Tiphook Kassbohrer
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• Tiphook, Europe's largest traler rental group, has bought Kassbohrer FahrzeugMietservice, one of West Germany's biggest trailer rental companies, for 23.25 million. The deal includes 538 trailers and exclusive use of service depots owned by Kassbohrer's parent company, the trailer and PSV manufacturer.
The acquisition makes Tiphook the largest trailer rental company in Germany with a fleet of 1,400 trailers. It owns 7,500 throughout Europe, in the UK, Sweden, Denmark, Holland, Belgium and Spain.
Chairman Robert Montague, who set up Tiphook 10 years ago, says he is looking at Germany as "a market with potential". The move is bound to worry TIP, Europe's other leading trailer rental company. TIP, which owns just under 1,000 trailers in Germany, says it welcomes the competition. The trailer rental market in the country is immature, and Kassbohrer exports few trailers because the Deutschmark is so strong, says TIP development director Chris Jepson.
Tiphook's breakthrough saves TIP from having to be a "missionary" in the new market and devoting a lot of resources to marketing and the company will probably continue to grow organically, he claims.