{"id":294007,"date":"2026-05-15T04:33:20","date_gmt":"2026-05-15T04:33:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/294007\/"},"modified":"2026-05-15T04:33:20","modified_gmt":"2026-05-15T04:33:20","slug":"irvings-bmo-transportation-and-vendor-finance-acquired-by-nyc-based-stonepeak-dallas-innovates","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/294007\/","title":{"rendered":"Irving’s BMO Transportation and\u00a0Vendor Finance Acquired by\u00a0NYC-Based Stonepeak \u00bb Dallas Innovates"},"content":{"rendered":"

BMO Transportation Finance and Vendor Finance will be acquired by NYC-based Stonepeak following an agreement was reached by Stonepeak and BMO\u2019s parent company BMO Financial Group, the nation\u2019s eighth largest bank by assets. As part of the deal, BMO will reinvest a 19.9% minority interest in the business.<\/p>\n

Based in Irving, BMO Transportation and Vendor Finance offers customized financing solutions for a variety of transportation assets and equipment, including trucks, trailers, and specialized equipment for agriculture, construction, and other end markets. It\u2019s one of the largest lenders to the commercial truck and trailer sector in North America, with over 700 employees and operations across the U.S. and Canada.<\/p>\n

Upon the deal\u2019s close, the business will continue to be led by Gary Kempinski, head of transportation finance & vendor rinance at BMO.<\/p>\n

\u201cWe could not have envisioned a better partner to lead BMO Transportation and Vendor Finance into its next chapter,\u201d Kempinski said in a statement. \u201cStonepeak brings deep experience, operating expertise, and relationships in North American transportation and logistics infrastructure, and particularly in asset leasing businesses. With their support and strategic partnership, we are positioned incredibly well for sustained success.\u201d<\/p>\n

Targeting transportation asset leasing<\/p>\n

Stonepeak\u2019s investment follows its long-held concentration on transportation-focused asset leasing businesses, the firm said. To date, Stonepeak has invested in nine such platforms, representing nearly $28 billion in enterprise value at the time of acquisition, including Textainer, which owns the world\u2019s largest and most diversified container fleet; Air Transport Services Group, the largest cargo aircraft lessor in North America; and TRAC Intermodal, the largest marine chassis provider in the U.S.<\/p>\n

\u201cBuilding on decades of sector expertise, BMO Transportation and Vendor Finance has established itself as one of North America\u2019s premier transportation financing platforms,\u201d said Will Schleier, senior managing director at Stonepeak.<\/p>\n

\u201cWe\u2019re excited to work closely with BMO and the outstanding leadership team in place to invest further in the business, build on its strong performance, and grow its commercial customer base while preserving the culture, reputation, and relationships that have made the business so successful to date,\u201d Schleier added in a statement.<\/p>\n

The transaction\u2014which includes asset-based financing from PGIM, the global asset management business of Prudential Financial, Inc. and bank financing with\u00a0Bank of America as Lead Financing Arranger\u2014is expected to close in the fourth quarter of 2026, subject to customary conditions, including regulatory approvals.<\/p>\n

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