NEW HAVEN, Conn.--(BUSINESS WIRE)--Wood Creek Capital Management, LLC (“Wood Creek”) today 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. Wood Creek acquired Milestone in March 2015.
Thomas Juterbock, a Managing Director at Wood Creek, stated: “The merger of Milestone, USTH and Quest is strategically important to Wood Creek’s 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.”
Milestone is one of the largest highway trailer, domestic container and intermodal trailer lessors in North America and also 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.
About Wood Creek
Headquartered in New Haven, Connecticut, Wood Creek is an 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.