TIP Group, a portfolio company of I Squared Capital, has acquired the trailer business of EURO-Leasing in Denmark. EURO-Leasing has been offering its customers tailor-made rental and service solutions for trucks and trailers since 1997. The company has its headquarters in Germany and is part of Volkswagen Financial Services.
TIP will acquire and integrate more than 1,650 trailers into the business in Denmark, meaning that they will expand the number of vehicles in the country by 25%. With this acquisition, TIP extends its fleet with young curtainsiders and reefers from established manufacturers. TIP and EURO-Leasing are working closely together to make the transition as seamless and effortless as possible.
Announcing details of this latest acquisition, Bob Fast, TIP President and CEO, said
“Acquiring the trailer business of EURO-Leasing is another key milestone in our expansion in Europe. It increases our footprint in the Nordics, allowing us to increase the supply and availability of trailers in Denmark and expand and diversify our customer base.”
Jens Ole Olesen, Managing Director, EURO-Leasing A/S adds:
“With TIP we have found a great partner to guarantee a successful future for our trailer business in Denmark. Our customers, suppliers and partners can rest assured that we are working closely together to ensure a smooth transition with no impact to services.”
“We are delighted to increase our supply of trailers in the Danish market.” says Christian Petersen, TIP Vice President Nordics.
“At a time when we are operating at almost full capacity, the addition of more than 1,650 trailers will mean more choice for current and future customers.”