I Squared Capital’s portfolio companies Transportation Equipment Network (TEN) and TIP Canada are combining their North American operations. The acquisition will see TEN acquire TIP Canada, the Canadian subsidiary of Europe-based TIP Group, a leading player in the Canadian trailer leasing and rental market with a fleet of 28,000 units.
TIP Canada also operates 12 workshop locations across Canada and 36 mobile service units, providing coast-to-coast maintenance services to its own customers as well as third parties.
With the acquisition of TIP Canada, TEN will be North America’s second-largest full-service trailer lessor, with a combined fleet of more than 83,000 trailers with locations across most major logistics hubs. The combined group will provide services such as integrated leasing, maintenance, advanced technological solutions, consultation services and innovative fleet electrification offerings across numerous industry verticals.
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