China-based HNA Group Inks Deal to Purchase TIP Trailer Services from GE Capital
HNA Group Company Limited (HNA) of China, a diversified services and integrated operations company, announced it has agreed to acquire GE Capital's TIP Trailer Services, a European provider of transport equipment leasing, rental, and service solutions, subject to customary closing conditions, including regulatory approvals. HNA Group is advised by Bravia Capital (Bravia) of Hong Kong with whom it has historically partnered on other transactions.
Following the completion of the acquisition TIP will operate a network of 48 branches throughout 16 European countries, with over 100 rental locations, more than 50 workshops and 100 mobile service vans. TIP has a transport equipment fleet in excess of 45,000 units.
GE Capital is advised by Barclays and Credit Suisse.