NACPC offers regional pools of intermodal chassis, allowing drayage companies to avoid owning their own equipment. (NACPC)
key takeaways:
- ITE Management acquired North American Chassis Pool Cooperative for an undisclosed amount on July 21, expanding its intermodal chassis portfolio.
- NACPC has about 20,000 chassis, while ITE’s Milestone chassis had about 36,000 at the time of the acquisition in December.
- NACPC CEO Darren Hawkins will lead Milestone, Trend and NACPC as ITE combines the three intermodal brands.
Transportation infrastructure investment group ITE Management purchased North American Chassis Pool Cooperative for an undisclosed amount The firm said on July 21Adding to the growing portfolio of assets in the buoyant intermodal segment of the freight market.
NACPC offers regional pools of intermodal chassis, allowing drayage companies to avoid owning their own equipment. The supplier began manufacturing its own chassis in December 2021 after acquiring Pratt Industries Intermodal Chassis. Formed in 2012, NACPC has around 20,000 chassis.
“We see a significant opportunity to create long-term value in the chassis market through focused expertise and operational excellence,” said Jennifer Polley, head of intermodal at ITE Management. “The expansion of our chassis leasing platform reinforces our commitment to this essential segment and reinforces ITE’s core strategy.”
ITE – which now owns and operates approximately $12 billion of infrastructure assets across the rail, intermodal, air and other transportation sectors – bought chassis leasing specialist Milestone Chassis in December.
Milestone Chassis had approximately 36,000 chassis when the deal closed. Milestone Equipment Holdings sold the division to focus on its core trailer and container leasing operations. Additionally, in 2023, ITE purchased Trend Intermodal Chassis Leasing.
“Milestone, Trend and NACPC have built strong businesses with their own identities, but they are united by a common vision: deep industry expertise, responsive service and a commitment to quality,” said Darren Hawkins, CEO of NACPC. “Bringing these companies together creates a more powerful platform that expands our reach while providing the reliable tools and service our customers expect.”
Hawkins will lead the leadership team for all three ITE Intermodal brands. The executive, who joined NACPC in 2024, was the second CEO of the chassis pool, following former American Trucking Association President Dave Manning. He was previously at the helm of bankrupt less-than-truckload carrier Yellow Corp. when the nearly 100-year-old company applied for court protection.
