I Squared – Acquisition of trailer leasing company in Europe

I Squared Capital has agreed to buy trailer leasing company TIP from Chinese conglomerate HNA for more than EUR 1bn and plans to expand the business into new markets in Europe and North America. Amsterdam-headquartered TIP has operations in 17 countries including the UK, Italy, France, Spain, Belgium, the Netherlands and Canada. It has more than 66,000 trailers and 86 trailer service centres. Financial details of the transaction have not been disclosed.