TIP
18.8.2021 16:02:04 CEST | Business Wire | Press release
On 29 July 2021, TIP, a portfolio company of I Squared Capital, has successfully amended and extended its existing Revolving Credit Facility (RCF) and additionally raised funding to strengthen the business.
The existing Revolving Credit Facility (RCF) was increased from €1,150.5 million to €1,196.75 million with no change in pricing or structure and extends the maturity by 2 years. The RCF facility was initially established in 2014 for five years with three banks in the syndicate and a total amount of €300 million. The facility was refinanced in December 2018 maturing in December 2023. The facility has now been increased to €1,196.75 million maturing December 2025.
TIP also raised additional €150 million in the private placement term debt market for a 5-year tenor. The term debt was raised for the first time in November 2019 for €274.5 million for a 7-year tenor
Bob Fast, CEO, explains: “The increase of our RCF and term loans provides flexibility to grow further, both organically and in-organically and broaden our geographical presence. We are excited about adding performance metrics to the facility on Environmental, Social and Governance (ESG) to contribute to sustainable development in coming years. The additional funds from existing financing partners reflects the trust in our business underpinned by our growth in the past five years and provides a strong platform to continue along that path”
Hans van Lierop, CFO, continues: “We originally structured and funded our RCF with three banks in 2014. We diversified the portfolio in November 2019 by adding private placement institutional term debt providers for the first time. This year, we increased both RCF and term loan facilities as well as extending maturity of the RCF facility. Thus, adding to the robustness of our balance sheet. There was strong demand from the market for both offerings, driven by our business growth and performance over the last five years. We are closing 2021 with a strong balance sheet and liquidity position to support our long-term vision”
The funding round was oversubscribed and will support capital investments and future acquisitions to strengthen further the businesses leading market position.
Rabobank and ABN AMRO acted as joint coordinators and physical book runners to TIP and I Squared Capital on the transaction.
About TIP
Headquartered in Amsterdam, the Netherlands, TIP is one of Europe and Canada’s leading equipment service providers, specialising in trailer leasing, rental, maintenance and repair, as well as other value-added services and provides these to transportation and logistics customers across Europe and Canada. TIP services customers from 102+ locations spread over 17 countries in Europe and Canada.
More info: https://www.tipeurope.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20210818005467/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
Verdant Rock Receives A (low) Financial Strength Rating from Morningstar DBRS, Adding a Second International Investment-Grade Assessment9.10.2026 16:00:00 CEST | Press release
Verdant Rock now holds Financial Strength Ratings from both Fitch Ratings and Morningstar DBRS, providing counterparties with dual-agency confirmation and reinforcing the security architecture behind each financial guarantee Verdant Rock Limited, a Bermuda Monetary Authority-regulated Class 3B insurance company, has received an A (low) Financial Strength Rating from Morningstar DBRS. The rating reflects Verdant Rock’s financial strength and its capacity to meet policyholder obligations as an investment-grade financial guarantor for Emerging Markets credit. Morningstar DBRS is a global credit rating agency with coverage across North America, Europe, Asia, and Latin America. Its assessment of Verdant Rock reflects the company’s strong projected earnings ability, robust risk profile, sound liquidity, and good capitalization. Morningstar DBRS also assigned an A (low) Issuer Rating to Verdant Rock. The rating follows Verdant Rock’s BBB+ Long-Term Insurer Financial Strength Rating with a Sta
Tecnotree Named a Visionary in the Inaugural 2026 Gartner® Magic Quadrant™ for CSP AI-Enabled Marketing and Sales Solutions9.10.2026 15:17:00 CEST | Press release
We think Gartner recognizes Tecnotree's open, governed approach to agentic AI as operators make AI the engine of their revenue operations Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, today announced that Gartner has positioned it as a Visionary in the first-ever Magic Quadrant for AI-Enabled CSP Marketing and Sales Solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261009905430/en/ Tecnotree Named a Visionary in the Inaugural 2026 Gartner® Magic Quadrant™ for CSP AI-Enabled Marketing and Sales Solutions A new category for a new operating model. CSPs are fighting saturated markets, rising acquisition costs, and accelerating churn. They are responding with AI-driven automation across the full revenue cycle, from segmentation and campaigns to lead management, CPQ, and renewals, increasingly executed by autonomous agents. According to us, Gartner creation of this Magi
Positive New Data on Corcym’s Perceval Plus Sutureless Aortic Heart Valve Encompasses up to 7-Year Follow-up9.10.2026 15:15:00 CEST | Press release
Data Presented at Annual Meeting of European Association for Cardio-Thoracic Surgery (EACTS), Along with 6 Perceval Plus E-PostersEACTS Also Marks Commercial Launch of TriMemo and Memo 4D Curve, Innovative Repair Devices for Tricuspid and Mitral Valves Corcym, a global medical device company dedicated to cardiac surgery, today announced that positive mid-term data from a sub-analysis of its Perceval Plus sutureless aortic heart valve as part of its MANTRA clinical trial was featured in an oral presentation today at the annual meeting of the European Association for Cardio-Thoracic Surgery (EACTS). The study is the longest follow-up available for Perceval Plus and the FREE tissue treatment from an international multicenter study, and demonstrated excellent durability, safety and quality of life improvements. Perceval Plus is the only sutureless and collapsible aortic surgical heart valve. Its unique design performs in any surgical scenario and is optimal for endoscopy and robotics. The
Ada earns AWS Travel and Hospitality Competency for resolving traveler issues at scale9.10.2026 15:00:00 CEST | Press release
The designation recognizes Ada's technical expertise and proven customer outcomes with airlines, hotels, and travel brands building on AWS.Travel and hospitality customers can find and procure Ada CX through AWS Marketplace. Ada, the pioneer in Agentic Customer Experience, today announced it has achieved the Amazon Web Services (AWS) Travel and Hospitality Competency. The designation recognizes Ada as an AWS Partner with demonstrated technical proficiency and proven customer success helping travel and hospitality brands resolve customer issues at scale. Ada joins a select group of 58 AWS Partners holding the competency, and it reflects a shared commitment to helping travel brands deliver service that holds up on their busiest, most unpredictable days. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261009673638/en/ Ada earns AWS Travel and Hospitality Competency for resolving traveler issues at scale "Travel is where agentic
Hitachi Joins Anthropic’s Critical Infrastructure Defense Program9.10.2026 02:32:00 CEST | Press release
Hitachi, Ltd. (TSE:6501, "Hitachi"), today announced that it has joined Anthropic, PBC’s (“Anthropic”) “Critical Infrastructure Defense Program,” launched on October 8, 2026, as a founding partner. The program is aimed at strengthening cyber defense for critical infrastructure, including control systems supporting power, water, manufacturing, and transportation services. Infrastructure systems that underpin society and the economy cannot tolerate prolonged downtime, making it difficult to implement certain security measures, such as system shutdowns for patch deployment. At the same time, advances in AI are significantly shortening the time between vulnerability disclosure and exploitation, creating an urgent need to redesign systems based on the assumption that cyberattacks will occur. The program seeks to strengthen cybersecurity through rapid vulnerability detection and remediation by integrating Anthropic’s advanced AI models, Claude, into the products and services of trusted syste
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