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Benzinga
Benzinga
Business
Akanksha Bakshi

TIP To Acquire Trailer Leasing And Maintenance Business Of Ryder Ltd

Ryder (Organization) TIP (Organization) I Squared Capital NYSE
  • TIP Trailer Services, a portfolio company of I Squared Capital, has agreed to acquire the trailer leasing and maintenance business of Ryder System, Inc. (NYSE:R) Ryder Ltd. Deal terms were not disclosed.
  • Ryder Ltd provides commercial vehicle rental, contract hire, maintenance, and dedicated delivery solutions in the U.K.
  • TIP will integrate Ryder assets and contracts from the mobile maintenance services division into its existing business in the U.K.
  • The completion of the transaction is expected to take place in June 2022.
  • Price Action: R shares are trading higher by 1.98% at $64.27 on the last check Wednesday.
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