TIP Trailer Services, which provides trailer leasing, rental, maintenance and repair in Europe and Canada, recently completed the acquisition of Trailer Wizards, a supplier of trailer rental and leasing services in Canada.
The two companies agreed to the deal Sept 4, 2019.
TIP plans to integrate Trailer Wizards into its existing Canadian business, Train Trailer Rentals, in a move it says strengthens its bid for long-term growth. The acquisition also diversifies TIP’s geographical footprint across Canada, with the expansion of operations to new provinces, and its service segment, adding more specialized trailers.
“After the recent acquisition of PEMA in Europe, the acquisition of Trailer Wizards is another key milestone in the growth path of TIP,” said Bob Fast, president and CEO of TIP Trailer Services. “By joining the teams of Trailer Wizards and Train Trailer Rentals, we can provide the best in flexible commercial trailer fleet solutions and pursue growth opportunities for the combined businesses. We intend to invest to develop our longstanding customer relationships with world-class transport, logistics and retail customers in Canada.”
TIP said its Canadian division will have a combined fleet of more than 33,000 trailers, reefers, chassis and flatbed or drop-deck configurations. The combined business will employ more than 500 people, including approximately 300 mechanics, throughout almost 30 locations in Canada, from Prince Edward Island to British Columbia.
The management of the combined business is working together on an integration plan to allow a smooth transition. Unless communicated otherwise, existing contracts, services, terms and conditions, and processes will remain in place at each of the businesses.