TIP-GROUP
On 8 December 2022, TIP Group, a portfolio company of I Squared Capital, has successfully raised additional funding to further grow and strengthen the business and implement its strategic planning.
The existing borrowing base financing arrangements (consisting of revolving and term debt) (BBF) were increased from €1,197 million to €1,391 million. The pricing, tenor and structure remained unchanged. The BBF matures in December 2025 but benefits from a 2 year extension option.
TIP also raised an additional €75 million in liquidity by creating a new "green" revolving borrowing base facility. This sub-facility is specifically sustainability linked, a reflection of TIP Group's intentions to meeting its sustainability ambitions and providing its customers with high quality low emission assets. The proceeds of this "green" sub-facility may only be used to finance "green assets" in line with the Green Loan Principles published by the Loan Market Association.
Bob Fast, President and CEO, explains: “The increase of our existing BBF and a new sustainability linked "green" sub-facility provides flexibility to grow further, both organically and non-organically and broaden our geographical presence. The additional funds from existing and new financing partners reflect the trust in our business underpinned by our growth in the past seven years and provides a strong platform to continue along that path.”
Hans van Lierop, CFO, continues: “We originally structured and funded our RCF for EUR 300 million with three banks in 2014, and increased those financing arrangements to EUR 1,197m of borrowing based linked revolving and term debt by 2021 with 11 banks and non-banks in the syndicate. Further increase in the liquidity by EUR 269 million, including commitments from 2 new banks, this year adds to the robustness of our balance sheet. There was a strong interest in the loan market driven by our business growth and performance over the last seven years which had proven resilient in challenging market environments. We are closing 2022 with a strong balance sheet and liquidity position to support our long-term vision.”
The additional funding will support capital investments and future acquisitions to strengthen further the businesses leading market position and contributes to our sustainability ambitions and goals.
Rabobank and ABN AMRO Bank acted as joint coordinators, active book runners and joint sustainability coordinators to the TIP Group on the transaction. DLA Piper, Amsterdam supported the TIP Group as legal advisors, and Freshfields Bruckhaus Deringer acted as legal advisors to the financiers.
About TIP Group
Headquartered in Amsterdam, the Netherlands, TIP is a leading provider of equipment and services within Europe and Canada. Located in 18 countries, and offering over 138 service locations, TIP specializes in providing the transportation and logistics sector with leasing, rental, maintenance, and repairs through a wide selection of trailer equipment. For more information, please visit: https://www.tip-group.com
About I Squared Capital
I Squared Capital is an independent global infrastructure investment manager with over $36 billion in assets under management focusing on energy, utilities, digital infrastructure, environmental infrastructure, transport and social infrastructure in North America, Europe, and select high growth economies in Asia and Latin America. Headquartered in Miami, the firm also has offices in London, New Delhi, Singapore, Hong Kong, Taipei, and Sydney.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005398/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Malaysia Digital Economy Corporation and Ant International Deepen Partnership to Accelerate Digitalisation of MSMEs Across Malaysia3.12.2025 07:00:00 CET | Press release
The Malaysia Digital Economy Corporation (MDEC) and Ant International are strengthening their partnership to accelerate the digital transformation of micro, small and medium enterprises (MSMEs) nationwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251202701220/en/ (L-R) Chen Leiming, Senior Vice President & Chief Sustainability Officer of Ant International; Ir. Wan Murdani Wan Mohamad, Vice President of Digital Adoption, MDEC; Ian Cheong, CEO of EPOS In a newly established Memorandum of Understanding (MoU), Ant International will empower local MSMEs through EPOS, the all-in-one SME transformation platform of Ant International’s Antom, offering a comprehensive suite of digitalisation solutions. MDEC will support the programme by engaging the MSME community, industry associations, and ecosystem partners to drive broad-based digital adoption across the country. This builds on MDEC’s ongoing collaboration with Ant Internati
Hyatt Advances Luxury Brand Focus With New Leadership and Planned Global Expansion in 20263.12.2025 07:00:00 CET | Press release
Hyatt appoints Tamara Lohan to lead its luxury brands; shares preview of extraordinary openings worldwide. Hyatt Hotels Corporation (NYSE: H) today announced at ILTM Cannes the next chapter of Hyatt’s luxury journey, unveiling strengthened leadership with the appointment of Tamara Lohan as Global Brand Leader – Luxury on an interim basis and previewing a remarkable pipeline of luxury openings set for 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251202423660/en/ Tamara Lohan, Global Brand Leader – Luxury, Hyatt “Hyatt’s momentum in luxury continues to accelerate, powered by our insights-driven development strategy and commitment to delivering deeply resonant guest experiences,” said Mark Hoplamazian, President and Chief Executive Officer, Hyatt. “Tamara brings world-class luxury expertise, and her leadership will further strengthen our ability to differentiate our luxury brands while growing with intent in the markets
Kioxia and Google Collaborate to Boost Clean Energy Use in Japan3.12.2025 03:30:00 CET | Press release
As part of its commitment towards a more sustainable future, Kioxia Corporation (“Kioxia”) today announced a collaborative initiative with Google LLC (“Google”) to boost its use of the clean electricity generated by a hydropower retrofit project in Japan's Chubu region. This project, owned by the Chubu Electric Power group, is expected to increase annual clean energy generation, contributing to the decarbonization of the grid and supporting both companies' net-zero efforts. Kioxia, a leader in memory solutions, has begun offtake of its portion of the hydropower project's electricity, which is expected to reach 160 gigawatt-hour (GWh) per year (enough to power about 40,000 Japanese homes). This move directly supports Kioxia's goals of sourcing 100% renewable energy for use in its own business activity by fiscal year (“FY”) 2040 and achieving net-zero greenhouse gas emissions by FY2050. Kioxia’s hydropower offtake, which provides “round-the-clock” clean power, also helps reduce Google's
NIKE, Inc. Announces Senior Leadership Changes to Accelerate “Win Now” Actions2.12.2025 22:59:00 CET | Press release
NIKE, Inc. (NYSE:NKE) today shared the following note with employees regarding changes to its Senior Leadership Team. // Team, I’d like to share some important changes to our Senior Leadership Team (SLT) that further remove layers and continue to bring us closer to athletes* and the marketplace. We’re establishing the role of EVP, Chief Operating Officer (COO), reporting to me, to better connect our operations and integrate technology more seamlessly into our sport offense. Venkatesh Alagirisamy (“Venky”), currently Chief Supply Chain Officer and a nearly 20-year Nike veteran, will take on this role effective December 8. Venky will lead Technology, in addition to his existing responsibilities leading Supply Chain, Planning, Operations, Manufacturing and Sustainability. He and his team will now be able to look end-to-end to ensure technology is fully integrated across the company and into how we create, plan, make, deliver and sell our world-class innovations across our three iconic bra
NetApp Collaborates with AWS to bring Enterprise Data to AWS AI Services2.12.2025 19:30:00 CET | Press release
Amazon S3 Access Points for FSx for NetApp ONTAP connects ONTAP data to AWS's wide range of AI, ML, and Analytics services NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced a new capability that enables enterprises to make their workflows simpler and more efficient by connecting Amazon Web Services (AWS) AI and Analytics services directly with their NetApp data both in the cloud and on-premises. Amazon S3 Access Points for Amazon FSx for NetApp ONTAP® enable customers to accelerate AI and analytics projects by allowing FSx for ONTAP-resident file data to be accessed via the S3 API by AWS's extensive portfolio of AI/ML and analytics services—all while the data remains in place and is fully accessible for read / write via file protocols. “By connecting FSx for ONTAP data natively to AWS's wide range of AI, ML, and analytics services, the new integration with Amazon S3 Access Points unleashes the potential to connect to more than 100 exabytes of enterpri
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom