TEN completes lease agreement with Shabad Transport for 92-trailer fleet

Transportation Equipment Network (TEN) has completed an enterprise lease agreement with Shabad Transport Inc. involving a fleet of 92 dry van trailers, in a deal aimed at improving the carrier’s financial flexibility amid ongoing market volatility.

Structured as a sale-leaseback arrangement, the agreement allows Shabad Transport to convert owned fleet assets into working capital while continuing to operate the equipment under a long-term lease. The company said the transaction will strengthen its balance sheet, reduce reliance on high-interest operating lines and provide a path to phase out older equipment over time without disrupting operations.

The deal extends a partnership between the two companies that began in 2014 and supports Shabad Transport’s plans for growth in Canadian and cross-border freight services.

“In this environment, access to capital and flexibility matter more than ever, and we worked closely with the Shabad Transport team to build a solution that puts capital back in their hands and positions them for the road ahead,” said Hooman Yazhari, CEO of TEN. “This agreement is a strong example of how we work with customers to align equipment strategy with their broader business goals and help them navigate uncertainty with confidence.”

Shabad Transport, which has more than 30 years of experience serving the automotive, manufacturing and steel sectors, said the agreement will allow it to redeploy capital into other areas of its business.

“TEN understands where we want to take our business and worked with us to accelerate that plan,” said Amardip Randev, president of Shabad Transport Inc. “We now have the flexibility to redeploy capital into areas that set us up for our next phase of growth, such as developing new yards, modernizing our shop and warehouse facilities, all the while keeping our fleet running for our customers without a single day of disruption.”

TEN said the agreement is its second major enterprise lease deal of 2026, following a $50-million agreement with USA Truck announced in January.