Sasser Completes Strategic Sale of Xcēd to Fortbrand   

Sasser, Inc. announced July 16, 2025 that it has completed the sale of its aviation ground support equipment (“GSE”) business, Xcēd Aviation Services LLC (“Xcēd”), to Fortbrand Services LLC, a portfolio company of Basalt Infrastructure Partners LLP.   

Xcēd, a leading provider of GSE leasing and fleet management solutions to the aviation industry, has grown significantly since Sasser established the company in 2014. The company’s innovative approach and customer-first mindset have positioned it as a trusted partner to ground handling providers, airports, and airlines across North America.   

“We are pleased to announce the successful completion of this divestiture, a strategic move that aligns with Sasser’s long-term vision. In just over a decade, Sasser built, from the ground up, an innovative, customer-centric GSE leasing business and established a brand that is well-known across the industry. We are proud of the team and of the journey we’ve had with Xcēd, and we are excited to watch Fortbrand and Xcēd embark on their next exciting chapter,” said Jeff Walsh, CEO of Sasser. “This transaction positions Sasser for future growth and innovation as we continue to establish strong positions in key markets and deliver meaningful value for our customers and stakeholders.”   

“We are thrilled to welcome Xcēd’s customers and employees to the Fortbrand family,” said Jared Verano, President and CEO of Fortbrand. “This transaction will support our long-term plan to enhance our asset base, deliver great service to our customers, and accelerate growth.” 

Wells Fargo served as the exclusive financial advisor and Mayer Brown LLP served as legal counsel to Sasser.  Foley & Lardner LLP served as legal counsel to Fortbrand.

About Sasser 

Sasser is a premiere transportation asset services and management company with roots dating to 1928. Sasser’s subsidiary businesses are leaders in providing commercial- and industrial-focused rail, automotive, containerized shipping, and other transportation equipment solutions including asset leasing, fleet administration management, asset repair and maintenance, and innovative technology services. 

About Fortbrand

Fortbrand is an essential service, transportation leasing business focused on GSE and AME. Founded in 1983, Fortbrand holds equipment on its balance sheet for rent or lease that is vital for aviation infrastructure and operations across the United States, Canada, and United Kingdom. Fortbrand is headquartered in Plainview, NY. For more information about Fortbrand, please visit www.fortbrand.com.

About Basalt

Basalt is the investment advisor to infrastructure equity investment funds focusing on mid-market investments in utilities, power, transportation, and digital infrastructure in North America and Europe. Other investments by the Basalt funds in North America include Helios Power, Black Bear Transmission, Habitat Solar, Xpress Natural Gas, Skyway Towers, Fatbeam, and OnSite Partners. For more information, please visit www.basaltinfra.com.