Redwood Capital Investments LLC has acquired Premier Trailer Leasing Inc, a provider of trailer leasing and rental assets. The seller was Garrison Investment Group. No financial terms were disclosed. Wells Fargo Securities LLC provided financial advice to Redwood on the transaction while Evercore did likewise for Premier and Garrison.
Lewisville, Texas – Premier Trailer Leasing, Inc. (“Premier”), a leading provider of trailer leasing and rental assets and related value-added services in the United States, has been acquired by Redwood Capital Investments, LLC (“Redwood”) from Garrison Investment Group (“Garrison”).
“We are excited about our new partnership with Redwood. Premier has an experienced, motivated team that has driven tremendous growth over the last several years. Our people, combined with Redwood’s permanent capital base and guidance will be the catalyst that allows our business to expand in the years to come,” says Jim Aubuchon, Premier’s President and CEO.
“We are excited to partner with the Premier management team to build an industry-leading trailer leasing and rental company. Premier has successfully grown its business over the last several years and is well-positioned to continue to leverage its platform,” says David Watson, Principal of Redwood.
“Our congratulations go to the Premier team, who have worked diligently to execute a transformational growth strategy that has resulted in nearly tripling the company’s fleet size since 2011. We wish Premier and Redwood continued success in the future,” says Josh Brandt, Managing Director of Garrison.
Wells Fargo Securities, LLC served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to Redwood in conjunction with this acquisition.
Wells Fargo Bank, N.A. arranged a senior secured credit facility to fund a portion of the acquisition. Evercore served as exclusive financial advisor and Paul Hastings LLP and Scudder Law Firm, P.C., L.L.O. served as legal advisors to Premier and Garrison in connection with the transaction.
Premier now has over 32,000 units and 27 branches located in 20 different states.
Premier’s fleet is comprised of new and late model air ride vans, flatbeds, chassis, refrigerated units, spring ride vans, as well as specialized flatbeds. Premier is proud of its value added service offerings, such as available GPS trailer tracking on all over-the-road equipment, and a web portal allowing access to trailer registrations, lease and rental asset history, maintenance history, invoices, digital images of trailer condition, and rental agreements.
Redwood is a private investment company for the founders of Allegis Group.
Redwood’s primary objective is to become long-term partners with private business owners and management teams. In addition to Premier, Redwood’s portfolio includes: Erickson Living, Tradepoint Atlantic, Thompson Gas, Beltway Capital Management, Tarpon Towers and Redwood Rail.
Founded in 2007 and based in New York, Garrison Investment Group is a leading middle market credit and asset based investor..