HNA Group Company of China and Bravia Capital of Hong Kong announced the completion of HNA’s acquisition of TIP Trailer Services Group (TIP) a wholly owned subsidiary of GE Capital.

TIP provides trailer leasing, rental, maintenance and other value-added solutions to transportation and logistics customers across Europe. Headquartered in Amsterdam, TIP supplies its customers with products and services from over 100 locations. TIP owns and manages approximately 48,000 units and boasts one of the largest and most diversified fleets in Europe.

“We are pleased to be joining the HNA Group, who have a demonstrated history of success growing transportation finance businesses. We intend to be the partner of choice in our market by continuing to offer the high standards of care, service and reliability on which our customers have come to rely,” said Bob Fast, CEO of TIP.

“The acquisition of TIP into our portfolio is a good strategic fit, complementing our existing investments in world-wide aircraft leasing, marine container leasing and ship leasing. We are very pleased to be acquiring an excellent GE management team who we fully support. We continue to strengthen our transportation finance and services capabilities internationally, and we intend to grow TIP Trailer Services during the coming years,” said Tan Xiangdong, vice-chairman and president of HNA.

“The TIP acquisition underscores our successful track record of partnering with HNA, acquiring and integrating top-tier, asset-heavy businesses servicing the transportation and logistics sectors,” said Bharat Bhisé, CEO of Bravia Capital. “We have now been partners on 7 investments with HNA totaling over US$7.2 billion in enterprise value over the past three years.