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
Verdict Expected Soon in Klarna’s $8.3 Billion Antitrust Lawsuit Against Google24.2.2026 19:09:00 CET | Press release
PriceRunner v. Google: Sweden’s Largest-Ever Civil Damages Claim Reaches Decision Stage; Klarna Provides Investor Update Klarna Group plc (NYSE: KLAR) announces that the Patent and Market Court of Sweden (Patent- och marknadsdomstolen) is expected to deliver its verdict on April 15, 2026 in the antitrust damages proceedings brought by Klarna’s subsidiary PriceRunner International AB against Google LLC and Google Ireland Limited. The trial, which ran from October 20 to December 19, 2025, concerned PriceRunner’s claim for approximately $8.3 billion in damages — the largest civil damages claim ever filed in a Swedish court. The Case The claim arises from Google’s abuse of dominance in online comparison shopping, as established by the European Commission in a binding 2017 decision and upheld without reservation by the Court of Justice of the European Union in September 2024. PriceRunner alleges that Google systematically demoted competing price comparison services in its search results whi
INRIX Announces New Generation of AI Traffic Products: Helping to Improve Safety, Reduce Congestion, and Enhance Mobility Operations24.2.2026 16:49:00 CET | Press release
New generative AI capabilities, enhanced incident detection, and expanded customer deployments mark a major evolution of the INRIX Traffic product family INRIX, a global leader in transportation data and analytics, today announced a major expansion of its Trafficfamily of products, delivering innovativeAI-driven capabilities to help transportation agencies and logistics organizations move from reactive traffic management to proactive, safety-focused and efficient operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260224267928/en/ INRIX introduces expanded automation, generative AI capabilities, enhanced incident detection, and continuous analytics. Over twenty years ago, INRIX commercialized the first system to use GPS data to create real-time traffic information. In 2019, INRIX launched AI Traffic – the world's first traffic platform to leverage deep learning models and AI to improve the quality and analysis globall
Check Point and ControlPlane Partner to Help Enterprises Securely Scale AI and Accelerate Agentic Innovation24.2.2026 15:30:00 CET | Press release
ControlPlane, a specialist AI Security and DevSecOps consultancy, and Check Point Software Technologies Ltd., a pioneer and global leader in cyber security solutions, today announced a strategic collaboration to help enterprises securely adopt Large Language Models (LLMs) and agentic AI systems at scale. The partnership delivers a comprehensive, regulator-ready security framework designed to reduce risk, protect sensitive data, and enable organizations to move confidently from AI experimentation to production deployment. By combining Check Point’s AI-native threat prevention platform with ControlPlane’s deep expertise in cloud native architectures and DevSecOps, enterprises can operationalize AI securely without slowing innovation. As organizations advance AI initiatives beyond pilots, they face a growing “AI readiness gap.” Emerging threats such as prompt injection, unauthorized access, data leakage, and model misuse introduce risks that traditional security controls were not built to
Clinilabs Establishes EU Headquarters in Basel, Strengthening European Clinical Operations Under New Regional Leadership24.2.2026 15:00:00 CET | Press release
Clinilabs, a leading specialty contract research organization (CRO) focused on central nervous system (CNS) drug and device development, today announced the expansion of its European operations, including the establishment of its European Union headquarters at Switzerland Innovation Park Basel Area, and the appointment of Dr. Anne-Marie Nagy as executive vice president and head of Clinilabs Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260224669284/en/ Dr. Anne-Marie Nagy appointed as Executive Vice President and Head of Clinilabs Europe Switzerland Innovation Park Basel Area is part of Switzerland’s national innovation network and located within the Basel region’s globally recognized life sciences cluster, bringing together biopharma companies, research institutions, and clinical innovation leaders. “Europe is a critical pillar of Clinilabs’ long-term growth strategy,” said Gary K. Zammit, Ph.D., president and chie
Yubico Unveils “YubiNation Partners”: A New Era of Global Channel Partnership to Secure Digital Identities in the Age of AI24.2.2026 15:00:00 CET | Press release
Yubico (NASDAQ STOCKHOLM: YUBICO), a modern cybersecurity company and creator of the most secure passkeys, today announced the launch of YubiNation Partners, a new global Channel program designed to unite a community of security experts. In the face of growing AI-driven cyber threats, the program enables partners to become trusted advisors and cultivate a safer digital world for their customers, making identities private and secure. As the average cost of a corporate security breach climbs to $4.4 million*, with phishing remaining a primary attack vector, the industry can no longer rely on passwords alone. In fact, a 2026 Total Economic Impact study from Forrester Consulting commissioned by Yubico, found that by replacing traditional multi-factor authentication (MFA) and one-time passwords (OTP) with YubiKeys, customers achieved a 265% return on investment (ROI). This effectively eliminated phishing and credential-theft risks, reducing an organization’s risk exposure to breach costs fr
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