Premier Trailer Leasing, a provider of trailer leasing and rental assets and related value-added services, has been acquired by Redwood Capital Investments from Garrison Investment Group.
Premier’s fleet is comprised of new and late-model air ride vans, flatbeds, chassis, refrigerated units and spring ride vans, as well as specialized flatbeds. Premier has over 32,000 units and 27 branches located in 20 different states.
Redwood is a private investment company for the founders of Allegis Group. Garrison Investment Group had owned Premier since 2011 and poured in more than $250 million in capital to purchase new trailers, open new branches and restructure upper management, according to Premier senior vice president Larry Hall. The company had about 10,000 trailers in 2010 and has since tripled in size, he says.
“We’re excited about our new partnership with Redwood,” said Jim Aubuchon, Premier’s President and CEO. “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.”
The management at Premier will remain in place under the new owners and no employees will be affected by the purchase.