Abu Dhabi - Sharikat Mubasher: A consortium of Mubadala Investment Company (Mubadala), Qatar Investment Authority (QIA), I Squared Capital, and other investors invested over $600 million in Transportation Equipment Network (TEN), the second largest full-service trailer lessor in North America.
The proceeds will be used to support TEN’s growth and fuel its plans to expand market reach and create a North American champion for flexible transportation equipment solutions, according to a recent statement.
TEN owns a fleet of more than 83,000 trailers with locations across most major logistics hubs. It recently completed a transaction to combine its operations with those of TIP Canada, the North American operations of TIP Group.
Commenting on the fundraising, Giovanni Oddo, Head of Traditional Infrastructure Investments for Americas at Mubadala, said: “We are proud to partner with I Squared Capital and other leading investors to further enable the growth of TEN's capabilities and market reach, creating one of the largest trailer leasing platforms in North America.”
He stated that the investment reflects Mubadala’s commitment to critical assets that drive economic growth and offer long-term value.
Mohammed Al-Sowaidi, Chief Investment Officer for Americas at QIA, said: “This investment is part of QIA’s strategy to invest in, and partner with, the leading companies in critical sectors such as supply chain networks, logistics and warehouses globally.”
Moreover, Gautam Bhandari, Chief Investment Officer and Managing Partner at I Squared affirmed that the transaction is a win for I Squared's global transportation franchise.
I Squared is a leading independent global infrastructure investor that operates a diverse portfolio of 83 companies in 71 countries with over 66,000 employees in a variety of sectors including utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure.
