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ISquareI Squared portfolio companies Transportation Equipment Network (“TEN”) and TIP Canada combine operations; now the second largest full-service trailer lessor in North America

  • The transaction consolidates TEN’s North American footprint; TIP Group to focus exclusively on its core European business

Miami, 15 April 2024 - I Squared Capital, a leading independent global infrastructure investment manager, today announced a transaction to combine the North American operations of two of its portfolio companies.

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Declaring the government was “motivated by the need for highway safety” in the wake of the Humboldt Broncos bus tragedy, Canada’s Transport Minister Marc Garneau and

his provincial counterparts announced the creation of a national mandatory entry level training (MELT) standard for all new commercial truck drivers by Jan. 1, 2020; harmonized technical standards for electronic logging devices (ELDs); as well as enhanced road safety for impaired and distracted driving.

The announcement was made following meetings between Transport Canada and the Council of Ministers Responsible for Transportation and Highway Safety.

CTA and its provincial association partners created the CTA 10-Point Action plan in 2018 – a national vision for truck safety in Canada – which served as the roadmap for Minister Garneau and the provincial transportation ministers for improving the on-road safety performance of commercial vehicles across Canada.

“Today’s announcement is an excellent example of industry and government working together toward achieving positive results,” said CTA Chair Scott Smith. “It’s a historic day for our industry to see all provinces committed to creating a national training standard. Minister Garneau and all the provincial ministers in attendance should be applauded for their leadership and commitment to work with our industry.”

Garneau said the Canadian Council of Motor Transportation Administrators will be tasked with developing the national mandatory entry level training standard before it is included in the National Safety Code by the end of the year. He added the group will look at the current MELT program in Ontario and incoming standards in Saskatchewan and Alberta as examples.

“We are encouraged by the direction and timelines outlined by Minister Garneau regarding the implementation of MELT across the country. We as an industry remain committed to working with all governments on a third-party certified ELD mandate coming into effect the same year,” said CTA president Stephen Laskowski.

CTA and its provincial association partners are looking forward to working with all levels of government over 2019 to achieve the mutual goal of improving highway safety.

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