3i Infrastructure plc has agreed to acquire the stake in TCR that is owned by funds managed by DWS.

The acquisition will increase 3i Infrastructure holding from 48% to 96% of the equity in TCR, including management. The new investment is expected to be GBP334 million (US$401.19 million), completion of which is subject to certain third-party consent and is expected to take place in Q4 2022.

TCR is the provider of Ground Support Equipment (GSE) rental solutions and services, supporting air industry in their ground handling processes. The business is present in over 160 airports, comprising more than 30,000 GSE assets in its rental fleet.