Scrap Metal Services & Milestone Equipment Acquire GE Capital Intermodal Trailer Fleet

Chicago, Illinois – Scrap Metal Services LLC (SMS) and Milestone Equipment Holdings today announced the acquisition of 7,300 intermodal dry van trailers. These heavy duty dry van trailers are operated under leases throughout North America in rail intermodal service. Financial terms of the transaction were not disclosed. SMS and MEC have created a new JV Entity call Scrapstone Intermodal Services, LLC for this transaction as well all future intermodal opportunities. Robert Thull, Milestone’s President and founder stated: “Milestone is now the largest domestic intermodal container and intermodal trailer equipment lessor. We are committed to continued rapid growth and investments in intermodal equipment to provide flexible operating leases to our customers.” Jeffry K. Gertler, Chief Executive Officer of Scrap Metal Services, stated, “This acquisition allows Scrap Metal Services to expand its role in the intermodal marketplace, a market segment that we believe will experience considerable growth over the next several years.”