steve Jackson and his team to help the company reach its true potential through organic growth and bolt-on acquisitions in its core regions and beyond.”

“It is an exciting time in our industry, especially as the U.S. comes out of the pandemic,” Jackson said. “Partnering with I Squared Capital, a sponsor with deep sector expertise, will allow the Star Leasing team to expand our geographic footprint, better serve our existing customers and offer our industry-leading suite of products and services, including rentals, leasing, sales, maintenance and over-the-road breakdown services, to more companies as a comprehensive solution to their semi-trailer needs.”

White & Case is acting as legal advisor to I Squared Capital and Ice Miller is acting as legal advisor to Star Leasing for this transaction.

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