Miami, April 15, 2024 /CNW/ – iSquared Capital, a leading global independent infrastructure investment manager, today announced a deal to combine the North American operations of two of its portfolio companies.
Recently rebranded Transportation Equipment Network, “TEN” (fka Star Leasing), will acquire TIP Canada, the Canadian subsidiary of EuropeTIP SET EXISTING.
advice Canada is a Canadian subsidiary of TIP Group, a leading player in the Canadian trailer rental and leasing market with a fleet of approximately 28,000 units. The company has over 480 employees and over 1,500 clients with diverse exposure to the downstream sector. advice Canada It also operates 12 workshop sites across it Canada and 36 mobile service units providing coast-to-coast maintenance services to its customers as well as third parties.
With the acquisition of TIP Canda, TEN will also become one north america The second largest full-service trailer rental company with a combined fleet of over 83,000 trailers in locations across most major logistics hubs.
With decades of knowledge and experience, impressive customer performance records and a keen perspective on the future of the industry, the combined group will provide services including integrated leasing and maintenance, advanced technology solutions, consulting services and innovative fleet electrification offerings across numerous industries. vertical.
I Squared started building this trailer rental platform in March 2021 With the acquisition of Star Leasing and subsequent acquisition of Cooling Concepts in May 2022Northeast Trailer Services (NETS) in July 2023 And commercial trailer rentals (CTL) in September 2023. TEN has now more than quadrupled in size thanks to strong organic growth and this series of additional acquisitions.
Gautam Bhandari“This transaction is a win-win for our investors and our global transportation franchise,” said I Squared’s Chief Investment Officer and Managing Partner. “By leveraging I Squared’s platform-building expertise, this combination simplifies TEN and TIP’s operational footprint, improves purchasing power and brings clarity to objectives.” Strategy Trailers play a critical role in complex supply chain networks by meeting customers’ needs for operational and contractual flexibility, which are leaders in their respective markets and together represent a very attractive opportunity for infrastructure investors.
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Scott Nelson“While continuing to serve an individual customer base, we see a great opportunity to serve Canadian customers doing business in the United States, as well as U.S. customers doing business in the United States,” said the TEN president. CanadaProviding them with value-added solutions to help them manage their business more efficiently. Our expanded scope will allow for greater access to equipment and expanded relationships with our supplier partners.”
Fast bobTIP Group CEO said: “For TIP, this means a renewed focus on… EuropeOur local market. We highly anticipate the prospects of diversifying and electrifying our fleet, along with expanding our maintenance network to continue serving our valued customers and aligning with our vision to be a leading equipment services provider.
I Squared acquired TIP Group in August 2018, and tripled its EBITDA in that time through a combination of organic growth and add-on acquisitions. Headquartered in AmsterdamTIP operates in 17 European countries in addition Canada. This transaction will simplify TIP Group’s portfolio, allowing the company to focus on its core European operations and freeing up capital to pursue further growth opportunities in the local market.
The deal is expected to close in the second quarter of 2024.
About i squared capital
I Squared is a leading global independent infrastructure investor with more than… 38 billion dollars In assets under management. We are known for developing investment platforms in infrastructure projects where we start small and grow big. We use global insights and deep local intelligence to solve complex problems, foster smarter businesses, serve local communities, and invest in a more sustainable future to provide essential services to millions of people around the world. We are a team of over 260 people, headquartered in Miami With offices in London, Munich, New DelhiSao Paulo, Singapore, Sydney And Taipei. We operate a diverse group of 82 companies in 71 countries and employ more than 66,000 employees across a variety of sectors including utilities, energy, digital infrastructure, transport, environmental infrastructure and social infrastructure. You can learn more by visiting: www.isquaredcapital.com.
I square the transfer
I Squared has extensive experience investing in transportation and equipment rental globally, with a transportation and logistics portfolio that includes more than (268,000) trailers and chassis and (147) workshops with more than (3,900) employees in (22) countries.
About TEN (Transport Equipment Network)
TEN (Transport Equipment Network) is the largest full-service trailer rental company in the world United StateWith approximately 55,000 trailers and locations across the United States, TEN provides full service support beyond leasing including maintenance, advanced technology solutions, consulting services and other innovative offerings across many industry sectors. These combined entities, formerly known as Star Leasing Company, CTL, Cooling Concepts and NETS Leasing, announced their decision earlier this year to collectively rebrand as TEN. They will begin operating as TEN later this year. For more information, visit https://www.starleasing.com/.
About TIP Group
For over 55 years, TIP Group has been a leading provider of full service equipment in Europe And CanadaWith more than 140 service locations spanning 18 countries. We specialize in truck and trailer solutions, offering leasing, leasing, maintenance, repair, digital solutions and used equipment sales. With a fleet of over 100,000 assets, we prioritize customer satisfaction and sustainable supply chains through trusted partnerships with major carriers, shaping a more environmentally conscious and efficient future.
For more information, please visit: https://www.tip-group.com
Source Tip Group Canada
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