TIP Trailer Services has completed the acquisition of Trailer Wizards, a leading supplier of trailer rental and leasing services in Canada. The pair signed the agreement for the acquisition back in September.
Following the acquisition, TIP will integrate Trailer Wizards with its existing Canadian business, Train Trailer Rentals. This puts TIP in a strong position for long-term growth as it further strengthens its position in the Canadian market. The acquisition diversifies both the geographical footprint across Canada with the expansion of operations to new provinces and the service segment with more specialized trailers.
“After the recent acquisition of PEMA in Europe, the acquisition of Trailer Wizards is another key milestone in the growth path of TIP,” said Bob Fast, president and CEO of TIP Trailer Services. “By joining the teams of Trailer Wizards and Train Trailer Rentals, we can provide the best in flexible commercial trailer fleet solutions and pursue growth opportunities for the combined businesses. We intend to invest to develop our longstanding customer relationships with world-class transport, logistics, and retail customers in Canada.”
TIP’s Canadian division will have a combined fleet of over 33,000 trailers, reefers, chassis and flatbed or drop-deck configurations. The combined business will employ over 500 people, including approximately 300 mechanics, throughout almost 30 locations in Canada from Prince Edward Island to British Columbia.