US-based private equity company, I Squared Capital, has agreed to acquire a 100 per cent interest in commercial vehicle leasing business, TIP Trailer Services.
Headquartered in Amsterdam and operating in 17 countries, TIP is one of the leading companies in its field in markets across Europe including Germany, the UK, Italy, France, Spain and the Benelux countries, as well as in Canada. It has a fleet of over 66,000 trailers and 86 trailer service centres serving approximately 7,700 customers, including numerous global logistics operators and retailers.
“Our investment in TIP is the result of a detailed review of global transportation opportunities that provide essential links while benefiting from macro-economic tailwinds,” said I Squared Capital Partner, Adil Rahmathulla.
“With strong market positions across Europe and a sizeable business in North America, TIP’s global reach is an excellent fit for I Squared Capital. We look forward to working with TIP’s seasoned executive management team and roster of world-class logistics and retail customers to continually deliver essential services and position the business to drive growth across Europe, North America and beyond,” he said.
“This is the start of an exciting new chapter for TIP and we believe that as an infrastructure investor that knows our sector well, I Squared Capital will be a strong long-term partner for us,” said TIP CEO, Bob Fast.
“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,” he said.
I Squared Capital is a global infrastructure investor with over $12 billion of assets under management and focusing on energy, utilities, telecom and transport. Select portfolio companies include the Viridian Group, a leading integrated Irish utility with conventional generation, renewable generation, and supply; Grupo T-Solar, one of the largest solar platforms in Spain with 392 megawatts of photovoltaic and concentrated solar power generation capacity; and American Intermodal Management, a transportation platform leasing new marine chassis with GPS technology to retailers, logistics companies and shipping lines in the US intermodal supply chain.