TIP Trailer Services, a provider of trailer leasing, rental, maintenance and repair in Europe and Canada, signed an agreement with Ryder to acquire the trailer leasing and maintenance business of Ryder Ltd in the UK. TIP will integrate the Ryder assets and contracts into its existing business, increasing its fleet with approximately 3,550 additional trailers and expanding its workshops in the UK to 18.

TIP Trailer Services is a portfolio company of I Squared Capital through its ISQ Global Infrastructure Fund II.

“This is an example of how I Squared Capital builds its platform companies through strategic acquisitions of quality assets. Being a pan-European player, TIP is well positioned to capture the consolidation opportunities in a fragmented trailer leasing market and achieve operational synergies through economies of scale,” Mohamed El Gazzar, partner of I Squared Capital, said. “Since our acquisition, TIP has grown its fleet by more than 70% and added 31 workshops through organic and inorganic growth.”

“This transaction is a great milestone for TIP on its growth path. It expands our footprint in the UK and Ireland, allowing us to improve service offerings and infrastructure in areas where we have gaps today,” Enrico Del Prete, fund partner of I Squared Capital, said. “We continue to seek opportunities to grow the platform, including high-end specialized assets, while maintaining our established offerings and levels of service.”