Global Infrastructure Partners to acquire TCR, a global lessor of airport ground support equipment

Global Infrastructure Partners (GIP) is acquiring TCR, the largest independent lessor of airport ground support equipment (GSE), from 3i Infrastructure. This move provides GIP, an infrastructure fund manager with over $100 billion in assets under management, with immediate global scale in a critical transport sub-sector. TCR manages a fleet across more than 200 airports, operating in over 40 countries, offering GIP a diversified and geographically robust revenue stream from essential airport operations. The acquisition of an operating asset like TCR, based in Gosselies, Belgium, aligns with GIP's stated investment focus across energy, transport, water, and digital infrastructure. This transaction positions GIP to capitalize on the stable demand for GSE services, which are fundamental to airport functionality worldwide. For 3i Infrastructure, a London-listed investment company managing approximately $4.8 billion in net assets as of March 2024, the divestment of TCR represents a portfolio realization event. This sale allows 3i Infrastructure to crystallize value from its investment in a diversified infrastructure business. Meanwhile, GIP's acquisition of TCR, a global leader in GSE rental and maintenance, further solidifies its extensive transport portfolio. The involvement of major institutional players like GIP and 3i Infrastructure, alongside BlackRock as a global asset manager, underscores the continued institutional appetite for mature, cash-generative infrastructure assets. This deal, announced on March 9, 2026, reinforces the trend of large infrastructure funds consolidating market leadership in specialized, global operating businesses within the transport sector.