Global Infrastructure Partners to acquire GSE giant

Global Infrastructure Partners GIP, part of BlackRock, has entered into a definitive agreement to acquire TCR, the largest independent lessor of airport ground support equipment, from 3i Infrastructure plc.

The transaction – members of TCR’s management team will invest alongside GIP – is said to reflect “GIP’s long-term conviction in global aviation and its strategy of investing in essential aviation infrastructure businesses with strong growth potential and resilient business models”.

Headquartered in Brussels, TCR owns and manages a global fleet of airport ground support equipment, supporting safe and efficient aircraft operations across more than 200 airports worldwide.

“We are delighted to partner with TCR, the clear global leader in ground support equipment leasing,” said GIP’s deputy chairman, Michael McGhee.

“TCR combines mission-critical airport infrastructure with a highly scalable growth platform, led by an exceptional management team.

“We look forward to working closely with management to accelerate the company’s international expansion and further strengthen its position at the heart of the global aviation ecosystem.”

The transaction is subject to customary closing conditions and regulatory approvals.