Prime Trailer Leasing Acquires OnRamp Trailer from C.R. England

CLIENT
OnRamp Trailer Leasing Inc., a C.R. England subsidiary, is one of the largest dealers of new and used trailers, service and parts west of the Mississippi. With two state of the art facilities in Reno, NV and Salt Lake City, UT, OnRamp holds exclusive distribution rights for several leading brands such as Wabash, East, Transcraft, Manac, Trail King and Construction Trailer Specialists.

SITUATION
C.R. England’s subsidiary, Equinox Business Solutions, sought to carve-out and divest the OnRamp Trailer division of its business, as it was no longer strategic to their long-term goals.

ENGAGEMENT
G2 Capital Advisors served as the exclusive financial advisor to OnRamp in facilitating the divestiture. Due to G2 Capital Advisors’ expansive industry networks and expertise in the Transportation & Logistics industry, the transaction generated significant interest from a diverse mix of middle market private equity groups and strategic private companies.

“The acquisition of OnRamp is a significant step toward better serving our customers in the semi trailer segment of the transportation industry,” said Wes Gardner, CEO and founder of Prime Trailer Leasing. “We will now add the strong brand recognition of OnRamp’s exclusive distribution rights along with our existing trailer lines.”

OUTCOME
The transaction was successfully executed in Q2 2014 through a sale to Prime Trailer Leasing in Colorado. Prime Trailer rents, leases, sells, buys and remarkets trailers across the nation.

“This transaction is a win-win for both parties and we are thrilled with the outcome,” said Ron Lentz, Managing Director and Transportation and Logistics Practice Leader at G2 Capital Advisors. “This industry continues to experience rapid consolidation and G2 Capital Advisors is proud of yet another successful sector transaction.”