I Squared Capital (ISQ), an independent global infrastructure investment manager, has finalized the acquisition, through its ISQ Global Infrastructure Fund II, and acquired 100 percent interest in TIP Trailer Services, one of the leading pan-European and Canadian trailer leasing and services company, from HNA Group (International) Company Limited.

All regulatory approvals required have been obtained, closing conditions have been met and the sale has been successfully completed as of Aug. 1, officials said.

TIP Trailer has 86 locations spread over 17 countries. TIP Trailer services specializes in trailer leasing, rental, maintenance and repair, as well as other value-added services and provide these to transportation and logistics customers.

“TIP’s Senior Leadership team and I are very excited to be undertaking this next phase in our company’s future and we remain convinced of the benefits that it will bring to our customers, our partners and our new shareholder,” said Bob Fast, CEO of TIP Trailer Services.

“Our TIP 2020 strategy remains focused on our customers’ needs and we continue to build on the key pillars which support our success. Our excellent market position across Europe gives us a foundation upon which to expand our footprint globally, particularly in North America. We also continue to expand our range of assets to accommodate the needs of our customers supported by the highest service standards delivered by our extensive network and customer platform.”

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecommunications and transport in the Americas, Europe, and Asia. The firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.