TR Group (Formerly Trailer Rentals)

In 1992, Andrew Carpenter, along with his father Ron, made a pivotal decision to purchase a small trailer hire business from CHEP. This new venture, initially named Trailer Rentals, started with a modest fleet of 65 used trailers. The goal was simple but ambitious: to become a world-class truck and trailer rental company. The company’s journey of growth began almost immediately. A key moment came in 1998 when it acquired the Truck Rentals fleet from Esanda FleetPartners and rebranded to the name it's known as today, TR Group. This acquisition was a clear signal of the company's intent to expand beyond trailers and into the broader heavy vehicle market. Throughout the 2000s, TR Group methodically expanded its footprint across New Zealand, opening new branches and consistently growing its fleet, which passed 2,000 vehicles during this period. A significant event in the company's capital story occurred in 2020. A consortium of New Zealand investors, including Direct Capital, the NZ Super Fund, and the iwi investment vehicle Te Pūia Tāpapa, acquired a 31% stake in the business. This move provided a new injection of capital and support for further growth, while the Carpenter family remained the majority owner. This backing fueled TR Group's expansion into Australia and its investment into a fleet that now exceeds 10,000 vehicles.