Milestone Equipment and Scrap Metal Services Acquire GE Capital Trailer Fleet
TIBURON, CA & BURNHAM, IL – Milestone Equipment and Scrap Metal Services entered into a new joint venture Scrapstone Intermodal Services, LLC with the acquisition of 7,300 intermodal dry van trailers from GE Capital on October 24.
TIBURON, CA & BURNHAM, IL - Milestone Equipment and Scrap Metal Services entered into a new joint venture Scrapstone Intermodal Services, LLC with the acquisition of 7,300 intermodal dry van trailers from GE Capital on October 24. Financial terms of the deal weren't disclosed.
The heavy-duty dry van trailers are operated under leases throughout North America in rail intermodal service.
In a statement, Milestone's president and founder Robert Thull said: "Milestone is now the largest domestic intermodal container and intermodal trailer equipment lessor. We are committed to continued rapid growth and investment in intermodal equipment to provide flexible operating leases to our customers."
Scrap Metal Services CEO Jeffry K. Gertler was bullish about the future of the intermodal marketplace. "This acquisition allows Scrap Metal Services to expand its role in the intermodal marketplace, a market segment that we believe will experience considerable growth of the next several years," he said in the same press release as Thull that announced the purchase.
The new Scrapstone venture will be used to create future intermodal opportunities as well.
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