TIP Trailer Services has struck a deal with Ryder to acquire the trailer leasing and maintenance business, which will save 133 jobs.

Agreed for an undisclosed sum, the deal means TIP will add around 3,550 trailers and a workshop in Lichfield, as well as two ‘parking locations’ in Shepshed and Manchester, to its portfolio.

Michael Furnival, TIP vice president for the UK and Ireland region, said both companies would now work on the fleet integration to manage a smooth transition with customers and suppliers.

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He said: “A significant portion of the Ryder Ltd mobile maintenance services employee base are mobile technicians which will be a great addition to TIP’s maintenance and repair business.”

Ryder System Inc, the parent company of Ryder UK, has now completed a consultation with its employees and confirmed it still intended to withdraw from its operations in the UK over the coming 18 months.