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ITE expands intermodal chassis unit with NACPC purchase
Regional pool provider, OEM joins Milestone, Trend in chassis division
NACPC offers regional pools of intermodal chassis, allowing drayage companies to avoid owning their own equipment. (NACPC)
Key Takeaways:
- ITE Management acquired North American Chassis Pool Cooperative for an undisclosed sum July 21, expanding its intermodal chassis portfolio.
- NACPC has about 20,000 chassis, while ITE’s Milestone Chassis had around 36,000 when acquired in December.
- NACPC CEO Darren Hawkins will lead Milestone, Trend and NACPC as ITE combines the three intermodal brands.
Transportation infrastructure investment group ITE Management bought North American Chassis Pool Cooperative for an undisclosed sum, the firm said July 21, adding to a growing portfolio of assets in the buoyant intermodal segment of the freight market.
NACPC offers regional pools of intermodal chassis, allowing drayage companies to avoid owning their own equipment. The supplier began manufacturing its own chassis after acquiring Pratt Industries Intermodal Chassis in December 2021. Formed in 2012, NACPC has about 20,000 chassis.
“We see significant opportunity to create long-term value in the chassis market through focused expertise and operational excellence,” said Jennifer Polli, head of intermodal at ITE Management. “Scaling our chassis leasing platform strengthens our commitment to this essential segment and reinforces ITE’s core strategy.”
ITE — which now owns and operates nearly $12 billion of infrastructure assets across rail, intermodal, air and other transportation verticals — bought chassis leasing specialist Milestone Chassis in December.
Milestone Chassis had around 36,000 chassis when the deal closed. Milestone Equipment Holdings sold the division to focus on its core trailer and container leasing operations. Also, in 2023, ITE bought Trend Intermodal Chassis Leasing.
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Hawkins
“Milestone, Trend and NACPC have each built strong businesses with their own identities, but they’re united by a common approach: deep industry expertise, responsive service and a commitment to quality,” said Darren Hawkins, NACPC CEO. “Bringing these companies together creates a more powerful platform that expands our reach while continuing to deliver the reliable equipment and service our customers expect.”
Hawkins will head the leadership team for all three ITE intermodal brands. The executive, who joined NACPC in 2024, was the second CEO of the chassis pool after former American Trucking Associations Chairman Dave Manning. He was previously at the helm of bankrupt less-than-truckload carrier Yellow Corp. when the nearly 100-year-old company filed for court protection.
