On Sept. 13, Transport International Pool (TIP) acquired most of Action Trailer Leasing's trailer assets and lease portfolio. Acquisition terms weren't disclosed.
TIP — a GE Capital subsidiary that rents, sells and leases intermodal equipment and over-the-road trailers — plans to integrate Action's 3,600 trailers into its Canadian fleet and consolidate Action's leasing branches in Montreal; Toronto; Calgary, Alberta; and Moncton, New Brunswick with TIP's Canadian branch network.
Action plans to continue operating its utility trailer dealerships covering Ontario and Quebec through existing Mississauga, Ontario, and Montreal facilities, as well as rent on a short-term basis a limited number of trailers.
The acquisition follows TIP's strategy aimed at adding premium equipment to its fleet and enables the company to better serve its Canadian customers, said TIP North America President Chris Hines in a prepared statement.
Source: Progressive Railroading Daily News
