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Tip Trailer Services, a portfolio company of I Squared Capital, announced it signed an agreement to acquire Trailer Wizards, a supplier of trailer rental and leasing services in Canada. Terms were not disclosed.
The acquisition of Trailer Wizards will add 21 locations, more than 400 employees and a diversified fleet of more than 23,000 units in Canada. Tip expanded from Europe into Canada in 2016 with the purchase of Train Trailer, according to the Amsterdam-based company.
“This is our second recent acquisition and a key step in our growth plan to expand the business to become a leading global provider of trailer services,” Adil Rahmathulla, managing partner of I Squared Capital, said in a release.
After the transaction, Tip’s Canadian division will have a combined fleet of more than 33,000 trailers, refrigerated chassis and flatbed/drop-deck configurations. The company will employ a staff of more than 500, including about 300 mechanics, throughout almost 30 locations from Prince Edward Island to British Columbia.
Tip services its trailer leasing, rental, maintenance and repair customers from 102 locations in 17 European countries and Canada. — Transport Topics