ITE Management L.P., a leading alternative asset manager focused on industrial transportation and infrastructure, and Milestone Equipment Holdings (“Milestone”), a leading lessor of mission-critical transportation equipment in the U.S., today announced a definitive agreement for Milestone to sell its chassis business (“Milestone Chassis”) to ITE Management L.P. through its managed funds (collectively, “ITE Management” or "ITE").

The transaction brings approximately 36,000 modern chassis and Milestone’s chassis team to ITE’s portfolio. Milestone Chassis will operate as a standalone company based in the Chicago area. This transaction expands ITE’s diversified, multimodal footprint across essential transportation infrastructure and establishes a new independent chassis provider in the U.S.

The transaction allows Milestone to strategically focus its growth initiatives on its core trailer and container leasing platform. Milestone has a fleet of around 70,000 trailers and containers that are available for lease across an integrated nationwide network near major logistics hubs. Milestone is a portfolio company of Barings and Partners Group.

“The acquisition of Milestone Chassis 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,” said Jennifer Polli, Managing Director and Head of Intermodal at ITE.

“We’re proud of the chassis platform and team that we built, and we’re confident it will continue to succeed under ITE,” said Ralph Western, CEO of Milestone. "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 transaction is expected to close in the first quarter of 2026.