TIP Trailer Services has agreed to buy Trailer Wizards – a supplier of trailer rental and leasing services in Canada.
“This is our second recent acquisition and a key step in our growth plan to expand the business to become a leading global provider of trailer services,” said Adil Rahmathulla, chairman of the TIP Trailer Services board and managing partner of I Squared Capital – owner of TIP.
Following the transaction, TIP’s Canadian division will have a combined fleet of over 33,000 trailers including reefers, chassis and flatbed/drop-deck units.
The transaction is subject to customary closing conditions and regulatory approvals.
Meanwhile, two board directors have resigned at Daseke – one of North America’s largest flatbed trailer and specialised logistics providers.
Ron Gafford and Mark Sinclair voluntarily stepped down on September 5, 2019. Brian Bonner, executive chairman, said the reduction the size of the board is part of a plan to “right-size our corporate overhead structure and streamline our organisation”.