NationaLease, through its relationship with ATS Investment Holdings, has taken an equity position in Stitzel Leasing LLC in York, PA, which will now operate under the name of York NationaLease.
The investment by ATS enabled Stitzel Leasing, under the direction of trucking industry veteran Dale Stitzel, to acquire the former York NationaLease, the company said. Stitzel Leasing currently operates over 100 vehicles from its York location, and is in the process of opening a Harrisburg, PA location.
According to the company, NationaLease established a private equity fund this April to transition existing NationaLease member companies to independent lessors in the truck leasing and rental industry.
"In terms of structure, the Stitzel Leasing, LLC venture is representative of the type of investments NationaLease will be making," said Mark Joyce, CFO & senior vp of NationaLease. "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."