US-based private equity company, I Squared Capital, has finalised the acquisition of TIP Trailer Services.
All regulatory approvals required have been obtained, closing conditions have been met and the sale has been successfully completed as of 1 August 2018.
“TIP’s Senior Leadership team and I are very excited to be undertaking this next phase in our company’s future and we remain convinced of the benefits that it will bring to our customers, our partners and our new shareholder,” said TIP Trailer Services CEO, Bob Fast.
“Our TIP 2020 strategy remains focused on our customers’ needs and we continue to build on the key pillars which support our success.
“Our excellent market position across Europe gives us a foundation upon which to expand our footprint globally, particularly in North America.
“We also continue to expand our range of assets to accommodate the needs of our customers supported by the highest service standards delivered by our extensive network and customer platform.
“I would like to thank all TIP staff in every function and every region for driving the success we have had over the past years and will give us the confidence to be successful in the future,” he said.