I Squared Capital-backed TIP Trailer Services to acquire the trailer leasing and maintenance business of Ryder.

I Squared Capital-backed TIP Trailer Services, an equipment service providers, specialising in trailer leasing, rental, maintenance and repair, agreed to acquire the trailer leasing and maintenance business of Ryder, an American transportation and logistics company. Financial terms are not disclosed. "Acquiring the trailer leasing and maintenance business of Ryder is another key milestone in our growth path. It increases our UK and Ireland footprint, allowing us to improve service offering and infrastructure in areas where we have gaps today. It will increase our service offering to customers, expand and diversify our customer base in the UK," Bob Fast, TIP President and CEO.