AMSTERDAM, The Netherlands — Equipment service provider TIP Trailer Services has signed an agreement to acquire Trailer Wizards, a leading supplier of trailer rental and leasing services in Canada, the company announced Tuesday.
Financial details were not revealed.
A portfolio company of I Squared Capital, TIP first expanded from Europe into Canada in 2016 with the purchase of Train Trailer.
The acquisition of Trailer Wizards will add 21 locations, over 400 employees and a diversified fleet of over 23,000 units in Canada.
“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,” said Adil Rahmathulla, chairman of the TIP Trailer Services board and managing partner of I Squared Capital.
“Acquiring Trailer Wizards will make TIP one of the leading trailer service providers in Canada, further diversify our geographic footprint, expand our service offering and broaden our customer base.”
Following the transaction, TIP’s Canadian division will have a combined fleet of over 33,000 trailers, reefers, chassis and flatbed/drop-deck configurations.
The agreement is subject to customary closing conditions and regulatory approvals.