SDR Ventures Advises Cooling Concepts on Acquisition by Star Leasing Company
SDR Ventures is pleased to announce that Cooling Concepts Refrigerated Trailer Leasing (“Cooling Concepts” or “the Company”) has been acquired by Star Leasing Company (“Star”), a portfolio of company of I Squared Capital (“I Squared”). SDR served as the exclusive sell-side advisor to Cooling Concepts throughout the transaction process.
Based in Belleville, Illinois, Cooling Concepts was established in 2010 by leasing industry veteran Tim Shasserre and a small group of investors to create a refrigerated trailer leasing company primarily focused on providing unparalleled customer service via innovative technology solutions. The owners set out to create a comprehensive fleet management company, not just another leasing firm. While most competitors focus on short-term rentals, CCL leases trailers on long-term, multi-year leases, and leverages customized technology to provide holistic fleet management services.
Tim Shasserre, President of Cooling Concepts added, “SDR Ventures sought out to help us find a strategic partner that would not only enable our future growth but would align with the culture Cooling Concepts had spent a decade building. We are excited to partner with Star and I Squared as we continue to expand our business model in the refrigerated trailer space. Cooling Concepts has been the premier provider of refrigerated semi-trailers, providing the highest levels of customer service. With expanded resources, we will be able to serve our current and future customers on a broader level.”
Scott Mitchell, Managing Director at SDR Ventures commented, “It was incredibly rewarding to be able to work alongside the Cooling Concepts team and ensure that their business and its employees would be empowered throughout their next chapter of growth. After navigating a complex marketplace, we ultimately were able to identify Star and I Squared as not only a strategic fit, but the right fit. The entire SDR Team is excited to watch the continued growth and shared success between these companies.”
Star Leasing Company is the “One Solution” for all its clients’ semi-trailer equipment needs. This includes rental, leasing, maintenance, repair, telematics, purchase, and resale. For almost five decades, Star has consistently provided its clients with service excellence, allowing them to focus on their core business with the confidence that Star executes on its service offerings.
Steve Jackson CEO of Star concluded, “The acquisition of Cooling Concepts brings a strong team that provides exceptional expertise in the temperature-controlled trailer space. Our companies have an exciting future together and we look forward to years of shared success.”
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