ITE Management Expands Portfolio with Acquisition of Milestone's Chassis Leasing Business
In an important development for the transportation infrastructure sector, ITE Management L.P. has announced its agreement to acquire the chassis leasing business from Milestone Equipment Holdings. This strategic transaction marks a significant step in ITE's efforts to enhance its diversified portfolio in industrial transportation. The agreement, revealed on December 15, 2025, outlines the transfer of around 36,000 state-of-the-art chassis and a specialized team from Milestone to ITE Management.
ITE Management has built a reputation as a leading alternative asset manager, focusing on industrial transportation and infrastructure sectors. With this acquisition, they will bolster their position in the freight infrastructure market, enabling a broader range of leasing solutions for their clients. The newly acquired Milestone Chassis will operate as an independent entity, based in the greater Chicago area, thus further expanding ITE’s multimodal transportation footprint in the U.S.
The acquisition allows Milestone to direct its focus towards enhancing its core trailer and container leasing business. Currently, Milestone has a fleet of about 70,000 trailers and containers, which are strategically located across a nationwide network that connects major logistics hubs. This realignment is expected to facilitate significant growth opportunities within their primary business lines while still fostering a competitive edge through the sale of their chassis division.
Jennifer Polli, Managing Director and Head of Intermodal at ITE, voiced enthusiasm about the acquisition, stating, "The acquisition of Milestone Chassis significantly strengthens ITE's position in core freight infrastructure. Adding this modern fleet and seasoned team enhances our ability to deliver high-quality leasing solutions to customers." This outlook demonstrates ITE's commitment to expanding its core operations and enhancing service delivery in key sectors of the transportation industry.
Ralph Western, CEO of Milestone, echoed similar sentiments regarding the transition, saying, "We're proud of the chassis platform and team that we built, and we're confident it will continue to succeed under ITE. This transaction allows us to invest more extensively in service quality and scale across our national trailer and container business segments, which have a strong position in the market."
The deal is slated for completion in the first quarter of 2026, pending the usual regulatory approvals. Financial advisors for the transaction include Deutsche Bank Securities Inc. and Stephens Inc., with legal support provided by Willkie Farr Gallagher LLP and Davis Polk Wardwell LLP, respectively.
ITE Management was founded in 2014 and has since become a significant player with nearly $11 billion in industrial infrastructure assets across various transportation verticals. Their focus on essential-use, long-lived assets positions them for sustained growth. This latest acquisition aligns with ITE's strategy of achieving differentiated value through stable lease profiles and long-term contracts.
Milestone Equipment Holdings operates a diverse fleet exceeding 110,000 trailers, chassis, and containers, offering logistics solutions under term lease and rental agreements. This makes it one of the foremost lessors of critical transportation equipment to U.S. parcel carriers.
As the transportation industry continues to evolve, both ITE and Milestone are poised to leverage their respective strengths to capitalize on emerging opportunities. This acquisition not only aligns with ITE's strategic goals but also signals the growth trajectory of Milestone’s remaining operations as they invest in customer-centric solutions across their platform.
As we look ahead, the transportation and logistics sector remains a vital component of the global economy, with ITE Management and Milestone poised to play significant roles in shaping its future.
ITE Management has built a reputation as a leading alternative asset manager, focusing on industrial transportation and infrastructure sectors. With this acquisition, they will bolster their position in the freight infrastructure market, enabling a broader range of leasing solutions for their clients. The newly acquired Milestone Chassis will operate as an independent entity, based in the greater Chicago area, thus further expanding ITE’s multimodal transportation footprint in the U.S.
The acquisition allows Milestone to direct its focus towards enhancing its core trailer and container leasing business. Currently, Milestone has a fleet of about 70,000 trailers and containers, which are strategically located across a nationwide network that connects major logistics hubs. This realignment is expected to facilitate significant growth opportunities within their primary business lines while still fostering a competitive edge through the sale of their chassis division.
Jennifer Polli, Managing Director and Head of Intermodal at ITE, voiced enthusiasm about the acquisition, stating, "The acquisition of Milestone Chassis significantly strengthens ITE's position in core freight infrastructure. Adding this modern fleet and seasoned team enhances our ability to deliver high-quality leasing solutions to customers." This outlook demonstrates ITE's commitment to expanding its core operations and enhancing service delivery in key sectors of the transportation industry.
Ralph Western, CEO of Milestone, echoed similar sentiments regarding the transition, saying, "We're proud of the chassis platform and team that we built, and we're confident it will continue to succeed under ITE. This transaction allows us to invest more extensively in service quality and scale across our national trailer and container business segments, which have a strong position in the market."
The deal is slated for completion in the first quarter of 2026, pending the usual regulatory approvals. Financial advisors for the transaction include Deutsche Bank Securities Inc. and Stephens Inc., with legal support provided by Willkie Farr Gallagher LLP and Davis Polk Wardwell LLP, respectively.
ITE Management was founded in 2014 and has since become a significant player with nearly $11 billion in industrial infrastructure assets across various transportation verticals. Their focus on essential-use, long-lived assets positions them for sustained growth. This latest acquisition aligns with ITE's strategy of achieving differentiated value through stable lease profiles and long-term contracts.
Milestone Equipment Holdings operates a diverse fleet exceeding 110,000 trailers, chassis, and containers, offering logistics solutions under term lease and rental agreements. This makes it one of the foremost lessors of critical transportation equipment to U.S. parcel carriers.
As the transportation industry continues to evolve, both ITE and Milestone are poised to leverage their respective strengths to capitalize on emerging opportunities. This acquisition not only aligns with ITE's strategic goals but also signals the growth trajectory of Milestone’s remaining operations as they invest in customer-centric solutions across their platform.
As we look ahead, the transportation and logistics sector remains a vital component of the global economy, with ITE Management and Milestone poised to play significant roles in shaping its future.
Topics Business Technology）
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