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PLM Completes Partnership with Affiliates of Marubeni and Mizuho Leasing

April 01, 2020, 06:00 AM
Filed Under: Mergers & Acquisitions
Related: Fleet Management

PLM Fleet LLC dba PLM Trailer Leasing (PLM) announced it has finalized the previously communicated partnership with a U.S. subsidiary of Mizuho Leasing Company, MM Wheel, LLC, which acquired a 50 percent membership interest of PLM from Marubeni America Corporation. The closing of the transaction followed the receipt of regulatory approvals from required government authorities and PLM’s shareholders.

“We are pleased to announce this partnership and the joining of two strategic businesses,” said Kenji Funaki, Chairman of the PLM Board of Directors.

“We are thrilled to continue our partnership with Marubeni America Corporation and welcome Mizuho Leasing,” added Keith Shipp, President and Chief Executive Officer of PLM. “This partnership strengthens PLM’s position as an industry leader, providing refrigerated fleet management and leasing solutions to the supply chain.”

With headquarters in Newark, NJ, PLM is a nationwide company dedicated to leasing, rental, maintenance and comprehensive fleet management of over 10,000 refrigerated trailers.

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