Stonepeak Acquires Fleet Companies in Strategic Expansion

Stonepeak, a prominent alternative investment firm focused on infrastructure and real assets, has acquired Fleet Companies, a regional trailer dealership and leasing company. Headquartered in Memphis, with operations in Nashville and Dallas, Fleet Companies is positioned to capitalize on burgeoning transportation hubs. This acquisition represents Stonepeak’s intent to develop a national trailer platform via further acquisitions and greenfield operations. Leveraging extensive experience in transportation-related leasing businesses, Stonepeak sees trailer leasing as a substantial opportunity in the transportation supply chain, promising durable growth and solid asset returns. Fleet, recognized as a high-quality operator with robust customer connections, will be helmed by industry veterans John Wilbur and Erek Starnes. Stonepeak, known for defensive, hard-asset investments, aims to bolster Fleet’s customer satisfaction and operational systems with its industry acumen and capital resources. Legal counsel for the acquisition was provided by Sidley Austin LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Evans Petree, with financial advisory by Jefferies.