What Custom Truck One Source does

Custom Truck One Source (NYSE: CTOS) is the largest single-source provider of specialized truck and heavy equipment solutions in North America. Founded in 1996 by the Ross siblings in Kansas City, Missouri, the company was majority-owned by Blackstone from February 2015 until its 2023 IPO. It operates 40+ locations across the United States and Canada, serving approximately 3,000+ customers in electric utilities, rail, telecommunications, forestry, construction, oil and gas, waste management, refined fuel, and building supply — with named enterprise accounts including MYR Group, Quanta Services, MasTec, Asplundh, Wright Tree Service, Beacon, and SRS Distribution.

The company operates an integrated platform spanning the full equipment lifecycle: new and pre-owned equipment sales (1,800+ trucks in stock), a rental fleet of 9,000-10,000+ units with rental-purchase-option (RPO) agreements, aftermarket parts (38,000+ SKUs, $50MM inventory), in-house financing through Custom Truck Capital, and service capabilities anchored by 575+ service bays and 755+ production and service experts. Manufacturing is performed in-house by the Load King division (founded 1956), producing trailers, dump trucks, cranes, water trucks, and service trucks. Operational support is delivered via CINC, a 24/7 call-in center with 150+ in-house technicians. Asset liquidation is provided through CTOS Auctions, a monthly online auction platform with zero seller fees. The proprietary Pad Load Calculator and filterable e-commerce catalog provide digital customer interfaces.

Revenue is generated through one-time equipment sales, usage-based rental fees, financing income from Custom Truck Capital, professional service and remanufacturing fees, parts sales, and auction transaction flow. The go-to-market is sales-led, combining enterprise field sales targeting large utilities and infrastructure contractors, an e-commerce platform, inside sales through the CINC call center, monthly online auctions, and government sales through a Sourcewell cooperative contract. The company has 2,600+ employees and reports $1.8B+ in annual revenue, and is actively expanding via tuck-in acquisitions (SOS Fleet Services 2024, A&D Maintenance and Repair 2024) and greenfield locations (Utah 2024, Portland 2025).

Name

Custom Truck One Source

Legal name

Custom Truck One Source, Inc.

Website

https://customtruck.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

Custom Truck One Source is the largest single-source provider of specialized trucks and heavy equipment in North America, offering new and used sales, rentals, parts, service, financing, and auctions through 40+ locations serving utility, rail, telecom, and infrastructure customers.

Ownership category

akta.pro rank

Product category

Specialized Truck and Heavy Equipment Solutions

NAICS

Heavy Duty Truck Manufacturing (336120), Motor Vehicle Body and Trailer Manufacturing (33621), Truck Trailer Manufacturing (336212), Motor Vehicle Supplies and New Parts Merchant Wholesalers (42312)

SIC

Truck & Bus Bodies (3713), Industrial Trucks, Tractors, Trailors & Stackers (3537), Wholesale-Motor Vehicles & Motor Vehicle Parts & Supplies (5010), Construction, Mining & Materials Handling Machinery & Equip (3530)

akta.pro primary industry

Truck Body & Upfit Manufacturing (Box/Dump/Service/Refuse) (IMACAGAC)

akta.pro secondary industries

Off-Highway Vehicle Cabs, Frames & Attachments Manufacturing (Cabs/Booms/Buckets/Implements) (IMACAFAL), Vocational/Work Truck Manufacturing (Dump/Refuse/Mixer/Utility) (IMACABAF), Truck Body & Upfitting Manufacturing (Box Bodies/Service Bodies/Cranes/Liftgates) (IMACABAI)

Keywords

• Specialized truck equipment
• Heavy equipment rentals
• Vocational truck sales
• Aftermarket truck parts
• Equipment financing leasing

Headquarters

HQ city

Fort Wayne

HQ country

United States

HQ region

North America

Offices40 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. New Equipment Sales: Sales of new commercial trucks and heavy equipment including bucket trucks, diggers, cranes, dump trucks, and specialty vehicles from manufacturers like Terex, Versalift, Galbreath, and Load King on chassis from Peterbilt, Freightliner, and International.
2. Pre-Owned Equipment Sales: Sales of certified pre-owned retail-ready equipment through CTOS Marketplace and direct sales, featuring former rental fleet units with full maintenance histories.
3. Equipment Rentals: Short and long-term rental of vocational trucks and equipment with fleet of 9,000+ units across 35+ locations. Includes Rental Purchase Option (RPO) agreements for eventual ownership.
4. Parts and Accessories: Aftermarket parts and Load King truck parts sales with $50MM inventory, including components for engines, transmissions, brakes, hydraulics, electrical systems, and specialized equipment parts.
5. Service and Maintenance: Full-service repair, maintenance, remanufacturing, customization, and fabrication services through 575+ service bays and 755+ production and service experts across North America.
6. Equipment Financing: In-house financing through Custom Truck Capital providing flexible leasing and financing solutions including up to 100% financing, true leases, fair market leases, TRAC leases, and custom solutions for equipment acquisition.
7. Equipment Auctions: Monthly online auctions for equipment liquidation with zero seller fees, offering warranty add-ons and financing solutions for buyers, serving as a liquidation channel for aged assets.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Custom Truck One Source is a single-source provider of specialized truck and heavy equipment solutions, offering new and used equipment sales, a 9,000+ unit rental fleet, aftermarket parts, in-house service and customization, in-house financing through Custom Truck Capital, and equipment liquidation through CTOS Auctions. The company operates its own Load King manufacturing division producing truck bodies, trailers, cranes, dump trucks, water trucks, and service trucks, serving industries including utilities, rail, telecom, forestry, construction, oil and gas, waste, and building supply across 40+ North American locations.

Product overview

Custom Truck One Source is the largest single-source provider of specialized truck and heavy equipment solutions in North America, operating as a platform business model with multiple integrated service lines. The company's core offerings center on Load King, their in-house manufacturing division producing trailers, dump trucks, cranes, water trucks, and service trucks. These products are distributed through new equipment sales, a pre-owned/retail-ready sales program, the CTOS Marketplace (instant buy-now platform), and CTOS Auctions (monthly online auctions). Complementing equipment sales is an equipment rental fleet of 9,000+ units, a $50MM aftermarket parts inventory, in-house financing through Custom Truck Capital, and comprehensive service capabilities including maintenance, repair, customization, fabrication, and remanufacturing. Additional tools include an online Pad Load Calculator and a selection of safety/forestry tools. The company serves diverse industries including utilities, rail, telecom, construction, forestry, oil and gas, waste management, and building supply across 40+ North American locations.

Differentiator

Problem solved

Functional benefit

Brands

• Load King: In-house manufacturing division producing trailers, dump trucks, cranes, water trucks, service trucks and related specialty equipment.

Products and services

• New Equipment Sales Sales of new commercial trucks and heavy equipment including bucket trucks, forestry trucks, dump trucks, water trucks, boom trucks, cranes, vac equipment, service trucks, roll-offs, hook lifts, building supply trucks, and propane/refined fuel trucks from manufacturers like Terex, Versalift, Galbreath, and Load King on chassis from Peterbilt, Freightliner, and International.
• Pre-Owned Equipment Sales Pre-owned, retail-ready commercial trucks inspected, maintained, and prepared for sale, including former rental fleet units with complete maintenance histories.
• CTOS Marketplace Online marketplace enabling buyers to make offers or purchase equipment immediately at listed prices with buy-now functionality for used commercial trucks.
• Equipment Rentals Vocational truck and equipment rental fleet of over 9,000 units across 35+ North American locations, including Rental Purchase Option (RPO) agreements allowing customers to rent now and acquire equipment later.
• CTOS Auctions Monthly online equipment auctions for buying and selling heavy equipment with zero seller fees, warranty add-ons, and financing solutions. Proceeds available within 14 days or can be applied toward new purchases.
• Aftermarket Parts $50MM parts inventory including Load King parts for transmission, suspension, brakes, ignition, emissions, electrical components, engines, tires, wheels, tracks, rollers, trailer parts, crane parts, water truck parts, and body parts.
• Custom Truck Capital Financing In-house financing and leasing provider offering flexible financing plans, up to 100% financing, multiple lease options (true leases, fair market leases, TRAC leases, full payout leases), and custom solutions for equipment acquisition.
• Service and Maintenance Over 575 state-of-the-art service bays with 755+ production and service experts offering routine maintenance, emergency repairs, equipment customization, remanufacturing, boom reconstruction, crane/bucket/digger service, and 24/7 call center support.
• Equipment Customization and Fabrication Custom design and fabrication of chassis frames, suspensions, bodies, and equipment modifications specializing in hydraulics, chassis, and frame modifications for specialized truck configurations.
• Remanufacturing Revitalization of customer assets through remanufacturing aged equipment, maximizing performance over longer life cycles and optimizing utilization levels.
• Load King Manufacturing In-house manufacturing division producing trailers, dump trucks, cranes, water trucks, service trucks, and related equipment. Founded in 1956, specializing in standard and custom parts for commercial trucks, trailers, and cranes.
• Tools and Safety Equipment Extensive selection of tools including blocks, dielectric/hotline tools, forestry equipment kits, safety equipment, and general tools available for purchase or rental.

Quantifiable outcome

• 30+ years in business with $1.8B+ annual revenue demonstrating scale and market leadership
• +3 more outcomes

Named customers9 records

Segments9 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Load King ManufacturingcoreOEM/ Whitelabel/ Licensing PartnerLoad King is the in-house manufacturing division of Custom Truck One Source, producing specialized truck bodies, trailers, cranes, dump trucks, water trucks, and service trucks since 1956. Load King products are sold exclusively through Custom Truck One Source locations.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Wabash National Corporation: Wabash is a major trailer and truck body manufacturer with overlap to Load King's trailer and body production. Comparable in materials, fabrication scale, and commercial vehicle customer base.
• Altec Inc. Altec is the leading manufacturer of bucket trucks, aerial devices, and digger derricks for electric utility and telecom customers—directly competing with CTOS's Load King and upfit portfolio in the same end markets.

Broad incumbents

• Terex Corporation: Terex supplies aerial work platforms and materials processing equipment that CTOS distributes and upfits onto chassis. Overlap in cranes, utility equipment, and specialty vocational categories makes it a comparable OEM/peer.
• United Rentals: The largest equipment rental company in North America, with aerial, material handling, and specialty fleet categories that overlap with CTOS's 10,000+ unit rental business—key competitor for vocational rental demand.
• Federal Signal Corporation: Federal Signal manufactures specialty vehicles (refuse, street sweepers, vacuum trucks) and environmental equipment—overlapping with CTOS's Waste & Refuse vertical and broader specialty chassis upfit capabilities.
• Oshkosh Corporation: Oshkosh owns JLG aerial work platforms and McNeilus refuse trucks—directly adjacent to CTOS's crane, aerial, and waste/refuse verticals with shared utility and municipal customers.
• Herc Holdings: Herc Holdings operates a national equipment rental fleet including aerial and material handling categories. Comparable to CTOS's rental business model with similar customer types and capital intensity.
• REV Group: REV Group manufactures specialty vehicles across multiple verticals (fire, ambulance, RV, commercial). Overlap with CTOS in specialty vehicle manufacturing and end-market customer base makes it a comparable public peer.
• Ashtead Group (Sunbelt Rentals): Sunbelt Rentals (parent Ashtead Group) is the second-largest equipment rental company in North America. Competes head-to-head with CTOS for specialty and aerial fleet categories at national accounts.

Emerging players

• Manitowoc Company: Manitowoc designs and manufactures cranes (all-terrain, crawler, tower)—directly overlapping with Load King's crane product line and serving similar construction and infrastructure customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NESCOSpecialty
• YouTubeyoutube.com/channel/UCOn8Ue_ylGbpMFI_UsyIOYw
• Facebookfacebook.com/NESCOSpecialty
• LinkedInlinkedin.com/company/custom-truck-one-source
• Instagraminstagram.com/ctonesource

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments

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

Frequently asked questions about Custom Truck One Source