TR Group
TR Group is a New Zealand-headquartered heavy commercial vehicle rental, leasing, and fleet management company operating 10,000+ vehicles across Australia and New Zealand, serving transport, construction, and logistics operators with integrated lease, rental, maintenance, and driver training solutions plus a leading zero-emission truck fleet.
- Company typePrivate
- Founded1994
- HeadquartersAuckland, New Zealand
- Headcount101–250
- GTM typeB2B
- OfferingServices
What TR Group does
TR Group is a New Zealand-headquartered heavy commercial vehicle rental, leasing, and fleet management company serving transport operators, construction firms, logistics providers, and government/emergency services clients across New Zealand and Australia. The company manages a fleet of more than 10,000 heavy vehicles across 100+ categories — including curtainside, tipper, flat deck, refrigerated, crane/HIAB, tractor units, traffic management, water carts, and specialised trailers — through 10+ strategically placed depots in both countries. Its five revenue streams are long-term truck and trailer leasing (36+ month contracts where TR sources, specifies, and builds vehicles), short-to-medium term rentals (one day to 12+ months), used vehicle sales from ex-lease and ex-rental inventory, preventative and emergency maintenance services, and Class 2–5 driver training via the TR Driver Training subsidiary.
The underlying platform is an asset-heavy fleet operation with a deliberate pivot toward low- and zero-emission vehicles. As of June 2025, TR Group operated 47 battery electric trucks (over 1.5 million km travelled), 20 hydrogen fuel cell trucks — including 50-tonne prime movers converted from DAF CF 530 chassis by Global Bus Ventures using two Toyota 85kW fuel cells (170kW total), 124kWh battery, and 52kg hydrogen storage delivering 450–500km range — as well as Hyundai Xcient FCEV rigid trucks, hydrogen dual fuel tractors, hybrid trucks, and Euro 6 vehicles. Sustainability data is monetised through partnerships such as Ofload's Carbon Analytics Platform, which helped Kimberly-Clark Australia cut transport emissions by 5.23% in 2024.
The business model is primarily B2B direct sales through dedicated account managers at each depot, with a sales-led go-to-market targeting enterprise and mid-market fleet operators. Pricing is quote-based, with usage-based billing for rentals and multi-year subscription contracts for leasing; maintenance, tyres, RUC, and 24/7/365 nationwide breakdown support are bundled into rates. The company has expanded into Australia through two acquisitions — Axle Hire (Perth, December 2022) and Southern Cross Rentals (Adelaide, August 2023) — and previously acquired DT Driver Training (December 2018) to verticalise into licensing. TR Group is privately held, with prior institutional capital from CHAMP Ventures (2014) and a 2020 round involving Direct Capital Private Equity, Maori Investments, and NZ Super Fund.
TR Group firmographics
Firmographics- Name
- TR Group
- Legal name
- TR Group
- Website
- https://trgroup.co.nz
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- TR Group is a New Zealand-headquartered heavy commercial vehicle rental, leasing, and fleet management company operating 10,000+ vehicles across Australia and New Zealand, serving transport, construction, and logistics operators with integrated lease, rental, maintenance, and driver training solutions plus a leading zero-emission truck fleet.
- Ownership category
- akta.pro rank
Where TR Group is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices10 records
Markets served
TR Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Truck and Trailer Leasing: Long-term lease arrangements typically 36+ months where TR sources, prices, specifies and builds vehicles based on customer requirements. Vehicles include latest technology with optimum specifications for efficiency and safety.
- Truck and Trailer Rentals: Short to medium-term rental with flexible terms from one day to 12 months or more. 24/7/365 nationwide backup, flexibility and choice from NZ's largest heavy commercial rental fleet.
- Used Vehicle Sales: Sale of quality second-hand heavy commercial vehicles from lease and rental fleet. Extensive range of ex-lease trucks and trailers maintained to highest standards.
- Maintenance Services: Preventative maintenance plans, stock of swing componentry for quick parts replacement. Maximizes vehicle uptime and gets vehicles back on road quickly.
- Driver Training: TR Driver Training provides courses from Class 2 to Class 5 licensing, endorsements, and specialised training for truck-mounted cranes. Available online, at workplace, or at nationwide locations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Daily to 12-month rentals |
| Subscription | Multi-year contract | Long-term lease arrangements |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
TR Group product offering
Product offeringCore offering
TR Group is New Zealand and Australia's largest heavy commercial vehicle rental, leasing, and fleet management operator, managing over 10,000 vehicles across 100+ categories. Core offerings include truck and trailer leasing (36+ month contracts where TR sources, prices, specifies, and builds vehicles), short-to-medium-term rentals (one day to 12+ months) from the largest heavy commercial rental fleet, used vehicle sales of ex-lease and ex-rental vehicles, preventative maintenance and 24/7 repair services, and TR Driver Training covering Class 2 to Class 5 licensing. The company is also a sustainability leader in zero-emission heavy vehicles with battery electric, hydrogen fuel cell, hybrid, and Euro 6 trucks available.
Product overview
TR Group is a heavy commercial vehicle rental, leasing, and fleet management company operating across New Zealand and Australia. The core offering consists of three interconnected product lines: Truck and Trailer Leasing (custom vehicle sourcing and build for long-term contracts), Truck and Trailer Rentals (short- to long-term hire from New Zealand's largest commercial rental fleet of over 1,200 vehicles across 100+ categories), and Used Vehicle Sales (quality ex-lease and ex-rental vehicles with customisation and refurbishment services). These are supported by Maintenance Services (preventative and emergency repairs), TR Driver Training (licensing, endorsements, and crane operator training), and an Environmental, Social & Governance programme. The fleet spans multiple vehicle categories including curtainside, tipper, flat deck, refrigerated, crane/HIAB, EWP, tractor units, traffic management, water carts, bottom dumpers, side loaders, skeletal trailers, and transporters. TR Group also operates sustainability-focused sub-brands including Battery Electric Vehicles (47 BEV trucks as of June 2025), Hydrogen FCEV trucks (including GBV-converted 50-tonne prime movers and Hyundai Xcient rigid chassis), Hydrogen Dual Fuel trucks, Hybrid trucks, and Euro 6 emission trucks. A premium tier called Elite Truck Rentals offers higher-specification vehicles with greater power and payload.
Differentiator
Problem solved
Functional benefit
Products and services
- Hybrid Truck Rental Hybrid trucks integrated into the rental fleet across categories such as traffic management, toolbox tippers, and metro curtainside delivery vehicles, offering improved fuel and emissions savings.
- End-to-End Fleet Decarbonisation Service End-to-End Fleet Decarbonisation Capability bringing together TR Group's practical experience, engineering expertise, and operational support capability into one structured market offering for customers seeking to reduce transport emissions across New Zealand and Australia.
Quantifiable outcome
- 1,500,000km travelled by 47 battery electric trucks as of June 2025
- +4 more outcomes
Companies that use TR Group
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles5 records
TR Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
TR Group partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered flagship, core and minor.
- Hiringa EnergyflagshipHydrogen fuel partnership for deploying hydrogen fuel cell trucks in New Zealand. Hiringa operates hydrogen refuelling stations in South Auckland, Hamilton, Palmerston North with fourth station in Tauranga. TR Group deploying 12 hydrogen trucks initially with government support through Covid Response Fund ($6M for 20 trucks) and $16M loan for refuelling infrastructure.
- OfloadcorePartnership for deploying first electric freight truck with Kimberly-Clark Australia. Ofload provides Carbon Analytics Platform enabling emissions tracking - helped Kimberly-Clark cut transport emissions by 5.23% in 2024, avoiding 3,544 tonnes CO2.
- Volvo Group AustraliacoreSupplied Volvo FL Electric truck leased through TR Group for Kimberly-Clark Australia's first electric freight truck deployment in Brisbane integrated into Brisbane Transport fleet.
- Brisbane TransportcoreHost fleet partner for electric freight truck deployment. Electric Volvo FL Electric integrated into Brisbane Transport fleet for daily freight routes as part of zero-emission logistics partnership.
- Global Bus Ventures (GBV)flagshipLocal New Zealand company that retrofits DAF CF trucks with hydrogen fuel cell technology. GBV has over 50 years of heavy vehicle production experience and is NZ's leading hydrogen vehicle integrator. Produced NZ's first hydrogen electric bus and designed hydrogen-electric power systems for America's Cup chase boats.
- Toyota New ZealandcoreSupplies Toyota fuel cells for hydrogen truck conversions. Two 85kW fuel cells (170kW total) installed in each GBV-converted hydrogen truck. Toyota has been at forefront of promoting hydrogen as sustainable energy source in NZ.
- Hyundai New ZealandcoreSupplying 4 Xcient FCEV heavy duty trucks to complement first Hyundai hydrogen truck operated by NZ Post contractor Shea Transport. Shea Transport truck has 180,000km on clock with 201 tonnes CO2 avoided.
- EECA (Energy Efficiency and Conservation Authority)coreGovernment body providing co-funding through Low Emissions Transport Fund supporting purchase of hydrogen and battery-electric trucks. Also provides funding for hydrogen refuelling infrastructure development.
- The Cause CollectiveminorPartnership supporting Get Ready Work Ready Programme providing career insights and skills development for Māori youth. TR Group hosted site tours demonstrating transport industry career opportunities.
- Toitū EnvirocareminorIndependent verification body that verified RHINO's lifecycle carbon assessment under ISO 14067:2018 confirming 76% carbon reduction for recycled mudguards in NZ.
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
TR Group competitors and assessment
Company assessmentDirect peers
- Ryder System: Ryder is the largest full-service commercial truck leasing, rental, and fleet management operator in North America with hundreds of thousands of vehicles. It is the most direct international comparable to TR Group's heavy commercial rental, leasing, and maintenance model, and serves as a useful benchmark for ANZ scale-up ambition.
- Penske Truck Leasing: Penske is a joint venture between Penske Corporation and Mitsui that operates one of the largest heavy-duty truck leasing and rental fleets in North America. It is closely comparable to TR Group in offering full-service leasing, commercial rental, and contract maintenance for Class 6-8 trucks, and represents the global benchmark for asset-heavy fleet operations.
- Enterprise Truck Rental: Enterprise Truck Rental is the heavy commercial division of Enterprise Mobility, operating a large truck rental fleet in North America. It is directly comparable to TR Group's short-to-medium-term rental business model across multiple truck categories, with similar depot-based customer pickup and drop-off dynamics.
- FleetPartners: FleetPartners (formerly Custom Fleet) is one of Australia's largest vehicle fleet leasing and management companies, operating across passenger and commercial vehicles. It is the closest ANZ-based direct peer to TR Group, offering multi-year novated leases and fleet management services to enterprise and mid-market customers.
- SG Fleet: SG Fleet is an ASX-listed Australian fleet management, leasing, and salary packaging company serving corporate and government clients. It competes with TR Group in the ANZ fleet leasing market and is a useful peer for benchmarking enterprise customer economics, even though it skews more toward passenger vehicles.
Broad incumbents
- LeasePlan: LeasePlan is a global fleet management and vehicle leasing company with operations across 30+ countries and a multi-million-vehicle portfolio. While it skews to passenger cars, its commercial vehicle leasing business and global scale make it a broad incumbent comparable for TR Group's enterprise leasing and fleet management capability.
- Element Fleet Management: Element Fleet Management is the largest pure-play automotive fleet manager globally, managing over 1.4 million vehicles across North America, Mexico, Europe, and Australia. Its ANZ presence provides a direct competitive overlap with TR Group, particularly for multinational customers seeking single-vendor fleet solutions.
Regional players
- Coates Hire: Coates Hire is Australia's largest equipment rental company, operating across commercial vehicles, access equipment, and industrial machinery. While its portfolio is broader than TR Group's, it directly competes in the ANZ commercial vehicle rental market and represents a similar depot-density-driven business model.
- Kennards Hire: Kennards Hire is an Australian and New Zealand family-owned equipment rental company with a large depot network. It overlaps with TR Group in the truck and trailer rental category, particularly for construction and trades customers, though its core business is broader equipment hire rather than heavy commercial.
Emerging players
- Northgate plc: Northgate plc is a UK-listed commercial vehicle rental specialist operating light commercial vehicles across the UK, Ireland, and Spain. While smaller and light-commercial focused versus TR Group's heavy commercial focus, it is a relevant peer for the pure-play vehicle rental model, depot economics, and used vehicle residual management.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
TR Group social profiles
Digital presenceTR Group compliance and trust
Trust signalCompliance2 records
TR Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
TR Group leadership team
Management profileNumber of profiles
Profiles9 records
TR Group subsidiaries and ownership
Company hierarchySubsidiaries2 records
TR Group funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TR Group M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TR Group
What does TR Group do?
TR Group is New Zealand and Australia's largest heavy commercial vehicle rental, leasing, and fleet management operator, managing over 10,000 vehicles across 100+ categories. Core offerings include truck and trailer leasing (36+ month contracts where TR sources, prices, specifies, and builds vehicles), short-to-medium-term rentals (one day to 12+ months) from the largest heavy commercial rental fleet, used vehicle sales of ex-lease and ex-rental vehicles, preventative maintenance and 24/7 repair services, and TR Driver Training covering Class 2 to Class 5 licensing. The company is also a sustainability leader in zero-emission heavy vehicles with battery electric, hydrogen fuel cell, hybrid, and Euro 6 trucks available.
Is TR Group a public or private company?
TR Group is a private company. It is classified as private equity controlled and is currently operating.
When was TR Group founded?
TR Group was founded in 1994. It employs 101 to 250 people.
Where is TR Group based?
TR Group is headquartered in Auckland, New Zealand, in the Oceania region.
How does TR Group make money?
Five revenue lines are on record. Truck and Trailer Leasing is the primary driver. The others are truck and Trailer Rentals, used Vehicle Sales, maintenance Services and driver Training.
Who are TR Group's main competitors?
Direct peers on record are Ryder System, Penske Truck Leasing, Enterprise Truck Rental, FleetPartners and SG Fleet. Broad incumbents are LeasePlan and Element Fleet Management. Regional players are Coates Hire and Kennards Hire. Northgate plc is listed as an emerging player.
Does TR Group have an API?
No public API is recorded for TR Group.