Global Infrastructure Partners (GIP), a part of BlackRock, has entered into a definitive agreement to acquire TCR, the world’s largest independent lessor of airport ground support equipment, from 3i Infrastructure plc. Members of TCR’s management team will also invest alongside GIP as part of the transaction.
The acquisition reflects GIP’s long-term conviction in the aviation sector and aligns with its strategy of investing in essential infrastructure businesses that support global transportation systems. The firm focuses on infrastructure assets across sectors such as energy, transport, digital infrastructure, and water and waste management, and currently manages more than $193 billion in assets.
Headquartered in Brussels, TCR owns and manages a global fleet of airport ground support equipment used in aircraft servicing and airport operations. The company supports safe and efficient aircraft handling across more than 200 airports worldwide and maintains long-term contractual relationships with a diversified base of airline and airport customers.
Ground support equipment includes vehicles and machinery used for tasks such as aircraft towing, passenger boarding, cargo loading, fueling support, and maintenance operations. By leasing this equipment rather than requiring airports or airlines to purchase and maintain their own fleets, TCR plays a key role in improving operational efficiency and cost management across global aviation infrastructure.
GIP said the transaction strengthens its transport infrastructure platform and expands its exposure to aviation-related assets that benefit from long-term demand growth and resilient operating models. The firm plans to work closely with TCR’s management team to accelerate the company’s international expansion and reinforce its position within the global aviation ecosystem.
Following the closing of the transaction, TCR will continue operating as a global provider of leased airport ground support equipment while benefiting from GIP’s infrastructure investment expertise and operational support.
The deal remains subject to customary closing conditions and regulatory approvals.
KEY QUOTE:
“We are delighted to partner with TCR, the clear global leader in ground support equipment leasing. 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.”
Michael McGhee, Deputy Chairman Of Global Infrastructure Partners (GIP)
