ITE Management to acquire the chassis business of Barings and Partners Group-backed Milestone Equipment Holdings.

ITE Management, an alternative asset manager focused on industrial transportation and infrastructure, agreed to acquire the chassis business of Barings and Partners Group-backed Milestone Equipment Holdings, a lessor of mission-critical transportation equipment in the US. Financial terms were not disclosed. The transaction brings approximately 36k modern chassis and Milestone's chassis team to ITE's portfolio. Milestone Chassis will operate as a standalone company based in the Chicago area. This transaction expands ITE's diversified, multimodal footprint across essential transportation infrastructure and establishes a new independent chassis provider in the US.