TIP Trailer gets a new owner
Infrastructure investment specialist I Squared Capital has acquired a 100% interest in leasing company TIP Trailer Services.
The private equity firm purchased the business from Chinese company HNA Group (International), which bought the firm in 2013 from GE Capital. TIP Trailer Services, which is 50 years old this year, sources new trailers for customers, provides financing, compliance management, R&M, and buys and sells used trailers.
The company operates in 17 countries across Europe and in Canada, has a fleet of more than 66,000 trailers, 86 trailer service centres and 7,700 customers. It currently manages more than 25,000 trailers across the UK and Ireland.
Bob Fast, CEO of TIP, said: “Our business is well positioned for growth in the transportation equipment leasing and maintenance services sector in Europe and North America, and we are glad to have a partner with the capital to invest in our fleet and enable us to deliver even better service to our valued customers.”
Adil Rahmathulla, I Squared Capital partner, added: “With strong market positions across Europe and a sizeable business in North America, TIP’s global reach is a great ﬁt for I Squared Capital.”
- Are you in the market for a used trailer? We have hundreds available from dealerships across the country. Visit our dedicated stock pages to find the right one for you.