I Squared Capital, through its ISQ Global Infrastructure Fund II, has acquired Star Leasing, a trailer lessor in the U.S., from its shareholders. Headquartered in Columbus, OH, Star Leasing has a young and diversified fleet of approximately 19,000 trailers throughout the Midwestern and Southeastern regions of the U.S. providing integrated rentals, leasing, maintenance, and trailer sales to its customers.

Following the transaction, I Squared Capital’s global transport and logistics portfolio has over 264,000 trailers or chassis and 123 workshops with 3,500 employees in 19 countries.

“Trailer leasing has remained resilient throughout the COVID-19 pandemic, and we see strong potential for growth in the sector driven by robust demand for trailer capacity to meet increasing needs for supply chain velocity, labor efficiency, peak capacity and the expansion of micro-distribution,” said Thomas Lefebvre, Partner at I Squared Capital in Miami. “As Star Leasing has a dynamic management team, sophisticated operations and a well-trained workforce, it provides a solid foundation for building a semi-trailer platform spanning the U.S. We are excited to work with CEO Steve Jackson and his team to help the company reach its true potential through organic growth and bolt-on acquisitions in its core regions and beyond.”

Jackson, CEO of Star Leasing, noted, “It is an exciting time in our industry, especially as the U.S. comes out of the pandemic. Partnering with I Squared Capital, a sponsor with deep sector expertise, will allow the Star Leasing team to expand our geographic footprint, better serve our existing customers and offer our industry-leading suite of products and services, including rentals, leasing, sales, maintenance, and over-the-road breakdown services, to more companies as a comprehensive solution to their semi-trailer needs.”

White & Case LLP is legal advisor to I Squared Capital and Ice Miller LLP is the legal advisor to Star Leasing for this transaction.

Star Leasing was founded in Columbus, OH, in 1974. Prior to completion of the ISQ acquisition, Star Leasing had been an employee-owned (ESOP) company since 1988. Star currently employs more than 300 people across 13 locations in the Midwest and Southeastern parts of the United States.