Transport Enterprise Leasing began its life in the trucking industry, selling used trucks and trailers as well as remarketing used equipment for Carriers. Today, TEL conducts all leasing and off-lease sales as Transport Enterprise Leasing (TEL), while its wholesale and remarketing activities happen under our subsidiary, Lookout Valley Equipment Sales. Although the wheels of our business started rolling in late 2004, TEL did not develop our Lease Purchase division until seven years later. In 2011, we began developing used-equipment leasing programs for fleets and owner-operators who wanted to grow their own businesses, while still being supported by a carrier umbrella. Our Lease Purchase concept really took off and has been well received by the driver community.
Between 2011 and 2013, we began to establish TEL as the premier commercial truck and trailer equipment providers, as our focus shifted from used equipment to new equipment. In late 2013, we purchased 20 new trucks to introduce into the Lease Purchase division. By providing owner-operators with state-of-the-art, reliable trucks with extended manufacturer warranties, we’ve enabled TEL’s Lease Purchase participants the highest opportunity to succeed. We’re able to keep our owner-operators’ costs down for routine maintenance, and in turn, provide participating Carriers a reliable source of capacity. Our turnover rates are well below industry averages. These same new truck benefits have carried over to fleet leasing as well.
In 2006, TEL had only three employees. Today, our business has grown exponentially. TEL currently employs a staff of 50+, while holding over 7,000 pieces of equipment in our lease portfolios, while averaging 6,000+ wholesale transactions annually.
What does this mean for you? As we continue to grow and expand, our strength in the marketplace will allow us to offer you quick access to best-value equipment liquidation and stable sustainable lease pricing—for both Fleet and Lease Purchase customers. We strive to provide strong lines of communication, while maintaining a high level of honesty and integrity, in all of our interactions. Your success is important to us, and our staff is here to provide the level of responsiveness that your business deserves.