Trailer leasing companies to combine as TEN
Star Leasing Company, CTL (Commercial Trailer Leasing), Cooling Concepts, and NETS Leasing (North East Trailer Services)—all portfolio companies of I Squared Capital—plan to rebrand as TEN (Transportation Equipment Network) in a move intended to reflect their combined commitment to “industry-leading” solutions.
“Bringing these great companies together was just the beginning,” Scott Nelson, TEN president, said in a news release. “We are excited about the future and our combined ability to provide employees, customers, and suppliers with a platform unlike any other.
“This is truly just the beginning of our journey to build a completely unique company.”
TEN plans to offers full-service trailer solutions that “keep businesses moving forward,” including expanded refrigerated fleet offerings under the dedicated refrigeration sub-brand TEN Cool, the company said. The division will e supported by specialists who deliver customized temperature-controlled solutions across the U.S.
“The establishment of our dedicated refrigeration platform is a substantial and significant step in our focus to provide tailored customer solutions for mission critical fleets,” said Corey Eisen, TEN vice president of refrigeration. “We are investing significant resources in driving a superior customer experience through best in-class service, equipment design, and technology offerings.
“I am thrilled to lead TEN Cool and grow our market share within the temperature-controlled space.”
With a fleet size of approximately 55,000 trailers, the combined assets and large-scale location footprint will enable TEN to serve customers across all regions of the United States, the company reported. TEN provides full-service support that includes maintenance, advanced technological solutions, consultation services, and fleet electrification offerings across numerous industry verticals.
Star, NETS, CTL, and Cooling Concepts intend to begin operating as TEN and TEN Cool in the second half of 2024.
“Our new name, TEN, reveals the collective objective to be a one-stop center of excellence and trusted partner to our customers, providing them with forward-thinking equipment solutions to propel their businesses ahead,” managing partners David Eisen, Gregg Gottsegen, and Steve Jackson maintained in a combined statement.
“The power of TEN will be an unmatched resource for our customers.”
