TIP Trailer Services expands UK business with acquisition
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As part of its global expansion programme, TIP Trailer Services has announced its latest acquisition in the UK, following the purchase of Steers Group Limited, and its wholly owned subsidiary Eurotrail UK Ltd, for an undisclosed sum.
With effect from November 1 , TIP has acquired the shareholding of Eurotrail’s parent company, Steers Group.
Following the change of ownership, TIP has also confirmed that members of Leeds-based Eurotrail’s management team will remain with the business, as, too, will key members of staff who have been crucial to the successful development of the business over the past 28 years.
Announcing details of this latest acquisition, Bob Fast, president and CEO, TIP Trailer Services, said: “The acquisition of Eurotrail will support our asset diversification strategy with a growing focus on heavy commercial vehicles, whilst complementing the existing offering from Grayrentals, TIP’s commercial vehicle hire business.
“In addition to being a well established business within the contract hire sector, the acquisition will enable TIP/Grayrentals to work with new customers and support them with a wide range of commercial vehicle hire services.”
Eurotrail was established in 1997 by Alan Steers and employs approximately 15 people at its West Yorkshire head office. Associations between Eurotrail and TIP, which has its UK base on the outskirts of Trafford Park in Manchester, go back quite a few years, with Alan working for TIP back in the 80s.
Indeed, another key member of the current team opened a TIP branch in the North East back in 1979.
The company currently operates a fleet of primarily HGV assets including specialised vehicle bodies, crane, hookloader and cement mixer trucks.
Eurotrail provides customers with a range of services including leasing and rental, fleet maintenance and management.
Bob Fast added: “Globally, and within Europe, TIP has progressively increased its growth both organically and through acquisition.
“Eurotrail UK Ltd is joining the TIP family at an exciting time and we are looking forward to continuing the growth of the Eurotrail business here in the UK over the coming years, with the long term support and financial stability of TIP behind them.”