Major merger in the European market. The Dutch will take over a German competitor renting semi-trailers and trucks.
TIP, a company providing rental and service solutions for the transport and logistics industry in Europe, will take over the German competitor PEMA. Thus, it will become the largest network on the Old Continent.
After the merger, the companies will have almost 89,000 semi-trailers and trucks and more than 100 workshops, which will be the largest service network in Europe and Canada. German PEMA has been operating on the market for over 40 years and offers rental and leasing of commercial vehicles in Belgium, Czech Republic, Denmark, Germany, Poland, Sweden and Switzerland.
The acquisition of PEMA is an important step in the development and offering of TIP,” said Adil Rahmathulla, CEO of TIP Trailer Services and CEO of I Squared Capital, owner of TIP.
The merger will enable the company to strengthen its position in Germany and enter the Swiss market.
The transaction is expected to be completed in the coming months, so most likely before the peak of the season. The highest demand for semi-trailers is observed in the last two months of the year when we are dealing with the so-called pre-Christmas boom.
Our customers will have seamless access to service partners across Europe and Canada, making it easier for them to manage their fleet and focus on their core business while enjoying reliability and our professional service,” said Bob Fast, President and CEO of TIP Trailer Services.