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HSF advises I Squared Capital on its proposed acquisition of Rentco

11 May 2023 | Australia, Asia Pacific


Herbert Smith Freehills (HSF) is pleased to be advising I Squared Capital (I Squared) on its proposed acquisition of Australian truck and trailer leasing business Rentco Transport Equipment Rentals (Rentco).

I Squared Capital, a leading global infrastructure investment manager, announced earlier this month that it has signed a definitive agreement, through its ISQ Global Infrastructure Fund III, to acquire Rentco, a leading transport equipment leasing company in Australia providing flexible equipment rental options. I Squared has committed a further AUS $300 million to promote Rentco’s growth across the country and pursue new trailer leasing opportunities.

The HSF team was led by executive counsel Ying Yi Soh, who was supported by partner Nick Baker, senior associate Carrie Hui, and solicitors Freeman Chen and Hamish Cullity.

Ying Yi Soh said, “It has been an absolute pleasure working with the I Squared team, and we are delighted to be assisting I Squared in implementing their strategy of expanding its presence in Australia.”

This deal is another example of Herbert Smith Freehills’ market-leading work advising private capital clients on a wide variety of transactions. Other recent examples include advising QIC Private Capital on its conditional agreement with Vector (NZX: VCT) to buy 50% of Vector’s New Zealand and Australian smart metering business, and Sydney Aviation Alliance (SAA) — the Australian-led consortium comprising IFM Australian Infrastructure Fund, AustralianSuper, Australian Retirement Trust, IFM Global Infrastructure Fund and Global Infrastructure Partners — on its A$32 billion (EV) acquisition of Sydney Airport.

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