Stonepeak Acquires BMO's Major Trucking Lending Unit in Strategic Deal

Key Details Canada's BMO has sold its transportation lending business to private equity firm Stonepeak, marking a major shift in trucking finance. BMO will retain a 19.9% minority stake in the unit, which also includes the bank's vendor finance business. The sale price was not disclosed, but represents the end of BMO's majority ownership since acquiring the group from GE Capital in 2015. What Changes for Trucking Stonepeak already owns Trac Intermodal, a major chassis provider, giving it substantial leverage in logistics infrastructure. BMO's transportation group is considered one of the largest lenders to the trucking industry, so this transition could reshape credit conditions across the sector. The existing management team, led by Gary Kempsinski, will remain in place during the transition. Why It Matters The sale ends a significant feature of trucking conferences - BMO's premium exhibition booth placement. More importantly, the industry will lose access to BMO's quarterly earnings disclosures, which provided transparent insights into trucking credit conditions four times annually. This data has been valuable for understanding the sector's financial health and lending trends. Next Steps A new company name for the transportation unit has not yet been announced. While Stonepeak may claim premium booth space at future industry events, BMO's brand will no longer dominate the entrance.