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ELGA Purchases Truck Tractor, Construction Crane Leases

October 29, 2018, 07:15 AM

Brian Trebels, CEO of Equipment Leasing Group of America, LLC (ELGA), announced the purchase of a premier portfolio of top-brand truck tractor and construction crane leases. Remaining lease terms for the trucks included in the deal average 29 months and leases for the included construction cranes average 49 months.

"The independent lessor in the transaction was seeking capital to fund future business in North America and was accordingly looking to sell a portion of an existing, seasoned portfolio of collateral-based leases at an attractive purchase rate,” Trebels said. “The ELGA-purchased leases principally include top-brand, high-performance trucks and construction cranes across 22 states."

Among the truck brands included among the leases are Kenworth, Peterbilt, International and Volvo. The leases also include top-brand construction cranes from Terex, Manitex, National and Altec. The portfolio includes 79 leases.

"This is a big step forward for our company,” Trebels said. “We are proud and delighted to see our business expand along with the growth of the equipment-leasing industry. A healthy, responsive leasing industry provides needed liquidity to entities on the move, from start-ups to multinationals, who can acquire through equipment leasing the fleets and other mobile assets they need to build, grow and prosper without the crush of large initial cash outlays."

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