Wood Creek acquires Milestone Equipment Holdings from Blackstone Tactical Opportunities
By Business Wire News
By Business Wire News
NEW HAVEN, Conn.
Wood Creek Capital Management, LLC (“Wood Creek”) today announced it has completed the acquisition of the majority ownership of Milestone Equipment Holdings (“Milestone”) from Blackstone Tactical Opportunities.
Milestone is a premier full-service transportation equipment lessor specializing in highway trailers, intermodal trailers, domestic intermodal containers, and chassis. The company’s approximately 40,000 unit equipment fleet is provided to its customers under flexible operating lease and rental structures. Milestone was acquired by funds managed by Blackstone in December 2012.
Thomas Juterbock, a Managing Director at Wood Creek, stated: “The acquisition of Milestone is strategically important to Wood Creek’s growth strategy in the surface transportation equipment sector. We are confident that Milestone will be able to continue achieving rapid growth of its platform as well as providing synergies for the approximately 30,000 highway trailers and intermodal assets currently owned by Wood Creek.”
“Wood Creek’s acquisition of our company will provide significantly enhanced scale in the marketplace and a competitive edge to provide more cost-effective and flexible leasing and rental products to our customers,” stated Rob Thull, Milestone’s CEO and founder.
Milestone provides management services for third-party investors and fleet owners that include lease origination, administration, operating and maintaining equipment, re-marketing and managing equipment portfolios.
Milestone also operates a dry van highway trailer full-service rental and leasing business with 17,000 highway trailers from 16 branch locations, primarily in the Midwestern U.S., under the name Personal Attention Leasing, Inc.
About Wood Creek
Headquartered in New Haven, Connecticut, Wood Creek Capital Management is a SEC-registered investment advisor founded in 2005 with holdings in tangible and intangible asset-based businesses. Wood Creek is an affiliate of Babson Capital Management LLC.
Milestone Equipment Holdings, LLC
Robert Thull, (415) 706-2825
Chief Executive Officer
Wood Creek Capital Management, LLC
Thomas Juterbock, (203) 401-3220