TEN (Transportation Equipment Network) Appoints Nathan Smith as Interim Chief Executive Officer

DUBLIN, Ohio – 18 August 2025 – TEN (Transportation Equipment Network), a leading trailer leasing company owned by I Squared Capital, a leading global infrastructure investor, today announced that Nathan Smith, TEN’s Chief Operating Officer, has been appointed interim Chief Executive Officer, effective immediately.

Nathan Smith joined TEN in December 2024, bringing decades of leadership experience in the transportation and logistics industry. Prior to TEN, he spent much of his career at JB Hunt, where he held senior leadership roles including Senior Vice President of Equipment and Properties and Senior Vice President of Intermodal Operations.

In recent months, TEN has continued to strengthen its market leadership with the launch of TEN Ready, a disaster recovery initiative designed to deliver trailers in times of crisis; the upcoming introduction of a industry leading, patent pending customer solution at TEN Cool, and its geographic expansion into the Houston and Pacific Northwest markets through collaboration programs with industry recognized ‘agent’ partners. These strategic initiatives underscore TEN’s commitment to innovation, customer service, and long-term growth.

Tom Donohue, Chairman, TEN, said: “Nathan is a highly respected leader with a deep understanding of our business and industry. His operational expertise and steady leadership make him the right person to guide TEN through this transition and ensure we continue on our growth trajectory. The Board would like to thank Scott Nelson for his service and leadership, and we are grateful for his cooperation during this transition.”

Nathan Smith, Interim CEO, TEN, said: “Our top priority is serving our customers with the reliability and excellence they expect from TEN. I am deeply committed to ensuring that our customers and our people remain well-supported as we continue to strengthen operations and empower our teams. It is an honor to step into the role of interim CEO at such an important time for TEN, and I look forward to building on the company’s strong foundation and position as an industry leader.”

About TEN (Transportation Equipment Network)

Headquartered in Dublin, OH, TEN (Transportation Equipment Network) is the largest full-service trailer lessor in North America. With approximately 86,000 trailers, 1,000 employees, 249 service shop bays, 130 mobile service trucks, 300 mechanics, 100 road technicians, and nearly 50 locations across the United States and Canada, TEN is equipped to seamlessly serve customers across North America. TEN provides full-service leasing as well as maintenance, advanced technological solutions, consultation services, and other innovative offerings across numerous industry verticals. To learn more, visit https://tenleasing.com.

About I Squared Capital

I Squared Capital is a leading global infrastructure investor managing $45 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.

Media Contacts:

TEN
Melanie March
Marketing Director, TEN
[email protected]
(614) 809-1200

I Squared Capital
Dominic McMullan / Shelly Hagan
[email protected]