Transportation Equipment Network

What Transportation Equipment Network does

Transportation Equipment Network (TEN) is a North American full-service trailer leasing company formed in 2024 through the unification of multiple legacy operators including Star Leasing, Cooling Concepts, NETS, CTL, TIP Canada, and Boston Trailer under the ownership of private equity firm I Squared Capital. TEN operates the largest trailer fleet in North America with more than 86,000 trailers supported by approximately 49 service locations, 249 service bays, 105+ mobile service trucks, 400 mechanics, and roughly 1,000 employees. The company serves customers across retail, manufacturing, food and beverage, pharmaceutical, e-commerce, construction, and third-party logistics verticals, offering multi-year full-service leases that bundle the trailer, maintenance, telematics, and roadside service into a single contract.

TEN's technology stack centers on the My TEN Portal and TEN Mobile App customer interfaces, backed by Trailer Telematics infrastructure that delivers predictive maintenance alerts, real-time anomaly detection, and automated inspection workflows. Sub-brands TEN Cool (refrigerated), TEN Space (storage and mobile), and TEN Ready (specialized) extend the platform into adjacent verticals beyond standard dry-van leasing. Revenue is generated primarily through recurring full-service lease contracts with embedded maintenance and telematics, supplemented by short-term rental income and standalone service revenue. The go-to-market combines enterprise fleet deals (exemplified by a disclosed $50M agreement with USA Truck) with mid-market and regional accounts served through the dense service location network, with named customers including Evans Network, Steam Logistics, and Fura.

Strategic momentum is supported by approximately $600M in reported funding from Mubadala and Qatar Investment Authority routed through I Squared Capital, a continued M&A cadence with the Boston Trailer acquisition completed in November 2024 and TIP Canada in 2024, and recent senior leadership appointments including CEO Hooman Yazhari (November 2025), COO Ari Silkey from Amazon Freight (June 2026) to lead AI initiatives, and SVP Mark Domzalski (May 2026). The company combines asset-heavy operating scale with applied AI capabilities aimed at improving fleet utilization and reducing maintenance cost per trailer.

Name

Transportation Equipment Network

Legal name

TEN Transportation Equipment Network

Website

https://tenleasing.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Transportation Equipment Network (TEN) is the largest full-service trailer leasing company in North America, operating 86,000+ trailers across 49 locations and serving retail, manufacturing, food and beverage, pharma, e-commerce, construction, and 3PL customers.

Ownership category

akta.pro rank

Product category

Trailer Leasing & Fleet Management Services

NAICS

Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing (532120), Automotive Equipment Rental and Leasing (5321)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510), Terminal Maintenance Facilities For Motor Freight Transport (4231)

akta.pro primary industry

Box Truck / Dry Van Truck Leasing & Rental (TLABABAF)

akta.pro secondary industry

Trailer Maintenance, Inspection & Roadside Programs (as part of lease/rental) (TLABACAK)

Keywords

• Semi-trailer leasing
• Trailer rental services
• Fleet maintenance
• Refrigerated transport
• Telematics fleet management

Headquarters

HQ city

Dublin

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Semi-Trailer Leasing: Long-term leasing of dry van trailers, refrigerated trailers (TEN Cool), flatbed trailers, chassis, heated trailers, and storage/shuttle trailers. Offers both full-service and net lease options. Full-service leases include maintenance coverage; net leases provide lower monthly payments with customer-managed maintenance.
2. Semi-Trailer Rentals: Short-term and seasonal rental of trailers for peak demand periods, project-based needs, or fleet supplementation. Provides flexibility for customers needing temporary equipment without long-term commitment.
3. TEN Care Maintenance & Repair Services: Comprehensive maintenance, repair, and 24/7 emergency roadside assistance services. Includes scheduled preventative maintenance, DOT/FHWA inspections, tire repairs, on-site mobile service, and reefer unit diagnostics. Services available across 45+ locations and via 105+ mobile service trucks.
4. Enterprise Fleet Solutions: Customized enterprise agreements including large-scale lease agreements such as the $50 million deal with USA Truck. Includes expansion of specialized business lines like TEN Cool (refrigerated) and TEN Space (storage/shuttle).

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Transportation Equipment Network (TEN) leases, rents, and maintains semi-trailers for commercial logistics operators across the US and Canada, operating approximately 86,000 trailers and 45+ service locations. Its core offerings are long-term full-service and net trailer leases, short-term/seasonal rentals, and 24/7 maintenance and repair (TEN Care), with specialized sub-brands for refrigerated/heated trailers (TEN Cool), storage and shuttle trailers (TEN Space), and emergency/disaster response (TEN Ready). Customers manage their fleets through TEN's telematics, My TEN customer portal, and TEN Mobile App.

Product overview

Transportation Equipment Network (TEN) is a full-service trailer leasing and fleet management platform offering a unified portfolio of products and services. The core offerings include Trailer Leasing (long-term full-service and net lease options) and Trailer Rentals (short-term and seasonal options), supported by the TEN Care maintenance and repair module. The company operates specialized sub-brands: TEN Cool for temperature-controlled solutions (refrigerated and heated trailers), TEN Space for storage and shuttle services, and TEN Ready for disaster recovery support. Equipment portfolio spans dry van trailers, refrigerated trailers, heated trailers, flatbed trailers, chassis, and shuttle/storage trailers, supported by technology features including Trailer Telematics, My TEN Portal, TEN Mobile App, Digital Gate & Inspections, and Automated Alerts. The platform is built around centralized fleet data management, real-time monitoring, and compliance automation across 45+ locations in the US and Canada.

Differentiator

Problem solved

Functional benefit

Brands

• TEN Cool: Dedicated sub-brand specializing in temperature-controlled solutions including refrigerated and heated trailers
• TEN Space
• TEN Ready
• TEN Care

Products and services

• Semi-Trailer Leasing Long-term leasing of semi-trailers (dry vans, refrigerated, heated, flatbeds, chassis) with full-service and net lease options, flexible terms, and optional maintenance coverage for businesses needing scalable fleet capacity without large capital outlays.
• Semi-Trailer Rentals Short-term and seasonal semi-trailer rentals for peak demand, project-based needs, or fleet supplementation, with flexible daily-to-seasonal terms and no long-term commitment.
• TEN Care Maintenance & Repair Comprehensive preventive maintenance, repair, DOT/FHWA inspections, tire repairs, mobile service, and 24/7 emergency roadside assistance across 45+ locations and 105+ mobile service trucks, supported by the TEN Care Fleet Management Center for real-time monitoring and predictive alerts.
• TEN Cool — Refrigerated & Heated Trailer Solutions Specialized temperature-controlled trailer solutions for cold chain logistics, featuring custom trailer design, 24/7 Fleet Mission Control monitoring, multi-zone temperature management, CARB-compliant engines, and proactive maintenance for refrigerated and heated trailers.
• TEN Space — Storage & Shuttle Trailer Solutions Storage and shuttle trailer solutions with customized contract terms and adaptable rate structures, providing secure on-site storage and efficient cargo transport for 3PLs, LTL carriers, manufacturers, and other industries needing overflow capacity.
• TEN Ready — Emergency & Disaster Response Fleet Rapid-response disaster recovery and emergency fleet support initiative providing pre-positioned trailers and rapid deployment of equipment during hurricanes, floods, and other unexpected disruptions for government agencies, municipalities, and aid organizations.
• Dry Van Trailers Secure and reliable dry van trailers available in sizes from 28-ft to 53-ft (pup vans and dry vans), with composite plate or sheet-and-post construction, GPS, various door types, liftgate options, and aerodynamic features for general freight transport.
• Refrigerated Trailers (Reefers) Temperature-controlled refrigerated trailers (reefers) with precise cooling for cold-chain logistics, available in 28-ft to 53-ft sizes with single-temp/multi-temp options, CARB-compliant engines, and hybrid reefer engine technology.
• Heated Trailers Temperature-controlled heated trailers for transporting temperature-sensitive goods in freezing conditions, available in 32-ft to 53-ft sizes with precise heating controls, zero-emissions options, and fuel-efficient designs.
• Flatbed Trailers Flexible and robust flatbed trailers with specifications to secure oversized loads for construction, manufacturing, and heavy equipment transport.
• Chassis Versatile chassis for efficient container transport, supporting intermodal operations and container handling.
• Shuttle & Storage Trailers Durable dry van trailers for on-site storage and cartage operations, designed to support businesses with reliable storage solutions and seamless cargo transport for 3PLs, manufacturers, and warehousing operations.
• Dollies Trailer dollies enabling seamless connections between trailers for forming road trains or double-trailer configurations, enhancing cargo capacity and operational efficiency.

Quantifiable outcome

• Fleet Surpasses 80,000 Trailers - Positioned as largest full-service trailer lessor in North America
• +2 more outcomes

Named customers4 records

Segments10 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature7 records

Scale indicators10 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Penske Truck Leasing: One of the largest full-service truck and trailer leasing providers in North America, serving enterprise and mid-market customers with integrated leasing, rental, and maintenance solutions across a comparable multi-location footprint.
• Ryder System: Major North American fleet leasing, rental, and supply chain solutions provider offering full-service lease, commercial rental, and maintenance services for trucks and trailers across enterprise customers.
• GATX Corporation: Specializes in railcar and aircraft leasing and also operates a North American tank and trailer leasing business, directly competing with TEN in trailer fleet leasing for transportation and logistics customers.
• TIP Trailer Services: One of the largest trailer leasing and rental companies globally, also owned by I Squared Capital, offering similar dry van, refrigerated, and specialized trailer leasing and maintenance services across multiple geographies.
• Flexi-Van Leasing: Leading North American chassis and intermodal equipment lessor providing leasing, rental, and storage of chassis, containers, and trailers to intermodal and logistics customers.
• Milestone Equipment Holdings: Provider of trailer rental, leasing, and storage solutions to commercial trucking customers in North America, with a comparable multi-location operating model and fleet-based service offering.
• DCLI (Direct ChassisLink): Major chassis leasing and pool operator serving intermodal customers across US ports and inland locations, directly competing with TEN's chassis leasing and intermodal support capabilities.
• Premier Trailer Leasing: National trailer rental, leasing, and storage provider serving commercial trucking, retail, and logistics customers with a comparable full-service and flexible-term leasing model.
• Mace Trailer Leasing: US trailer leasing and storage operator providing semi-trailer leasing, rental, and on-site storage services to commercial customers with a regionally focused but comparable service portfolio.

Others

• CHEP: Global pooled logistics equipment provider (pallets, containers, automotive containers) operating a sharing/rental model adjacent to TEN's trailer leasing business, serving many of the same supply chain and logistics customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TEN_Leasing
• Facebookfacebook.com/transportationequipmentnetwork
• LinkedInlinkedin.com/company/ten-transportationequipmentnetwork
• Instagraminstagram.com/tenleasing

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Transportation Equipment Network