HONG KONG--(BUSINESS WIRE)--HNA Group Company Limited (HNA) of China, a leading diversified industrial and services company, and Bravia Capital (Bravia) of Hong Kong, today announced the completion of HNA’s acquisition of TIP Trailer Services Group (TIP) a wholly owned subsidiary of GE Capital. TIP provides trailer leasing, rental, maintenance and other value-added solutions to transportation and logistics customers across Europe. Headquartered in Amsterdam, TIP supplies its customers with products and services from over 100 locations. TIP owns and manages approximately 48,000 units and boasts one of the largest and most diversified fleets in Europe.
“The acquisition of TIP into our portfolio is a good strategic fit, complementing our existing investments in world-wide aircraft leasing, marine container leasing and ship leasing. We are very pleased to be acquiring an excellent GE management team who we fully support. We continue to strengthen our transportation finance and services capabilities internationally, and we intend to grow TIP Trailer Services during the coming years,” said Tan Xiangdong, Vice-Chairman and President of HNA.
“We are pleased to be joining the HNA Group, who have a demonstrated history of success growing transportation finance businesses. We intend to be the partner of choice in our market by continuing to offer the high standards of care, service and reliability on which our customers have come to rely,” said Bob Fast, CEO of TIP.
“The TIP acquisition underscores our successful track record of partnering with HNA, acquiring and integrating top-tier, asset-heavy businesses servicing the transportation and logistics sectors,” said Bharat Bhisé, CEO of Bravia Capital. “We have now been partners on 7 investments with HNA totaling over US$7.2 billion in enterprise value over the past 3 years.
About HNA Group
HNA Group Co. Limited (“HNA”) is a leading China-based conglomerate with interests in transportation, logistics, tourism, financial services, real estate, airport and retail. HNA owns 15 airlines in China and Hong Kong, including Hainan Airlines, the 4th largest airline in China. Based in Haikou and Beijing, HNA has total assets exceeding USD equivalent 57 billion and annual revenues of USD equivalent 19 billion. For more information please go to the company’s web site: http://www.hnagroup.com/en/index.html.
About Bravia Capital
Bravia Capital is a Hong Kong based private equity and investment firm with a primary focus on transportation, logistics, infrastructure and financial service investments worldwide. HNA and Bravia have recently completed several other key transportation sector acquisitions: Africa World Airlines in Ghana (2012), Seaco (2011), MyCargo Airlines (2011), MyTECHNIC (2010), and Hong Kong Aviation Capital (2010). For more information please go to the company’s web site: www.braviacapital.com.