– I Squared Capital has raised over $600 million from Mubadala Investment Co. and Qatar Investment Authority for Transportation Equipment Network (TEN), the second-largest full-service trailer lessor in North America.
– The fundraising follows the creation of TEN in March 2021 and the acquisition of Star Leasing, Cooling Concepts, North East Trailer Services, and Commercial Trailer Leasing.
– TEN offers integrated leasing, maintenance, technological solutions, consultation, and fleet electrification across various industry verticals, showcasing significant market potential and strong fundamentals.
Infrastructure investment firm I Squared Capital has secured over $600 million from investors, including Mubadala Investment Co. and Qatar Investment Authority, for Transportation Equipment Network (TEN),
TEN is the second-largest full-service trailer lessor in North America. This fundraising follows I Squared’s establishment of the trailer-leasing platform in March 2021 with the acquisition of Star Leasing.
Subsequent acquisitions include Cooling Concepts (May 2022), North East Trailer Services (NETS, July 2023), and Commercial Trailer Leasing (CTL, September 2023).
TEN offers integrated leasing, maintenance, technological solutions, consultation, and fleet electrification across various industries.
Giovanni Oddo from Mubadala highlighted the market’s potential and robust fundamentals.For Mubadala the investment in the trailer leasing market “shows great potential with its rapid demand growth and strong market fundamentals,” said Giovanni Oddo, Head of Americas – Traditional Infrastructure at Mubadala.
This investment also aligns with QIA’s strategy to invest in and partner with leading companies in essential sectors like supply chain networks, logistics, and warehousing on a global scale.
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