3i Infrastructure has agreed to acquire the stake in TCR owned by funds managed by DWS.
This will result in 3i Infrastructure increasing its holding from 48 percent to 96 percent of the equity in TCR, alongside management. This further investment is expected to be £334 million (€388 million/$403 million). Completion is subject to certain third-party consents and is expected to take place in the final quarter of 2022.
TCR is a global provider of ground-support equipment (GSE) rental solutions and services, supporting air industry customers in their ground handling processes. The business is present in more than 160 airports (compared with 100 at acquisition), with more than 30,000 GSE assets in its rental fleet (compared with 23,000 at acquisition).
Since acquiring TCR in 2016, 3i Infrastructure and DWS have supported management in growing the business and its rental asset base, alongside an increased focus on ESG and sustainability, including pooling solution
