Star Leasing (I Squared Capital Portfolio) Acquires Cooling Concepts

I Squared Capital Acquires Star Leasing Company

March 24, 2021

Logistics & Distribution

I Squared Capital, through its ISQ Global Infrastructure Fund II, has acquired Star Leasing Company, a Columbus, Ohio-based trailer lessor with a fleet of approximately 19,000 trailers and about 300 employees. The acquisition creates a U.S. semi-trailer platform for I Squared, enabling geographic expansion, enhanced service offerings (rentals, leasing, maintenance, sales, and breakdown services), and opportunities for bolt-on acquisitions.

I Squared-backed Star Leasing Combines with Commercial Trailer Leasing and North East Trailer Services

September 6, 2023

Transportation

Star Leasing Company, a portfolio company of I Squared Capital, has signed an agreement to combine with Commercial Trailer Leasing (CTL) and North East Trailer Services (NETS). The combination creates one of the largest full-service trailer lessors in the United States with an expected combined fleet of approximately 55,000 trailers and expanded national coverage.

Penske Truck Leasing Acquires Star Truck Rentals, Inc.

April 26, 2023

Trucking & Fleet

Penske Truck Leasing agreed to acquire Star Truck Rentals, Inc., a Michigan-based transportation services company that offers full-service leasing, commercial truck rental, contract maintenance and used truck sales. The acquisition adds Star’s ~1,900 vehicles and 18 locations across Michigan and Indiana to Penske’s network; financial terms were not disclosed and the transaction was expected to close in Q2 2023 subject to customary approvals.

Trane Technologies Acquires Stellar Energy Americas

February 18, 2026

HVAC & Mechanical

Trane Technologies has completed the acquisition of Stellar Energy Americas, a provider of turnkey and modular data center cooling solutions. The purchase strengthens Trane's data center thermal management capabilities and accelerates deployment of prefabricated, scalable cooling systems to meet growing demand in the data center market.

Service Logic (Warburg Pincus portfolio company) Acquires Atlantic Cooling Technologies, LLC

January 17, 2019

HVAC & Mechanical

Service Logic, a Warburg Pincus portfolio company, acquired Atlantic Cooling Technologies and Services, LLC; the transaction closed on January 17, 2019. Akerman LLP advised Atlantic Cooling Technologies on the sale as Service Logic expands its HVAC/mechanical services platform.

Corbel Capital Partners Makes Minority Investment in IcyBreeze

December 16, 2022

Consumer Products

Los Angeles-based Corbel Capital Partners acquired a minority equity stake in IcyBreeze (Sweetwater, Texas), a maker of portable air-conditioning and cooler products. The investment, which closed December 12, 2022, is intended to professionalize the business and support continued growth in unit sales, revenue, and profitability.