Global Infrastructure Partners (GIP), a part of BlackRock, has entered into a definitive agreement to acquire TCR, the largest independent lessor of airport ground support equipment (GSE), from 3i Infrastructure plc. TCR’s management team will invest alongside GIP in the transaction.
Headquartered in Brussels, TCR owns and manages a global fleet of GSE, which includes vehicles, machines, and tools such as tugs, fuel trucks, power units, stairs, baggage loaders, and air conditioning carts. These assets support safe and efficient aircraft operations at more than 200 airports worldwide. TCR maintains a diversified customer base and long-term contractual relationships, making it integral to global airport operations.
The deal aligns with GIP’s strategy to invest in essential aviation infrastructure with strong growth potential and resilient business models. “TCR combines mission-critical airport infrastructure with a highly scalable growth platform, led by an exceptional management team,” said Michael McGhee, Deputy Chairman of GIP. “We look forward to working closely with management to accelerate the company’s international expansion and further strengthen its position at the heart of the global aviation ecosystem.”
GIP manages over $193 billion in assets across energy, transport, digital infrastructure, and water sectors. The acquisition bolsters GIP’s transport platform. The transaction awaits customary closing conditions and regulatory approvals. Announcement date: March 5, 2026.