Katie Bennett Joins FlexiVan as New General Counsel

FOR IMMEDIATE RELEASE

Scottsdale, AZ ‒ July 21, 2020

FlexiVan is pleased to announce the appointment of Katie Bennett as its new General Counsel, effective July 13, 2020. “Katie’s extensive legal expertise across a broad range of disciplines, especially her work related to governance, compliance, technology and intellectual property, combined with her industry experience in the equipment leasing space, is a rare skill set that will undoubtedly benefit FlexiVan’s development going forward,” comments Ron Widdows, FlexiVan CEO.

Katie comes to FlexiVan with over 14 years of extensive legal and business experience in a range of industries, including logistics, technology, and financial services. Meanwhile, as an award-winning board adviser and executive leader, she has a proven track record of leveraging cross-functional experience in support of leadership teams.

Most recently, Katie served as General Counsel to Premier Trailer Leasing, Inc. in Texas, one of the largest trailer leasing and rental companies in the U.S. Prior to this, she held positions at different law firms in Texas and California, including Jones Day and Quinn Emanuel Urquhart Oliver & Hedges, LLP. She is a graduate of the Columbia University School of Law and current Board Member on the Texas General Counsel Forum and Women In-House Network.

Katie Bennett joins the organization at a critical time following the recent merger between FlexiVan and American Intermodal Management (AIM) announced earlier this year. With various integration efforts underway, her wealth of legal experience will be instrumental in helping to develop the new FlexiVan organization. As Ron Widdows said, “Katie brings an energy and drive to her role, not only as a recognized legal professional, but also as the newest member of our senior leadership team. We are most fortunate to have Katie joining us on our journey to build an even better FlexiVan.”

About FlexiVan

FlexiVan has been a leader in intermodal chassis leasing services throughout North America since 1955. It manages a fleet of over 120,000 chassis with a wide network of depots and service centers located in key intermodal markets. FlexiVan’s leasing options range from managed fleets and chassis pool user agreements, to daily, short and long term contracts with loyal customers that include motor carriers, logistics providers, ocean carriers, railroads and beneficial cargo owners. With a fleet of more than 20,000 premium chassis equipped with GPS, powered by its propriety platform AIM360, FlexiVan offers a technology-driven solution for shortening supply chains and lowering costs. The company’s business model combines integrity, proactive-disciplined management processes, high quality assets, innovative technology application, and a passion for excellence to achieve maximum value creation.

In February of 2020, I Squared Capital, the owners of American Intermodal Management (AIM), acquired FlexiVan and merged the two companies. The combination of organizations leverages a strong nationwide infrastructure and customer base, while offering the widest range of premium equipment and products in the marketplace.  The company is based in Scottsdale, Arizona.

For further information, contact:

Alanna Fenner – Director, Corporate Communications, FlexiVan

AFenner@FlexiVan.com, Tel. (908) 603-1605, www.FlexiVan.com

EverPort Terminal Service (ETS) – Oakland, CA

Gate Fee Increase

Effective July 1, 2020

Attention all Ocean and Motor Carriers in the Bay Area Chassis Pool (BACP):

FlexiVan has been notified by EverPort Terminal Services (ETS) that effective July 1, 2020, the ETS Gate Fee will be increased to $6.10 (from $5.84) per in and out gate move.

While FlexiVan continues to be adamantly opposed to terminal imposed gate fees, we unfortunately have no choice but must pass these fees on to our customers per our BACP Chassis Pool Agreements.

These gate fees are subject to annual review by the terminals and additional terminals may begin charging gate fees as well.

Sincerely,

FlexiVan

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FOR IMMEDIATE RELEASE  

Kenilworth, NJ ‒ February 18, 2020

Announced today, the merger of American Intermodal Management, LLC (“AIM”) and FlexiVan Leasing has been completed.

The combined business moves forward as FlexiVan, and we begin an exciting journey to build a new business that will serve our customers even better.

“Today’s operating environment is complex and subject to the shifting dynamics of international trade.  FlexiVan will continue to focus on service excellence while leveraging advanced technology and business intelligence to offer the widest range of premium equipment and products in the market”, said Ronald D. Widdows, CEO.

About FlexiVan

FlexiVan^® has been a leader in intermodal chassis leasing services in North America since 1955. It manages over 125,000 units in over 300 locations across the country and has nine fully owned and operated service centers providing easy access to chassis maintenance services. Leasing options range from chassis pool user agreements and managed fleets, to short and long term contracts with motor carriers, logistics providers, ocean carriers and beneficial cargo owners. Meanwhile, to facilitate the daily leasing and dispatching process, FlexiVan^® per diem rentals are supported by FlexiVan’s streamlined ChassisNow.com booking system. Professional, reliable and cost effective transportation solutions – Experience Delivered. For more information, visit www.FlexiVan.com

About American Intermodal Management

Headquartered in Scottsdale, Arizona, American Intermodal Management, LLC (AIM) was formed in 2016 in response to strong industry demand desiring alternatives for chassis provisioning, and asset management across the U.S. AIM has a fleet of more than 12,000 new chassis equipped with GPS. The AIM business model combines integrity, proactive-disciplined management processes, high quality assets, innovative technology application, and a passion for excellence to achieve maximum value creation. ​

For further information, contact:

Alanna Fenner
Director, Marketing & Communications, FlexiVan
AFenner@FlexiVan.com, Tel. # (908) 603-1605, www.FlexiVan.com

FOR IMMEDIATE RELEASE  

Scottsdale, AZ ‒ February 4, 2020

Announced by Ronald D. Widdows, who will assume the CEO position upon the merger American Intermodal Management (AIM) and FlexiVan, “we now move forward with the announcement of FlexiVan’s new senior leadership team…as a stronger combined enterprise, with a leadership team composed of leaders from each organization.”

Mr. Widdows, the co-founder and Executive Chairman of AIM, and formerly the President & CEO of the NOL Group and CEO of APL, is a well-known professional in container shipping, among other roles having Chaired the World Shipping Counsel for over a decade. Mr. Widdows held senior executive positions in the U.S., Asia, Europe and Canada during his 48 years in the industry.

Nathaniel Seeds will assume the role of Chief Operating Officer and will oversee the operations of the company and its continued application of innovative technology across FlexiVan’s nationwide network. Prior to this appointment, Seeds co-founded American Intermodal Management (AIM), and served as its CEO. Before AIM, he spent 24 years with APL, where he served as COO of a global business, focusing on operational excellence, disciplined cost management, process efficiency and technological innovation. He now will bring his unique skills as a proven operating executive and a vision of how to drive technology into a chassis leasing space in critical need of innovation. Than has a bachelor’s degree from the University of Washington, and a master’s degree from the University of Denver.

Gregory Moore will continue as FlexiVan’s Chief Commercial Officer after the merger with AIM. Since joining FlexiVan in 2015 he has built a strong commercial organization and developed deep relationships with FlexiVan’s customer portfolio. As CCO, Greg will be accountable for the direction of all commercial aspects of the company, working closely with Than to accelerate leveraging a new and exciting set of capabilities and a flow of new assets into the FlexiVan business. Greg is a seasoned industry veteran having successfully led large organizations in the U.S., Europe and Latin America over a 32-year career with AP Moller/Maersk. Greg is a graduate of Baylor University and the Columbia University Senior Executive Program.

Tom Crimmins will continue as FlexiVan’s Chief Financial Officer after the merger with AIM. A graduate of Manhattan College and a CPA, Tom joined FlexiVan in 2018 as Vice President and Chief Financial Officer. Prior to joining FlexiVan he was EVP, CFO, at B&G Foods, Inc. (NYSE: BGS), a packaged food producer and distributor of over 50 brands. He previously spent 16 years at defense electronics manufacturer and systems integrator, DRS Technologies, Inc., serving as EVP, CFO. Tom also spent seven years in the audit and assurance practice of PwC.

Vidyasagar Chikkila, AIM’s VP of IT, will assume the role of Chief Information Officer and will oversee FlexiVan’s information and systems technology portfolio. Sagar oversaw the design, development, and implementation of AIM’s innovative, cloud-based IT applications. Previously, Sagar concluded a 22-year career at APL as Chief Architect with global oversight for application architecture, operations and related enterprise systems, and global BI & analytics. As the CIO of FlexiVan, he will lead the IT platform integration and drive the continued development of new technology to enhance customer value through tools and insights. Sagar holds Master of Engineering in Artificial Intelligence and bachelor’s in Computer Science and Engineering.

Charles G. Wellins, formerly the President & Chief Operating Officer of FlexiVan will assume a new role; Chief Strategy Officer. Charlie joined FlexiVan in 2017 bringing 35 years of experience gained through an array of senior executive roles with AP Moller/Maersk, CEVA Logistics, and, more recently, Li and Fung. Charlie’s experience spans roles in Asia, and the U.S. He played a vital role in the FlexiVan/AIM merger transaction and will work with the senior team guiding the process of integrating the companies. As CSO, Charlie will cultivate new opportunities for FlexiVan both within the chassis sector and beyond, focusing on initiatives to build out our vision to create a very different player in the logistics and transportation equipment space. Charlie is a graduate of Penn State University, the London Business School – Senior Executive Program, and the Ohio State University Logistics/Distribution Management Program.

“Than, Greg, Tom, Sagar and Charlie bring a wealth of industry experience building businesses that focus on operational excellence, service reliability and innovation to the FlexiVan senior leadership team. Together with all our colleagues we begin a new and exciting journey to create a differentiated model in the chassis leasing space.”

About FlexiVan

FlexiVan^® has been a leader in intermodal chassis leasing services in North America since 1955. It manages over 125,000 units in over 300 locations across the country and has nine fully owned and operated service centers providing easy access to chassis maintenance services. Leasing options range from chassis pool user agreements and managed fleets, to short and long term contracts with motor carriers, logistics providers, ocean carriers and beneficial cargo owners. Meanwhile, to facilitate the daily leasing and dispatching process, FlexiVan^® per diem rentals are supported by FlexiVan’s streamlined ChassisNow.com booking system. Professional, reliable and cost effective transportation solutions – Experience Delivered. For more information, visit www.FlexiVan.com

About American Intermodal Management

Headquartered in Scottsdale, Arizona, American Intermodal Management, LLC (AIM) was formed in 2016 in response to strong industry demand desiring alternatives for chassis provisioning, and asset management across the U.S. AIM has a fleet of more than 12,000 new chassis equipped with GPS. The AIM business model combines integrity, proactive-disciplined management processes, high quality assets, innovative technology application, and a passion for excellence to achieve maximum value creation. ​

For further information, contact:

Alanna Fenner,
Director, Marketing & Communications, FlexiVan
AFenner@FlexiVan.com, Tel. # (908) 603-1605, www.FlexiVan.com

FOR IMMEDIATE RELEASE   

MIAMI, FL – 27 JANUARY 2020

 American Intermodal Management (AIM), a U.S.-based marine chassis lessor and a portfolio company of I Squared Capital, has signed an agreement to merge with FlexiVan Leasing, the third largest marine chassis provider in the U.S., owned by Castle & Cooke. I Squared Capital will assume a controlling interest in FlexiVan with Castle & Cooke maintaining a minority interest in the combined business. FlexiVan is one of the three leading companies in the sector with over 60 years of operating history, 300 employees, over 120,000 chassis and an expansive nationwide footprint that will open AIM’s technology-enabled products to new customers across the U.S.

“I Squared Capital is expanding its global presence across the transportation and logistics value chain with approximately $2.2 billion of equity capital committed across North America, Europe and Asia. We are now a leader in trailer and chassis leasing across Europe, Canada and the U.S. as well as the largest private owner of highways in India,” said Adil Rahmathulla, Chairman of the

AIM Board and Managing Partner of I Squared Capital. “This is our fifth acquisition in the transport and logistics sector in the last six months and a key milestone as we expand our presence in the U.S. market.”

Formed as a logistics platform by I Squared Capital in 2016, AIM has grown into a leading chassis lessor providing GPS-enabled services to retailers, logistics companies and shipping lines in the

U.S. intermodal supply chain. AIM’s innovative technology solutions complement the deep experience and relationships that FlexiVan has established over many years. The combination will allow AIM to deploy its innovative, technology-enabled model on a national scale while maintaining FlexiVan’s established offerings and levels of service.

Evercore served as the financial advisor and White & Case served as legal counsel to I Squared Capital. Citigroup Global Markets Inc. and MUFG Union Bank, N.A. are providing financing.

About I Squared Capital:

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecom, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Hong Kong, London, Miami, New Delhi, New York and Singapore.

About FlexiVan Leasing, Inc.

FlexiVan has been a leader in intermodal chassis leasing services in North America since mid-1960s. It manages over 120,000 units in over 100 active locations across the country and has nine owned and operated service centers providing easy access to chassis maintenance services. Leasing options range from chassis pool user agreements and managed fleets, to short- and long-term contracts with motor carriers, logistics providers, ocean carriers and beneficial cargo owners. Meanwhile, to facilitate the daily leasing and dispatching process, FlexiVan per diem rentals are supported by FlexiVan’s streamlined ChassisNow.com booking system. Professional, reliable and cost-effective transportation solutions – Experience Delivered. www.FlexiVan.com

About American Intermodal Management, LLC.

AIM is a chassis leasing platform that owns and leases marine chassis to customers that transport marine containers between ports, rail ramps, and distribution centers in the United States. AIM was formed in June 2016 in response to strong industry demand desiring alternatives for chassis provisioning, and asset management across the U.S. The AIM business model combines integrity, proactive-disciplined management processes, high quality assets, innovative technology application, and a passion for excellence to achieve maximum value creation. AIM has experienced significant growth since inception with a fleet of more than 12,000 new chassis equipped with GPS and led by industry veterans. www.AIMChassis.com

For further information, contact:

Alanna Fenner
Director, Marketing & Communications, FlexiVan
AFenner@FlexiVan.com, Tel. # (908) 603-1605, www.FlexiVan.com

FOR IMMEDIATE RELEASE  

 Miami, FL ‒ January 27, 2020

Announced today, American Intermodal Management (AIM), a U.S.-based marine chassis lessor and a portfolio company of I Squared Capital, has signed an agreement to merge with FlexiVan Leasing, the third largest marine chassis provider in the U.S., owned by Castle & Cooke. I Squared Capital will assume a controlling interest in FlexiVan with Castle & Cooke maintaining a minority interest in the combined business. FlexiVan, one of the leading marine chassis leasing companies in North America and to combine its business with AIM.

Formed as a logistics platform by I Squared Capital in 2016, AIM has grown into a leading chassis lessor providing GPS-enabled services to retailers, logistics companies and shipping lines in the U.S. intermodal supply chain. AIM’s innovative technology solutions complement the deep experience and relationships that FlexiVan has established over many years.

“This transaction combines FlexiVan’s 65 years of operating history, nationwide presence and deep customer relationships with AIM’s fleet of new chassis, innovative technology and data analytics to offer our customers more flexibility and greater supply chain efficiency,” said Ronald D. Widdows, Executive Chairman of AIM.

Charles G. Wellins, FlexiVan President and COO added…” The combination of AIM and FlexiVan will provide strong financial support to continue the upgrade of FlexiVan’s fleet, support significant investment in new assets, and fund ongoing development of innovative IT systems, all of which will allow us to deliver an industry leading customer experience.”

Mr. Widdows will serve as the CEO of combined company which will do business as FlexiVan. Additional executive appointments will be announced shortly.

About FlexiVan

 FlexiVan^® has been a leader in intermodal chassis leasing services in North America since 1955. It manages over 125,000 units in over 300 locations across the country and has nine fully owned and operated service centers providing easy access to chassis maintenance services. Leasing options range from chassis pool user agreements and managed fleets, to short and long term contracts with motor carriers, logistics providers, ocean carriers and beneficial cargo owners. Meanwhile, to facilitate the daily leasing and dispatching process, FlexiVan^® per diem rentals are supported by FlexiVan’s streamlined ChassisNow.com booking system. Professional, reliable and cost effective transportation solutions – Experience Delivered. For more information, visit www.FlexiVan.com

About American Intermodal Management

 Headquartered in Scottsdale, Arizona, American Intermodal Management, LLC (AIM) was formed in 2016 in response to strong industry demand desiring alternatives for chassis provisioning, and asset management across the U.S. AIM has a fleet of more than 12,000 new chassis equipped with GPS. The AIM business model combines integrity, proactive-disciplined management processes, high quality assets, innovative technology application, and a passion for excellence to achieve maximum value creation. ​

For further information, contact:

Alanna Fenner
Director, Marketing & Communications, FlexiVan
AFenner@FlexiVan.com, Tel. # (908) 603-1605, www.FlexiVan.com