I Squared Capital, an independent global infrastructure investment manager, signed an agreement through its ISQ Global Infrastructure Fund II to acquire a 100% interest in TIP Trailer Services, a pan-European and Canadian trailer leasing and services company, from HNA Group.
Headquartered in Amsterdam and operating in 17 countries, TIP participates 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 more than 66,000 trailers and 86 trailer service centers 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 Adil Rahmathulla, partner of I Squared Capital. “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.”
“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 Bob Fast, CEO of TIP. “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.”
I Squared Capital is a global infrastructure investor with more than $12 billion of assets under management. It focuses on energy, utilities, telecom and transport with select portfolio companies such as Viridian Group, Grupo T-Solar and American Intermodal Management.
Linklaters is legal advisor to I Squared Capital. EH Global Capital is the financial advisor to HNA, and CMS is HNA’s legal advisor.
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