NationaLease Private Equity Fund Makes First Investment
Company Enables Independent Owner to Take Over Leasing Operation
May 5, 2008, Downers Grove, IL – NationaLease, through its relationship with ATS Investment Holdings Inc., announced today that it has made its first investment, taking an equity position in Stitzel Leasing LLC (York, PA), which will
now operate under the name of York NationaLease.
Stitzel Leasing LLC is operating under the direction of Dale Stitzel, a trucking industry veteran. The investment by ATS enabled Stitzel to acquire the former York NationaLease. Currently, Stitzel
Leasing operates more than 100 vehicles from a single York, PA, location. The firm is in the process of opening a location in Harrisburg, PA and plans to add additional York NationaLease locations in the future.
“Dale Stitzel was ready to transition into ownership and we wanted to support someone who had his experience, drive, and desire,” said Mark Joyce, Chief Financial Officer and Senior Vice President. “We were excited to help facilitate the purchase of an independent leasing company
and look forward to making other leasing business investments in the future.”
NationaLease established a private equity fund earlier this month to enable effective ownership transition of existing NationaLease member companies and provide an
opportunity for new ownership to gain viable entry as an independent lessor in the truck leasing and rental industry. The goal of the private equity fund is to preserve and promote the legacy of the independent truck lessor, protect jobs,
give customers clear alternatives, and continue to strengthen NationaLease, an already 700 service locations strong organization representing more than 150,000 vehicles.
“In terms of structure, the Stitzel Leasing, LLC venture is representative of the type of investments NationaLease will be making,” Joyce said. “We have the capability of participating in transactions from small to mid-size independent leasing companies as well as the larger organizations in our industry.”
Dale Stitzel states, “The entire process, beginning with our initial discussion with Doug Clark until settlement, was very dynamic and enlightening. We are proud to be part of the initial investment under the NationaLease private equity fund. The program
provides opportunities for individuals to become entrepreneurs in the truck rental and leasing industry and provides the opportunity for organic growth of the NationaLease organization. We commend Doug Clark, Roger Welling, Mark Joyce, and
the Board of Directors for their foresight in establishing this fund and supporting the entrepreneurial spirit, which contributes to NationaLease’s success. We look forward to their continued support and participation.”
Founded in 1944, NationaLease is one of the largest full service truck leasing organizations in North America, with over 700 service locations throughout the U.S. and Canada and a combined customer fleet of over 135,000 tractors, trucks, and trailers.
The company provides comprehensive fleet management services for private fleets and transportation service providers. More information can be found at nationalease.com.