TIP Trailer Services has agreed to acquire Nextrailer Rent (NEXT-rent).
NEXT-rent is a business from Guillén Group, a Spanish equipment service provider and trailer manufacturer.
The Wielton Group will take over the trailer manufacturing business of Guillén Group.
TIP will integrate NEXT-rent assets, around 900 trailers, in its existing Spanish business. This puts TIP in a strong position for long-term growth as it further strengthens its position in the Spanish market. The completion of the transaction is expected to take place in January 2022.
“This acquisition is another key milestone in the growth path of TIP,” said TIP President and CEO, Bob Fast.
“It will support our asset growth strategy, whilst complementing our existing offering.
“In addition to being a well-established business within the trailer manufacturing sector and rental sector, the acquisition will enable TIP and the Wielton Group to work with new customers, support them with additional trailers and provide the best flexible commercial trailer fleet solutions,” he said.
“With TIP and Wielton we found great partners to guarantee a successful future of our business,” said Jose Luis Guillén, current owner of the Guillén company.
“With these two partners we are able to bring our operations to the next level and profit from synergies – in the production of trailers with Wielton and for the rental and lease business together with TIP,” he said.
“Through this acquisition, NEXT-rent customers will be able to access the range of services offered by TIP across Europe,” said Gonzalo Elosegui, Director of TIP in Spain.
“Over the next months, both companies will work on the fleet integration to manage a smooth transition with customers and suppliers.
“Also we are glad to welcome the staff of NEXT-rent in the TIP family and are convinced that they will play a pivotal role the successful integration of the company in TIP.”
NEXT-rent is based in Valencia close to the largest harbour in the country and provides customers across Spain with leasing and rental services. TIP’s Spanish division will have a combined fleet of over 2200 trailers, curtainsiders, vans, reefers and chassis configurations.
In other news, TIP announced a €200M financial investment.