3i Infrastructure to divest 71% stake in TCR, an airport ground support equipment leasing provider, for EUR 1.14bn

Sale Transport announced Belgium Mar 5, 2026

USD1.1B

Deal Value

TCR

Project

A EUR 1.14 billion divestment sees 3i Infrastructure exit its 71% stake in TCR. Deutsche Bank advised on the sale of the Belgium-based airport ground support equipment leasing.

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Counterparts (3)

target

TCR

company · 2 deals

Gosselies, Belgium-based TCR Group is a global leader in the rental and maintenance of Ground Support Equipment (GSE) for airports, operating across over 180 airports in 40+ countries with a team of over 1,800 employees.

Seller

3i Infrastructure

company · 4 deals

3i Infrastructure plc is a London-listed investment company managing approximately $4.8 billion in net assets as of March 2024. It invests in a diversified portfolio of infrastructure businesses and assets primarily across Europe and North America, focusing on sectors like digital infrastructure, renewables, utilities, and transport.

advisor

Deutsche Bank

company · 5 deals

Deutsche Bank is a global financial institution that provides a range of financial services to corporations, institutions, and private clients. It focuses on sustainable and transition finance, aiming to support the low-carbon transition and ecosystem conservation.

Deal Analysis

3i Infrastructure is divesting its 71% stake in TCR, a Belgium-based global leader in airport ground support equipment leasing. The EUR 1.14 billion sale sees the firm, which services over 180 airports across 40+ countries, transition ownership. Deutsche Bank advised on the sell-side for this significant transport sector transaction. With regulatory approvals pending, the deal has a notably long runway, targeting completion in Q3 2026.

EUR 1.14bn sale price for 71% stake.
TCR operates across 180+ airports in 40+ countries.
Q3 2026 target for deal completion.
Deutsche Bank served as sell-side M&A advisor.

Source Intelligence

KEY DETAILS

3i Infrastructure has agreed to sell its 71% stake in TCR. The sale proceeds will be used to repay the revolving credit facility and fund further investments and potential new acquisitions. The divestment is part of a portfolio rebalancing strategy amid strong buyer interest. TCR is a provider of airport ground support equipment leasing in 24 countries. The asset was marketed off 2025 EBITDA of EUR 165m and revenues of EUR 413m, implying an EV/EBITDA (2025) of around 7x.

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Deal Size

for an estimated EUR 1.14bn.

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Location

Belgium-based TCR

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Financials

for EUR 1,140m - EV/EBITDA 7x

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Announcement

March 5, 2026

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Expected Close

The transaction, subject to regulatory approvals, is set to complete in Q3 2026.

PARTIES MENTIONED IN SOURCE

3i Infrastructure seller

"3i Infrastructure to divest 71% stake"

TCR target

"3i Infrastructure to divest 71% stake in Belgium-based TCR"

Deutsche Bank advisor

"Deutsche Bank acted as the sell-side M&A advisor in connection with the deal."

high quality Enriched Mar 9, 2026

Timeline

Announced

Mar 5, 2026

Signed

Closed

Get the full picture — timeline, source intelligence, and counterpart analysis.

Source

www.mainsights.io

View Full Deal Details

3i Infrastructure to divest 71% stake in TCR, an airport ground support equipment leasing provider, for EUR 1.14bn

Counterparts (3)

Deal Analysis

Source Intelligence

Timeline

Source

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