EquipmentShare's OWN securitized fleet financing

This financing stack turns fleet from a growth bottleneck into a funding engine. Instead of raising common equity every time it wants more excavators, lifts, or loaders, EquipmentShare moves equipment into special purpose vehicles, leases it back, and funds those vehicles with structured equity, ABS, and large revolving credit lines. That keeps control of the fleet and customer relationship while matching long lived assets with long dated capital.

• The OWN program is effectively a managed fleet partnership. EquipmentShare sources equipment, places it on rent through its branches and software, then shares economics with outside capital that owns the assets. By March 2025, OWN backed more than $3.6B of fleet OEC, and by September 2025 total fleet OEC under management reached $8.05B.
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• The sale leaseback and ABS deals matter because they recycle capital after equipment is already working in the field. The January 2025 transaction combined $797.5M of lease financing with $197.5M of structured equity from MidOcean. The December 2025 ABS added another $454M from institutional debt buyers.
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• Compared with incumbents like United Rentals, this gives EquipmentShare a different way to expand. Traditional rental players mostly grow from balance sheet cash flow and corporate debt. EquipmentShare layers marketplace style third party supply and securitized financing on top, which is better suited to fast branch growth and a software attached rental model.
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The next step is a tighter loop between operating data and capital markets. As more fleet runs through OWN, securitization buyers can underwrite actual utilization, rental rates, and resale behavior branch by branch. That should keep lowering EquipmentShare's cost of fleet capital and let it open locations faster than rental peers that rely mainly on traditional corporate leverage.