Marriott & Co. Serves as Exclusive Financial Advisor to Commonwealth Trailer Rentals
Richmond, Va. — Marriott & Co., a premier middle market investment banking firm based in Richmond, VA, is pleased to announce that it served as the exclusive financial advisor to Commonwealth Trailer Rentals, Inc. (“CTR” or the “Company”) in its sale of its assets to Hale Trailer Brake & Wheel, Inc. (“Hale”), a multi-state provider of commercial trailer sales, rentals, parts and service based in Voorhees, NJ. The transaction closed on March 15, 2022. Terms of the transaction were not disclosed.
This represented Marriott & Co.’s seventh closed transaction in the last twelve months and its third transaction in the logistics and transportation industry in the past two years.
Founded in 1994 by Mark Taylor and Tommy Crowder Sr., CTR is a leading rental and leasing services provider of specialty over-the-road trailers with a focus on refrigerated and live floor trailers. The Company leases and rents a high-quality, modern fleet of over 500 trailers to customers throughout the Mid-Atlantic and Southeastern U.S. in a variety of industries including food processing, foodservice, agricultural, medical and pharmaceutical. CTR is headquartered in Garner, NC and has multiple operations on the East Coast from Maryland to Florida.
“When we hired Marriott & Co. to advise us on this transaction, it was imperative that we find a buyer that shares the same dedication to taking care of customers and employees as we have established at CTR over the past 28 years,” said Mark Taylor, former President and Co-Founder of CTR, “I am pleased to say that we were successful in that endeavor. Hale is a family-owned and operated business that shares many of our same core values and will continue to build upon the strong culture of service we created at CTR. I am so appreciative of the job that Marriott & Co. team did in making this transaction a resounding success.”
Justin Marriott, Managing Director of Marriott & Co. said, “The strategic fit between CTR and Hale was evident throughout the process, and we are thrilled to be a part of such a great outcome for all parties.”
“It was an absolute pleasure working with Mark and the rest of the CTR team,” said Bryan Burden, Managing Director of Marriott & Co., “We are very grateful of the trust they put into us to manage this important sale process on their behalf.”
Added Mark Taylor, “Marriott & Co. did a great job of running a professional sale process for CTR from start to finish. They were hands-on, efficient and meticulous in their handling of all of the details. We can’t thank the Marriott & Co. team enough for their invaluable expertise in leading us through this process.”
About Commonwealth Trailer Rentals:
Founded in 1994 by Mark Taylor and Tommy Crowder Sr., Commonwealth Trailer Rentals is a leading rental and leasing services provider of specialty over-the-road trailers. The Company’s expansive fleet consists of over 500 trailers, including single-temperature refrigerated trailers, multi-temperature refrigerated trailers and live floor trailers, all of which are well-maintained and equipped with modern technology. CTR serves a longstanding and diverse customer base that includes food processors, foodservice companies, timber and wood products companies, agricultural companies, medical companies, pharmaceutical companies, and others. Headquartered in Garner, NC, CTR operates throughout the Mid-Atlantic and Southeastern U.S. from Maryland to Florida. For more information, please visit www.rentctr.com.
About Hale Trailer Brake & Wheel:
Founded by Barry Hale Sr. over 40 years ago, Hale Trailer Brake & Wheel is one of the largest independent trailer dealers in North America. Hale is a one-stop-shop providing its customers with commercial trailer sales, rentals, parts and service. Based in Voorhees, NJ, Hale operates 13 branch locations up and down the East Coast from Maine to Florida and as far west as Iowa. For more information, please visit www.haletrailer.com.
About Marriott & Co.:
Headquartered in Richmond, VA, Marriott & Co. (www.marriott-co.com) is a premier, independent boutique investment banking firm focused on advising privately-held companies across a wide variety of industries. The firm provides merger and acquisition advisory and capital raising services primarily to family-held businesses and entrepreneurial business owners in the middle market. Marriott & Co.’s unique entrepreneurial culture enables the firm to tailor its services to meet the needs of its clients, and the firm’s professionals have an unparalleled understanding of the challenges and opportunities facing these companies and their owners today. By delivering senior banker attention, a high-touch approach to client service and best-in-class process execution to every assignment it undertakes, Marriott & Co. has established a long track record of closing successful transactions for clients all over the U.S.
Contact: Justin Marriott
Phone: (804) 344-0952