TEN closes leasing agreement with USA Truck
Transportation lessor dedicates $50M to USA Truck dry van trailer expansion
Transportation Equipment Network announced it has closed a $50 million enterprise lease agreement with USA Truck to support the carrier’s near-term operational needs and long-term growth plans.
Under the agreement, Transporation Equipment Network (TEN), a Dublin, Ohio-based provider of trailer leasing, rentals and fleet solutions, invested about $50 million into a dedicated fleet of 53-foot dry van trailers placed on long-term lease with USA Truck, according to today’s release.
The transaction expands an existing relationship between the two companies and provides USA Truck with a scalable fleet solution as it continues to grow.
The lease highlights TEN’s ability to commit capital at scale while structuring customized fleet solutions aligned with customer strategies, according to the release. USA Truck selected TEN as a partner based on its industry expertise, speed of execution and collaborative approach to fleet planning.
TEN operates about 83,000 trailers and nearly 50 locations across the United States and Canada while providing leasing, maintenance, technology and consulting services, according to the release. Meanwhile, Van Buren, Ark.-based USA Truck has a fleet of over 1,800 trucks and 6,000 trailers, serving customers across North America..
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