Custom Truck One Source is excited to announce our recent acquisition of HiRail Leasing Group (HiRail), which expands our reach in the Canadian market and our railroad-focused equipment offerings. The acquisition includes two additional HiRail entities – Northshore Rail Contracting and Heavy Equipment Repairs.
Based in Ontario with an additional location in Alberta, HiRail is among the largest rail equipment rental providers in Canada. HiRail serves the country’s leading railways and rail contractors with a fleet of more than 600 rental units, bringing the combined entity’s rental fleet to more than 9000 total units. Like Custom Truck, HiRail serves rail clientele with a broad selection of light, medium and heavy-duty truck-mounted builds, including hi-rail grapples, rotary dumps, knuckleboom, mechanics and welder trucks; as well as rail gear and attachment offerings.
“HiRail is delighted by the acquisition and excited for what’s on our horizon now that we’re part of the Custom Truck One Source family,” said HiRail Leasing President Shirley Foster. “This allows us to expand the selection of rental vehicles currently available to our railroad customers across North America and beyond. You can still expect the exceptional level of service we provide, as all HiRail employees will remain with the team. We greatly look forward to this new adventure with everyone.”
Existing Custom Truck rail clientele will enjoy the addition of HiRail’s inventory into our already wide-ranging fleet. Additionally, Custom Truck’s growing Canadian customer base will enjoy improved access to our leading equipment offerings.
“We are excited to welcome HiRail to the Custom Truck team,” said Custom Truck CEO Fred Ross. “This acquisition allows us to accelerate growth in our core rental business. We will leverage our one-stop-shop capabilities in rental, sales, equipment upfitting, and service to meet the critical equipment needs of new and existing customers across Canada. We are impressed with the business HiRail has built in Canada and look forward to working with all of their existing employees.”
Custom Truck President and COO Ryan McMonagle added, “HiRail has earned the trust of Canada’s leading rail customers by providing reliable, best-in-class service for over thirty years. We look forward to carrying on that tradition and building on that reputation to expand our presence in Canada and to support our customers, employees and communities.”
About Custom Truck One Source
Custom Truck One Source (Custom Truck) is the first true single-source provider of specialized truck and heavy equipment solutions, offering a vast rental fleet, new and used equipment sales, aftermarket parts and tooling supply, world-class service, customization and remanufacturing, in-house financing solutions and reliable liquidity of aged assets through our auction. Our equipment breadth, seasoned experts, and integrated network of locations across North America together deliver superior service and unmatched efficiency to our customers. For more information about Custom Truck One Source, dig in at customtruck.com and keep up with us on Facebook, Instagram, and Twitter.
