Tiphook takes over competitor Rentco
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• Trailer rental company Tiphook has bought Rentco for £71.5 million to become the new European market leader with a fleet of almost 16,000.
The acquisition, which adds Rentco's 6,400 trailers to Tiphook's existing fleet of 9,500, will give Tiphook its first base in France.
Montague says it has brought forward the company's growth by three years. Early this year he forecast that Tiphook would overtake TIP as Europe's biggest trailer rental company by the end of 1988. Now, he says, it is represented in every major Euopean country. Sandy Aranyos, executive chairman of Rentco, and managing director John Midlane will join the Tiphook board. Rentco employs 200 staff and Tiphook 150; Month gue says there will be some job losses.
Rentco has 40 depots in th UK, Holland, France, Belgian Finland, Sweden, Eire and Germany. Rentco operates ar older fleet than Tiphook, and was formed by a management buyout of trailer manufacturer Fruehauf s rental arm for £43 million in May 1987.
It has 21 depots in the UK with 3,500 trailers, and is one of the biggest operators in France with 1,100 trailers, am has plans to add another 300. Tiphook has 39 depots in the UK, Germany, Denmark, Holland, Belgium, Sweden and Spain. Six years ago it acquire Central Trailer Rental.