Tiphook offer leads to MMC
Page 14
If you've noticed an error in this article please click here to report it so we can fix it.
• Tiphook's takeover of rival trailer rental firm Trailerent has been referred to the Monopolies and Mergers Commission.
The .£9.35 million purchase boosts Tiphook's fleet to more than 14,000 units, giving it a UK market share of more than 30%.
The MMC is due to report on the deal on 2 April. If the sales goes ahead, Trailerent will be operated under Tiphook's Central Trailer Rentco banner.
Eric Goodman, deputy chairman of Tiphook, says: "The trailer market in the UK is 250,000 and one million in Europe. Only a small part of that is rented. We are confident of developing that market and think it is big enough to take everyone. We will give the MMC every support."
Disappointed Trailerent managing director Mike Dibbs, who led the unsuccessful management buyout bid, will not reveal if he will remain with the company, but says: "Tiphook has paid a good price for Trailerent and I am sure it will do everything to preserve the company."
Tiphook-owned Central Trailer Rentco International has signed an agreement with Hungarocamion which will enable the Hungarian road transport company to rent trailers from CTRI's 10 European subsidiaries.
CTRI has a fleet of more than 18,500 trailers with 60 depots throughout Europe. Hungarocamion owns, updates and maintains vehicles all over Europe and the Middle East, and is a partner in several transport and forwarding companies throughout Europe.