International law firm Stephenson Harwood LLP has advised HNA Group of China on its acquisition of GE Capital’s TIP Trailer Services, a European market leading provider of transport equipment leasing, rental and service solutions. McGregor & Partners SCA, the associated firm of Stephenson Harwood in Romania and Bulgaria, advised on matters relating to TIP Trailer Services’ business and operations in Romania. The acquisition completed on 23 October 2013.
TIP will operate a network of 48 branches throughout 16 European countries, with over 100 rental locations, more than 50 workshops and 100 mobile service vans. It has a transport equipment fleet in excess of 45,000 units. HNA is a leading diversified services and integrated operations company, and as a large multi-industry enterprise group, HNA Group’s business scope covers logistics, air transportation, airport management, hotel management, real estate, retail, tourism and other related industries.
HNA Group was advised by Bravia Capital, with whom they have historically partnered on other transactions.
Commenting on HNA’s acquisition Ben Mercer, partner in the corporate practice at Stephenson Harwood said: “We’re delighted to have advised HNA and Bravia Capital in relation to this major pan-European deal. This acquisition fits perfectly within HNA Group’s existing portfolio and should prove a valuable addition to the business.”
Neil McGregor, the managing partner of McGregor & Partners, said: “We wish HNA every success with this major acquisition and are delighted to have worked with our colleagues at Stephenson Harwood in successfully completing the transaction”.
The team at Stephenson Harwood included Julie Clegg, Ben Mercer, David Lacey and Hugo Jenney, amongst others, whilst at McGregor & Partners Simona Lehniuc, Elena Abdulgani and Neil McGregor dealt with the Romanian aspects of the transaction. DLA Piper advised GE Capital. Credit Suisse and Rabobank were advised by Freshfields with Nestor Nestor Diculescu Kingston Petersen.