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Custom Truck One Source, Inc. (CTOS) is a leading provider of specialty equipment, parts, tools, accessories, and services in North America, catering to markets such as electric utility transmission and distribution, telecommunications, and rail. The company operates a comprehensive "one-stop-shop" business model, offering a wide range of products and services to its customers. CTOS sells and rents specialty equipment, including aerial devices, boom trucks, cranes, and more, while also providing aftermarket parts and services to support its offerings.
- Truck and Equipment Sales (TES) - Offers a broad variety of new and used equipment, often highly customized to meet specific customer needs, leveraging integrated production capabilities and extensive market knowledge.
- Equipment Rental Solutions (ERS) - Provides rental services for a large fleet of specialty equipment, including aerial devices, boom trucks, cranes, and more, managed nationally to efficiently meet regional demand shifts.
- Aftermarket Parts and Services (APS) - Supplies aftermarket parts and services related to specialty equipment, including repair, maintenance, and customization services.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christopher J. Eperjesy Executive | Chief Financial Officer (CFO) | None | Joined CTOS in August 2022. Previously CFO at Clarios International, Cooper Tire, and Arctic Cat. Brings decades of financial leadership experience. | |
Joseph Ross Executive | President — Sales | None | Co-founded Custom Truck & Equipment, LLC in 1996. Became President — Sales in 2021 after the acquisition of Custom Truck LP by CTOS. | |
Paul M. Jolas Executive | EVP, General Counsel, and Secretary | None | Appointed in July 2023. Previously General Counsel at U.S. Concrete and held senior legal roles at multiple companies. | |
R. Todd Barrett Executive | Chief Accounting Officer (CAO) | None | Joined CTOS in 2019. Served as Interim CFO in 2022. Plays a key role in financial reporting and compliance. | |
Ryan McMonagle Executive | Chief Executive Officer (CEO) | None | Joined CTOS in 2015 as CFO; promoted to COO, President, and then CEO in March 2023. Played a key role in the integration of Custom Truck LP after its acquisition by Nesco Holdings II, Inc.. | View Report → |
Thomas Rich Executive | President — Rentals | None | Joined Custom Truck & Equipment, LLC in 2006. Promoted to President — Rentals in 2023 after serving as EVP — Rentals. | |
David Glatt Board | Director | Managing Director at Platinum Equity | Joined CTOS Board in 2021. Oversees multiple Platinum Equity portfolio companies. | |
Georgia Nelson Board | Director | Director at Cummins Inc., Ball Corporation, and Sims Metal Management Limited | Joined CTOS Board in 2021. Retired Vice Admiral in the U.S. Navy with expertise in logistics and supply chain management. | |
Mark D. Ein Board | Director | Founder/CEO of Capitol Investment Corp and Venturehouse Group; Board Member at Soho House | Joined CTOS Board in 2019. Experienced investor and entrepreneur with leadership roles in multiple companies. | |
Marshall Heinberg Board | Chairman of the Board | Managing Director of MAH Associates; Board Member at ContextLogic Inc. and Union Carbide Corp. | Joined CTOS Board in 2021. Brings extensive investment banking and corporate governance experience. | |
Mary Jackson Board | Director | Board Member at Victory Capital Holdings and other organizations | Appointed to CTOS Board in April 2022. Retired U.S. Navy Vice Admiral with extensive leadership experience. | |
Paul Bader Board | Director | Adjunct Professor at USC; Board Member at Interior Logic Group | Joined CTOS Board in 2021. Chair of the Audit Committee. Extensive accounting and financial expertise. |
- Given the pressure on your TES segment sales in Q4 and a significantly lower backlog compared to last year, how do you plan to achieve double-digit adjusted EBITDA growth in 2025?
- Your ERS segment has faced challenges this year, and your guidance implies substantial quarter-over-quarter growth in Q4; how much of this is underpinned by the growth in OEC on rent you’ve already seen, and is this outlook achievable?
- With noted pricing pressures impacting both your rental and TES segments, how are you addressing margin compression to maintain profitability?
- As your TES backlog normalizes to historical levels, are you concerned about sustaining revenue growth, and what strategies are you implementing to drive new orders?
- In light of the industry-wide surge in Class 8 vocational truck orders and potential emissions regulations prompting pre-buy activity, how is Custom Truck preparing for 2025, and could supply constraints impact your operations?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
A&D Maintenance and Repair | 2024 | Custom Truck One Source, Inc. acquired A&D Maintenance and Repair in 2024 to expand its service capacity in the greater New York City metro area, part of a broader strategy to grow in underrepresented markets and increase its total location count from 35 to 40, with full operations expected later in the year. |
SOS Fleet Services | 2024 | CTOS acquired SOS Fleet Services in Alexandria, Louisiana after the first quarter of 2024 to strengthen its geographic footprint in the Gulf Coast region and enhance service capacity in underserved markets. |
HiRail Leasing Group | 2022 | CTOS completed the HiRail Leasing Group acquisition on January 14, 2022 for approximately $51.6 million (including $5.6 million in adjustments), strategically expanding its presence in the Canadian rail market by adding new locations and significant rental capabilities, with subsequent revenue and asset synergies. |
Recent developments and announcements about CTOS.
Earnings
New Earnings (Q4 2024)
·Mar 7, 2025, 12:42 AMView full earnings summary →CTOS targets utilization in the low-80% range, fueled by 35% net order growth in Q4. Despite a 35–50% backlog drop, management projects high single- to low double-digit TES revenue gains and steady rental margins in the low-mid 70%.