Energy 1 Buys Master Lease
October 2, 2012
Energy 1 Corp., headquartered in Boca Raton, Fla., has acquired Master Lease of Delaware, a truck and trailer leasing business based in Henderson, Colo.
Master Lease's customer base is mostly owner-operators and small trucking companies who haul for regional distributors. Master Lease's present portfolio consists of more than 150 active leasing customers with approximately 250 over-the-road trucks and trailers.
"Master Lease is now our licensed leasing agent for E1 trucks going forward," said Dean Steiger, president of Energy 1.
The company believes that Master Lease has the current capacity to sell or lease up to 40 to 60 trucks a month without the need to expand facilities or personnel. It also presently has customers in need of several hundred vehicles, but lacks current inventory for sale or lease.
E1 plans, going forward, to provide the funds - through its credit facilities - for new inventory purchases to be retrofit with E1's technology solutions for fuel efficiency and emission reduction while growing Master Lease's portfolio management income.