Mar 1, 2005 12:00 PM

XTRA Lease has purchased the trailer rental business formerly owned by CitiCapital's Transportation Financial Service Group from GE Commercial Finance for an undisclosed amount.

“This acquisition strengthens our ability to respond to customers' requirements for trailers during a period of tight capacity and contributes to our plans to grow several product lines,” said Bill Franz, XTRA Lease president and chief executive officer.

St Louis MO-based XTRA Lease will equip the newly acquired over-the-road trailers with FleetView trailer tracking devices.

XTRA Lease, which leases trailers and other equipment, is a division of Omaha NE-based Berkshire Hathaway.