CLC

The move is part of the trailer leasing company’s commitment to the future of in-office work

PISCATAWAY, New Jersey –December 13, 2022—Leading trailer leasing and intermodal equipment provider, Contract Leasing Corp (“CLC”), announced today that the company recently moved its headquarters to 371 Hoes Lane, one of Piscataway’s premier corporate properties.  The company chose the location as part of its plan to continue investing in its strong in-person corporate culture.

“We’ve always had a very strong in-person work culture and, after going through nearly two years of disruption due to COVID-19 restrictions, we made the commitment to invest in an enhanced work space to support the health and wellness of our team.” Said CLC President and CEO Mike Goor. “Based on employee surveys, we came to recognize the negative toll that the effects of the pandemic have had on employee happiness and wellbeing, as well as how much cohesion had been created through years of our folks working together.  With this move, we’re proud to provide our employees with a fresh and inviting space that will help to reinvigorate them, allowing for a happier and more productive workplace.”

CLC’s new office spans 14,000 square feet and is located on the 3^rd floor, suite 301, of the 3-story glass atrium building at 371 Hoes Lane. With the new facilities, employees now have access to a café and lounge, a concierge, sun-filled shared seating areas, glass elevators and a fully equipped fitness center where CLC provides employees with company-paid fitness classes.

In early 2023, CLC plans on revealing more upgrades to its new office space and workplace culture initiative, including the unveiling of a custom mural, plans for its biennial team building extravaganza, and new volunteer opportunities where employees can take advantage of company paid volunteer days to assist at various CLC-supported non-profits such as The Community Food Bank of New Jersey and Think Big for Kids.

CLC’s recent headquarters move comes on the heels of multiple milestones including completing an acquisition by funds advised by Wafra Inc. (“Wafra”), a global alternative investment manager, and closing in on a third consecutive record sales year of its trailer and chassis leasing business.

Reflecting on the company’s successes, Mr. Goor remarked, “The opening of our new Piscataway headquarters is yet another step in positioning CLC for the continued growth and expansion of our long-term vision. We’re excited for our future and what lies ahead.”

About CLC

With over 30 years in operation, CLC is a leading trailer and chassis lessor. Headquartered in New Jersey, CLC serves its customers from 13 branches and depots primarily east of the Mississippi River. CLC offers a comprehensive suite of services for fleet management, including leasing, sales and consulting, as well as fleet maintenance and 24/7 roadside assistance. For more information, please visit www.contractleasing.net.

NEW YORK–(BUSINESS WIRE)–Contract Leasing Corporation (“CLC”), a leading regional trailer and intermodal chassis lessor, today announced its acquisition by funds advised by Wafra Inc. (“Wafra”), a global alternative investment manager. Founded in 1991 and family-owned and operated, CLC has been a trusted provider of trailing equipment and fleet management and maintenance services for over 30 years.

CLC maintains a strong regional presence across 13 branch and depot locations primarily east of the Mississippi, supported by a national third-party maintenance network and young fleet of approximately 15,700 trailer and chassis units. CLC’s Founder, Chief Executive Officer and President, Michael Goor, will continue to lead the business and remain a significant shareholder.

“Partnering with Wafra, a long-term oriented investor with sector expertise across transportation and logistics, will permit CLC to accelerate the growth of our trailer and chassis businesses, expand our geographic footprint, and enhance our ability to provide solutions-oriented service to our customers and partners nationwide,” said Michael Goor. “We are excited to work together to grow our enterprise.”

“Mike and the CLC executive team have built a successful company founded on shared values of customer service, operational excellence and high-quality leasing and ancillary services. Based on these fundamentals, we believe CLC is well positioned to benefit from strong secular growth within its industries,” said Adel Alderbas, Chief Investment Officer of Wafra.

Edward Tsai, Managing Director, Wafra, added, “This investment results from our studied review of essential real assets and transportation sectors, adding trailer and intermodal chassis to our existing investments in intermodal container, railcar, aviation and shipping, among others. Mike’s long-term vision is an excellent fit for the long-term nature of our capital. We look forward to working together to build on that success.”

Evercore Group served as exclusive financial advisor and Scudder Law Firm, P.C. served as legal advisor to CLC. Cleary Gottlieb Steen & Hamilton LLP and Seyfarth Shaw LLP served as legal advisor to Wafra. Regions Capital Markets and Wells Fargo Bank served as Joint Lead Arrangers and Joint Bookrunners on the transaction.

About CLC

With over 30 years in operation, CLC is a leading trailer and chassis lessor with a 15,700-unit fleet. Headquartered in New Jersey, CLC serves its customers from 13 branches and depots primarily east of the Mississippi River. CLC offers a comprehensive suite of services for fleet management, including leasing, sales and consulting, as well as fleet maintenance and 24/7 roadside assistance. For more information, please visit www.contractleasing.net.

About Wafra

Wafra is a global alternative investment manager with approximately $33 billion of assets under management. Wafra invests across a range of alternative assets, including real assets, infrastructure, real estate and strategic partnerships. By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra seeks to align and partner with high quality asset owners, companies and management teams. Headquartered in New York, Wafra has additional offices in London, Kuwait and Bermuda. For more information, please visit: www.wafra.com.

Contacts
For Media Inquiries:
Katrina Allen, Edelman
+1 (917) 640-2753
[email protected]

Contract Leasing Corp. (CLC), one of the leading commercial trailer leasing providers in North America, has announced the release of the second episode of FleetMasters – their podcast that debuted earlier this year.

FleetMasters presented by CLC is a media project aimed at addressing issues facing the industry since the onset of the COVID-19 pandemic. Hosted by CLC COO Matt Goor, the inaugural episode of FleetMasters featured an interview with CLC CEO Mike Goor and covered the leader’s perspectives on how businesses can pivot to navigate current supply chain concerns as well as thoughts on people-focused topics such as managing employees in an uncertain economic climate. The latest episode features an interview with CLC Executive Vice President of Intermodal, John Mizerek, and covers the current port backlog and the effects that has on the industry. The episode also features a segment about the importance of cybersecurity and the future of autonomous vehicles.

“Our goal with FleetMasters,” said CEO Mike Goor, “Is to offer people actionable ideas regarding issues like equipment shortages as well as to have conversations that will help better our industry as a whole—for equipment providers, their employees, and for drivers.”

FleetMasters initially launched on January 26th. The latest episode is now available on major streaming platforms including Spotify and Vimeo.

About Contract Leasing Corp (CLC)
As a family and employee owned and operated enterprise, CLC has been serving their customers for over 30 years. In addition to assisting customers as a trusted advisor for all their trailer and fleet management related business needs, CLC is dedicated to many social giving initiatives, regularly providing sponsorships and volunteer hours to improve the lives of those less fortunate. When it comes to customers or prospects, employees, or our surrounding community, CLC is a company that cares.

CLC is proud to present the first episode of their all-new podcast, FleetMasters, hosted by COO Matt Goor!

Episode 1 of FleetMasters discusses how the trailer industry has changed in the last 2 years.  Special guest Mike Goor discusses the effects of the COVID-19 pandemic on the industry, and presents his ideas about the future.  Click below to tune into Episode 1 of FleetMasters.

Click to listen to this podcast on Spotify or Apple Music

More About CLC Trailer Leasing and its Accomplishments

For the past 30 years, CLC had provided high-quality trailer leasing equipment across the contiguous United States.  Over the past year alone, it has grown its intermodal business with the launch of a custom chassis line that has been adopted by ports throughout the northeast and gulf coast.  CLC is constantly innovating, expanding, going above-and-beyond for its clients, and giving back to the community, and we look forward to continuing that legacy for the next 30 years and beyond.

In the last 30 years, CLC has grown exponentially to become one of the nation’s top trailer equipment providers.  CLC is proud to unveil their new digital brochure, featuring spreads on the company’s services, equipment, and involvement in the community.  Click here to learn all about “the way we roll.”

More About CLC Trailer Leasing and its Accomplishments

For the past 30 years, CLC had provided high-quality trailer leasing equipment across the contiguous United States.  Over the past year alone, it has grown its intermodal business with the launch of a custom chassis line that has been adopted by ports throughout the northeast and gulf coast.  CLC is constantly innovating, expanding, going above-and-beyond for its clients, and giving back to the community, and we look forward to continuing that legacy for the next 30 years and beyond.