Travers Smith LLP has advised the senior management team of the TCR Group, the largest independent lessor of airport ground support equipment, on the sale by 3i Infrastructure ("3iN") of its 71% stake in TCR.
Expected net proceeds to 3iN from the sale are approximately €1.14bn. The transaction is conditional on receipt of customary regulatory approvals and is expected to complete during Q3 2026.
TCR has expanded its operations from 100 airports across 11 countries to 237 airports in 24 countries, whilst more than doubling the size of its fleet. Since 3iN’s investment in 2016, TCR completed six bolt-on acquisitions to grow the business and expand into new markets and has supported its clients in their sustainability efforts by electrifying over 40% of its fleet.
The Travers Smith team was led by Private Equity & Financial Sponsors Partner Adam Orr with support from Senior Associate Tiarnan McKeown, Associate Ingrid Solberg and Trainee Tamar Kamladze.
