I Squared Agrees to Acquire Australian Trailer Leaser Rentco

Infrastructure investor I Squared Capital has agreed to acquire Australian truck and trailer leasing business Rentco Transport Equipment Rentals.

I Squared has signed a definitive agreement to buy the firm, which rents out what it said is the country’s largest fleet of heavy duty transport equipment, and to commit another A$300 million ($201 million) to support Rentco’s growth, according to a Tuesday statement confirming an earlier Bloomberg News report. The deal values Rentco at about A$200 million, a person familiar with the matter has said.