Transaction Announcement - Hi-Rail Leasing Group

Toronto, ON: Distinct Capital Partners Inc. is pleased to announce the acquisition of its client, the Hi-Rail Leasing Group by Custom Truck One Source, Inc. (NYSE: CTOS).

Hi-Rail Leasing, based in Elliot Lake, Ontario, is one of the largest rail equipment rental providers in Canada with a fleet of over 600 rental units serving Canada’s leading railways and rail contractors. Custom Truck One Source, Inc., based in Kansas City, Missouri, with a rental fleet of over 9,000 units is one of the largest providers of specialty equipment, parts, tools, accessories and services to the electric utility transmission and distribution, telecommunications and rail markets in North America. For more information see the following press release: https://www.customtruck.com/news/custom-truck-one-source-acquires-hirail-leasing-group/.

Distinct Capital Partners Inc. was engaged by the founder and principal shareholder of Hi-Rail, to assist with succession planning and to source a purchaser for the Company. Pursuant to its mandate, Distinct Capital identified the purchaser, assisted with the valuation, due diligence and negotiations to successfully complete the transaction.