M&A Deal Summary

Stonepeak Acquires TRAC Intermodal

On February 18, 2020, infrastructure investor Stonepeak acquired transportation company TRAC Intermodal from Fortress

Acquisition Highlights
  • This is Stonepeak’s 1st transaction in the Transportation sector.
  • This is Stonepeak’s 13th transaction in the United States.
  • This is Stonepeak’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2020-02-18
Target TRAC Intermodal
Sector Transportation
Buyer(s) Stonepeak
Sellers(s) Fortress
Deal Type Secondary Buyout
Advisor(s) Citigroup Investment Banking (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

TRAC Intermodal

Princeton, New Jersey, United States
TRAC Intermodal is a provider of short-term rentals through an extensive chassis pool network, long-term chassis leasing, and pool & fleet management through the utilization of its proprietary PoolStat® information management system. TRAC Intermodal was founded in 1968 and is based in Princeton, New Jersey.

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Buyer(S) 1

Buyer

Stonepeak

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 57.1B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 18 of 40
Sector (Transportation) 1 of 5
Type (Secondary Buyout) 5 of 7
State (New Jersey) 1 of 2
Country (United States) 13 of 22
Year (2020) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 Inspired Education Holdings

London, United Kingdom

Inspired Education Holdings is a provider of education services. Inspired Education was founded in 2013 and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-27 Xplornet

Woodstock, New Brunswick, Canada

Xplornet is a provider of broadband access to rural consumers across Canada using both 4G Wireless and two-way next-generation satellites. Xplornet has been providing innovative fixed and mobile broadband solutions to rural customers at work, home and plays across Canada. Xplornet offers voice and data communication services through its unique hybrid fiber wireless and satellite network that connects Canadians to what matters. Xplornet was founded in 2004 and is based in Woodstock, New Brunswick.

Buy -

Seller(S) 1

SELLER

Fortress

New York, New York, United States
Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 23 of 25
Sector (Transportation) 3 of 3
Type (Secondary Buyout) 2 of 2
State (New Jersey) 1 of 1
Country (United States) 18 of 18
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 NextNav

Sunnyvale, California, United States

NextNav is a provider of high-precision location service for mobile wireless use indoors and in environments where GPS signals have difficulty penetrating buildings. NextNav was founded in 2008 and is based in Sunnyvale, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-22 Krystal

Dunwoody, Georgia, United States

Krystal is an operator of a chain of restaurants well known for its signature menu item, the famous Krystal Burger, with its steamed-in onion flavor. Krystal hamburgers are still served fresh and hot off the grill on the iconic square bun at 300 restaurants in 10 states. Krystal was founded in 1932 and is based in Dunwoody, Georgia.

Buy -
Mergr

Product

Company

Legal