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TIP and PEMA join forces as PEMA is now part of the TIP Group

December 3, 2019

AMSTERDAM--(BUSINESS WIRE)--Dec 3, 2019--

TIP Trailer Services, a portfolio company of I Squared Capital and one of the leading trailer leasing, rental, maintenance and repair providers across Europe and Canada, today announces it has completed the acquisition of PEMA GmbH, a commercial vehicle operational leasing and rental company offering services in Belgium, Czech Republic, Denmark, Germany, Poland, Sweden, and Switzerland. This follows the announcement of 26 July 2019 on the signing of the agreement with PEMA’s shareholder for the acquisition.

“This milestone solidifies TIP and PEMA’s strengths in transportation and logistics and positions our joint companies for long-term diversification and growth in keeping with our strategy,” said Bob Fast, President and CEO of TIP Trailer Services. “The combined business will leverage our strengthened geographical footprint, give us a more robust presence in Germany, power PEMA’s truck leasing and rental business, expand TIP’s European workshop network for all customers, and broaden our service offerings and client coverage network. This will benefit employees, customers, partners and shareholders alike.”

The combined companies have a longstanding experience in transportation and logistics across Europe and Canada, supporting customer needs throughout the entire lifecycle of trailers, trucks and swap bodies. Together they have approximately 90,000 trailers and trucks as well as over 100 workshops, offering one of the largest repair networks in Europe and Canada with 208 mobile service vans, providing a one-stop-shop solution for a wide variety of vehicle equipment. Customers will have a seamless service partner across Europe and Canada, simplifying their fleet management and enabling them to focus on their core business activities, while enjoying strong reliability and customer service.

The management of the combined companies are working together on an integration plan to allow a smooth transition. Until integration, existing contracts, services, terms and conditions and processes will remain in place at each of the businesses.

About TIP Trailer Services

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.

About PEMA

Founded in 1976, PEMA is a commercial vehicle operational lease and rental company specializing 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, Krone and Kögel (trailers) and DAF, Volvo, MAN, Mercedes-Benz and Renault (trucks). PEMA operates 18 locations throughout Northern and Central Europe including four in-house workshops.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191202005564/en/

CONTACT: Contacts TIP Europe

Media

Marc Aandeweg

Vice President Sales & Marketing

T +31-(0)20-504-1767

M +31-(0)613-114293

Emarc.aandeweg@tipeurope.com Investor Relations

Kapil Sharma

Treasury and Investor Relations Director

T +31-(0)20-504-1677

M +31-(0)621-105358

Ekapil.sharma@tipeurope.com

KEYWORD: NETHERLANDS EUROPE

INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT FLEET MANAGEMENT OTHER TRANSPORT

SOURCE: TIP Trailer Services

Copyright Business Wire 2019.

PUB: 12/03/2019 02:00 AM/DISC: 12/03/2019 02:01 AM

http://www.businesswire.com/news/home/20191202005564/en