Deals
I Squared-Backed Star Leasing Agrees to Buy New Jersey Rival CTL
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Star Leasing Co., a trailer-leasing specialist backed by I Squared Capital, agreed to buy New Jersey-based rival Commercial Trailer Leasing Inc.
The transaction values the combined entity at $1.6 billion including debt, according to people with knowledge of the matter who requested anonymity to discuss confidential terms. The deal expands Columbus, Ohio-based Star Leasing’s footprint to roughly 41 locations across 13 US states and follows its recent acquisition of North East Trailer Services.