TIP Trailer Services, a portfolio company of I Squared Capital that leases, rents, maintains and repairs trailers, has agreed to acquire the trailer-leasing and maintenance business of Ryder.
Ryder provides commercial vehicle-rental, contract-hire, maintenance and dedicated-delivery solutions in the United Kingdom. TIP said it plans to integrate Ryder’s assets and contracts from its mobile maintenance-services division into TIP’s existing business in the United Kingdom, expanding its fleet with about 3,550 additional trailers and increasing the number of U.K. workshops to 18. In the coming months, both companies will work on fleet integration to manage a smooth transition with customers and suppliers.
“Acquiring the trailer leasing and maintenance business of Ryder Ltd is another key milestone in our growth path,” said Bob Fast, president and CEO of TIP. “It increases our U.K. and Ireland footprint, allowing us to improve service offering and infrastructure i
