TCR is Europe’s largest independent asset manager of airport ground support equipment and operates at over 180 airports.
During the year to 31 March 2023, TCR’s activity increased significantly, materially surpassing pre-Covid levels. This outperformance reflects a sustained rebound of air traffic as well as an increased post-pandemic demand for full-rental GSE solutions globally: TCR added over 35 airports in 2022 and its off-lease rate has reverted to early 2019 levels.
In November 2022, following a bilateral process, TCR completed the acquisition of Adaptalift, a provider of GSE and associated maintenance services to the aviation industry across Australia, adding incremental EBITDA at an attractive valuation with strong expected synergies.
In parallel, TCR has signed important new contracts with flagship customers, which may lead to further sale-and-lease-back opportunities.
To support this strong growth, TCR successfully completed the refinancing of its existing RCF in January 2023, raising €225 million of new debt facilities.
operates at over 180 airports
ground support equipment assets
Managing Partner, Co-Head of European Infrastructure
/ Executive Committee