M&A Deal Summary

Star Leasing Acquires CTL

On September 6, 2023, Star Leasing acquired transportation company CTL

Acquisition Highlights
  • This is Star Leasing’s 1st transaction in the Transportation sector.
  • This is Star Leasing’s 1st transaction in the United States.
  • This is Star Leasing’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2023-09-06
Target CTL
Sector Transportation
Buyer(s) Star Leasing
Deal Type Add-on Acquisition
Advisor(s) Evercore Group (Financial)
Scudder Law Firm (Legal)

Target

CTL

Roseland, New Jersey, United States
CTL is a full-service trailer lessor, providing the most reliable and quality leasing and service programs throughout the US. The company’s fleet is domiciled throughout the country and is comprised of mainly dry vans and refrigerated trailers. CTL was formed in 1964 and is headquartered in Roseland, New Jersey.

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Buyer(S) 1

Buyer

Star Leasing

Columbus, Ohio, United States
Category Company
Sector Transportation
DESCRIPTION

Star Leasing is a provider of rentals, leasing, maintenance, and trailer sales. Star’s overall objective is to serve as a solution for all customers’ semi-trailer needs, whether that be for rental, leasing, maintenance/repair (on both Star rental/lease trailers as well as a customer’s company-owned trailers), as well as the purchase and sale of new and used trailers. Star’s current resources for serving customers’ maintenance needs includes a total of 57 service bays across its current branch shop locations, in addition to a fleet of 54 mobile service trucks for on-site maintenance. Star Leasing is based in Columbus, Ohio.

DEAL STATS #
Overall 1 of 1
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Mergr

Product

Company

Legal