OAKBROOK TERRACE, Ill. — NationaLease has established a private equity fund to help in the transition of existing NationaLease members and provide an opportunity for new ownership to gain viable entry as an independent lessor in the truck leasing and rental industry.
“The goal is to preserve and promote the legacy of the independent truck lessor, protect jobs, give customers clear alternatives, and continue to strengthen NationaLease,” the company said in a release. NationaLease is a 700-plus location strong organization representing more than 150,000 vehicles.
“Consolidation continues to be a reality for all industries including ours,” said Roger Welling, Senior Vice President of NationaLease. “It poses a threat, but also presents significant opportunities. When events like this happen in our industry, members work hard to regain that business, which they have historically been very successful at. They are successful because we are in a service business and people do business with people.”
NationaLease members grew their combined fleets more than 5% over the last two years. In addition, seven new members were added in 2007 bringing the total to 187 members.
Two of the major leasing companies have struggled to grow organically and have developed strategies to acquire independent truck lessors to show growth in these market segments to support the demands of shareholders.
NationaLease is taking an alternative strategy. Doug Clark, president and CEO said: “We have grown both organically and through the addition of new members and locations, not to meet the demands of shareholders, but to meet the demands of our customers. We are a customer-focused organization and will continue to provide the level of flexibility and superior service NationaLease has built its reputation on for the past 64 years.”
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