I Squared Capital to Acquire Rentco, A Leading Trailer Platform in Australia

SYDNEY–(BUSINESS WIRE)–I Squared Capital, a leading global infrastructure investment manager, announced today that it has signed a definitive agreement, through its ISQ Global Infrastructure Fund III, to acquire Rentco, a leading transport equipment leasing company in Australia providing flexible equipment rental options. I Squared has committed a further AUS $300 million to promote Rentco’s growth across the country and pursue new trailer leasing opportunities. I Squared has both the resources and expertise to help Rentco’s next stage of growth, and Rentco is poised to benefit from closer relationships with I Squared’s global leasing platforms including FlexiVan, TIP Trailer Services, and Star Leasing. Following the transaction, I Squared Capital’s global transport and logistics portfolio will have over 264,000 trailers or chassis and 14,423 workshops with 3,700 employees in over 20 countries.
With depots in all mainland states of Australia, Rentco has a wide reach and established relationships with Tier-1 transport and logistics providers. The company also has a diverse customer base across groceries, durable goods, agriculture, and mining that mitigates sector-specific cyclicality while benefiting from growth in other sectors such as e-commerce. Rentco’s leadership team, which will remain with the company, has a strong track record of expanding the business and plans to focus on supporting clients’ asset-light models and vehicle electrification to capture demand from the trend towards more sustainable and cost-effective transportation solutions. The capital commitment from I Squared Capital will help Rentco take advantage of these opportunities in addition to pursuing inorganic growth.
Rentco is part of I Squared Capital’s strategy of expanding its presence in Australia and complements its other portfolio companies: Clean Energy Fuels Australia, a West Australia-based industrial decarbonization platform supporting off-grid miners and remote communities in reducing their carbon footprints, and Soilco, an organic waste processor generating high quality soil health products and supporting the circular economy along Australia’s east coast.
About Rentco
Rentco provides solutions for its customers’ transportation challenges with quality equipment on a short-, medium-, or long-term basis. The company combines Australia’s largest range of heavy-duty transport rental equipment with industry-leading service from highly skilled personnel to support its customers, no matter where they operate in the country. https://www.rentco.com.au/
About I Squared Capital
I Squared Capital is an independent global infrastructure manager with over $37 billion in assets under management focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 215 professionals across its offices in Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney. I Squared Capital has invested in a diverse portfolio of 72 companies in 59 countries with over 27,000 employees across the utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world.
No discussion with respect to specific companies should be considered a recommendation to purchase or sell any particular investment. The companies discussed do not represent all past investments. It should not be assumed that any of the investments discussed were or will be profitable, or that recommendations or decisions made in the future will be profitable. Contacts
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isquared@brunswickgroup.com