TIP Trailer Services, a leading trailer leasing, rental, maintenance and repair provider across Europe and Canada, has signed an agreement to acquire PEMA GmbH from Société Générale. PEMA is a commercial vehicle leasing and rental company offering services in Belgium, the Czech Republic, Denmark, Germany, Poland, Sweden and Switzerland.
“This is an exciting step in our path of growth and diversification as we continue to build a stronger platform for the benefit of our customers, partners, employees and stakeholders,” said Adil Rahmathulla, Chairman of the TIP Trailer Services Board and Managing Partner of I Squared Capital.
Closing of the transaction is expected in the coming months subject to customary regulatory approvals. With the acquisition of PEMA, TIP will gain scale and increased geographic diversification with a stronger position in Germany and enter the Swiss market.
“The combined companies will have nearly 89,000 trailers and trucks as well as over 100 workshops offering the largest repair network in Europe and Canada and provide a one-stop shop solution for a wide variety of commercial vehicle equipment,” noted Bob Fast, President and CEO of TIP Trailer Services.
Founded in 1976, PEMA is a commercial vehicle lease and rental company specialising in trucks and trailers and employs around 440 people. PEMA holds a diversified fleet of over 19,000 units with a wide selection of leading brands including Schmitz Cargobull, Krone and Koegel (trailers) and DAF, Volvo, MAN, Mercedes and Renault (trucks). PEMA operates 18 locations throughout Northern and Central Europe including four in-house workshops.
TIP Trailer Services is an equipment service provider specializing in trailer leasing, rental, maintenance and repair, as well as other value-added services to transportation and logistics customers across Europe and Canada. The company has one of the largest and most diverse trailer rental and leasing fleets with over 70,000 units. Headquartered in Amsterdam, TIP has over 2,000 employees and services its customers from 98 locations in 17 countries across Europe and Canada.
