I Squared Capital will acquire Rentco, a transport equipment leasing company in Australia, and invest an additional A$300 million ($198 million) to promote Rentco’s growth across the country and pursue new trailer leasing opportunities.
With depots in all mainland states of Australia, Rentco has a wide reach and established relationships with Tier-1 transport and logistics providers. The company also has a diverse customer base across groceries, durable goods, agriculture and mining that mitigates sector-specific cyclicality while benefiting from growth in other sectors such as ecommerce.
Rentco is poised to benefit from closer relationships with I Squared’s global leasing platforms, including FlexiVan, TIP Trailer Services and Star Leasing.
Rentco complements I Squared’s other portfolio companies, which include Clean Energy Fuels Australia, a West Australia-based industrial decarbonization platform supporting off-grid miners and remote communities in redu