Leading trailer company TIP Trailer Services UK has announced that it has acquired the entire Stockport Truck Centre (STC) trailer rental fleet, with the deal being successfully concluded on January 31, 2014.
STC's 420-strong trailer rental fleet currently comprises predominantly of curtainsided trailers, although there is also a mixed selection of refrigerated, box van and skeletal trailers within the existing fleet. All the trailers are in the process of being amalgamated into the national TIP Trailer Services rental fleet that operates through 10 depots across the UK, with all existing rental agreements continuing unchanged.
Announcing details of the trailer fleet acquisition, TIP's Commercial Director, Mike Furnival, said "Through our FleetCare fleet maintenance programme, we already had a good working relationship with Stockport Truck Centre who act as a provider of trailer maintenance services to TIP. As such, we were well aware of the successful growth of their trailer rental business. With many of the trailers being recent acquisitions in 2012 and 2013, the deal with STC enables us to incorporate a significantly younger trailer rental fleet into the TIP trailer portfolio."
The trailer rental fleet at Stockport Truck Centre was first established 7 ago, initially with 150 trailers. Through sales expansion, acquisition and an established customer base, STC's trailer rental business grew to its current level of 420 trailers, operating primarily through the company's site in Dukinfield, Cheshire.
Commenting on the decision to sell the STC trailer fleet to TIP, Stockport Truck Centre's Managing Director Gareth Hardy commented, "The timing was just right for us to complete this deal as we had taken the business as far as we could. We firmly believe that further growth could only be achieved under the ownership of a company who could provide a much higher and comprehensive level of national coverage to our rental customers. TIP is a natural fit for the future of this fleet, so the decision was taken to seal the deal."
With six depots in the North West and a proven customer base, the decision to sell its trailer rental fleet means that Stockport Truck Centre can now focus on its long term core business of providing service, maintenance and body shop repairs to transport and logistics customers.
Gareth Hardy continues, "We are predominantly a North West Company and this deal allows us to concentrate on the growth of our maintenance operation in the region. Over the past few years, this aspect of the company has become the key to the success of the business and we expect it will continue to grow for many years to come. Recently, we have just opened an additional new bodyshop and service facility in North Manchester, as well as now offering full ATF/VOSA testing and tachograph facilities."
The conclusion of the 420-strong trailer rental deal will see further synergies between the two companies, as TIP's Mike Furnival explains, "The close working relationship that we have already established will continue in the future, with Stockport Truck Centre continuing to provide a range of maintenance services to us as part of our established FleetCare programme."