TIP To Acquire Trailer Leasing And Maintenance Business Of Ryder Ltd

TIP Trailer Services, a portfolio company of I Squared Capital, has agreed to acquire the trailer leasing and maintenance business of Ryder System, Inc. (NYSE:R) Ryder Ltd. Deal terms were not disclosed.
Ryder Ltd provides commercial vehicle rental, contract hire, maintenance, and dedicated delivery solutions in the U.K.
TIP will integrate Ryder assets and contracts from the mobile maintenance services division into its existing business in the U.K.
The completion of the transaction is expected to take place in June 2022.
Price Action: R shares are trading higher by 1.98% at $64.27 on the last check Wednesday.

Benzinga