The Dutch equipment service provider TIP Trailer Services has signed a deal to acquire the trailer leasing and maintenance business of Ryder, a provider of commercial vehicle rental, contract hire, maintenance and delivery solutions in the United Kingdom (UK).
By the completion of the transaction which is expected to take place in June 2022, TIP will integrate Ryder assets and contracts from their mobile maintenance services division into its existing business in the United Kingdom, enriching its fleet with around 3,550 additional trailers.
“Over the next months, both companies will work on the fleet integration to manage a smooth transition with customers and suppliers,” said Michael Furnival, TIP vice president of the UK and Ireland Region.
With the acquisition of Ryder, TIP will also expand the number of its facilities in the UK to eighteen, including a site in Lichfield and two parking locations in Shepshed and Manchester.
TIP president and CEO, Bob Fast noted that the acquisition of the trailer leasing and maintenance business of Ryder is another key milestone in TIP’s growth path, as it will increase the company’s UK & Ireland footprint, and will improve service offerings and infrastructure in areas where today there are gaps.
