Transport International Pool (TIP), a trailer leasing subsidiary of GE Capital Co. based in Devon, PA, has acquired an additional 5% stake in Internet venture TruckersB2B through a share purchase arrangement with Comdata Corp. of Nashville. The acquisition increases TIP's total holdings in TruckersB2B to approximately 10%.
TruckersB2B is an electronic commerce company that provides pre-negotiated savings on fuel, tires, equipment and other products and services purchased by small and medium-sized trucking companies and private fleets. TruckersB2B, owned by Indianapolis-based truckload conglomerate Celadon Group, aggregates the volume purchasing capability of its fleet members to achieve a lower cost of goods and services than could usually be obtained by its members individually.
Celadon, in turn, has also increased its direct holdings in Truckers B2B by 1% through a similar share purchase arrangement with Comdata. Comdata will retain a minority ownership position in TruckersB2B. Celadon Group's subsidiary, Celadon E-Commerce, is the majority owner of TruckersB2B