XTRA Lease has purchased GE Commercial Finance’s trailer rental business that was formerly owned by CitiCapital’s Transportation Financial Service Group.
“Acquiring the former CitiCapital trailer rental business will enhance our equipment pool and bolster our ability to serve our customers through our Streetcorner Strategy,” said Bill Franz, president & CEO. “This acquisition strengthens our ability to respond to customers’ requirements for trailers during a period of tight capacity and contributes to our plans to grow several product lines.”
XTRA Lease will equip the newly acquired over-the-road trailers with FleetView trailer tracking devices, expanding its free trailer tracking on rental vans.
XTRA Lease, based in St. Louis and owned by Berkshire Hathaway, is a service-oriented equipment lessor with almost 90 locations and 600 employees in the United States, Mexico and Canada. The company offers custom rental, lease and lease/purchase packages through its fleet of dry vans, flat beds, reefers and specialty equipment.