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
Lenovo Recognized in the Gartner® Supply Chain Top 25 for 202623.6.2026 06:00:00 CEST | Press release
Lenovo has once again been ranked in the Gartner® Supply Chain Top 25 for 2026, achieving its highest-ever ranking at seventh globally. The Gartner Supply Chain Top 25 is a renowned annual ranking of the world’s superior supply chains. Now in its 22nd year, the Gartner Supply Chain Top 25 identifies, celebrates and profiles excellence in supply chain management. Supply chain teams use the Gartner Supply Chain Top 25 to benchmark performance, transform operations and lead in the future.Lenovo ranked eighth in 2025, 10th in 2024, and eighth in 2023. AI Builds Greater Supply Chain Resilience Global supply chains have faced unprecedented disruption over the past 12 months, driven by tariffs, component shortages, and geopolitical tensions. Lenovo’s strength amid these challenging circumstances has been its ability to build on its AI infrastructure behind its global supply chain, improving resilience, adaptability and execution at speed and scale. Over the past year, Lenovo has evolved its S
One Biosciences Receives BOOST Funding From Paris-Saclay Cancer Cluster to Advance the First Single-Cell Assay Approach for ADC Therapies22.6.2026 22:15:00 CEST | Press release
One Biosciences, a techbio company pioneering clinical-grade single-cell tumor profiling, today announced financial support via a Paris-Saclay Cancer Cluster (PSCC) BOOST grant to develop the first single-cell assay for antibody-drug conjugates (ADC) therapies in oncology. The rapid growth of ADCs is driving demand for more sophisticated biomarker strategies. By capturing tumor complexity at cellular resolution, single-cell profiling has the potential to enhance patient selection and support the development of next-generation ADCs. Ultimately, it will help match the right patients to the right therapies, maximizing therapeutic benefit. The PSCC BOOST-funded project seeks to bring a new level of precision to ADC development. It will be conducted in collaboration with Adcytherix, a clinical-stage biotech company developing differentiated ADCs for cancers with high unmet medical need. The collaboration will combine Adcytherix’s expertise in ADC development with One Biosciences’ AI-powered
Interactive Brokers Expands AI Integration Capabilities – Adding ChatGPT and Grok to Its Growing Suite of Agentic Trading Tools22.6.2026 16:00:00 CEST | Press release
Additional Asset Classes Available Including Options and Futures Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the expansion of its agentic trading capabilities with the addition of ChatGPT and Grok, further broadening a growing ecosystem of AI platform integrations that began with Claude. Available through certified AI connector marketplaces across multiple leading platforms, these integrations allow clients to research, analyze, and generate instructions with speed and efficiency to uncover new trading and investing opportunities instantly. With this release, Interactive Brokers also extends the selection of products available for order instructions to include support for options, futures and futures options in addition to equities and ETFs. “We continue to see growing interest from investors in using artificial intelligence as a more natural way to interact with financial markets,” said Milan Galik, Chief Executive Officer of Interactive Brokers. “A
IQM Named Among Quantum Collaborators in HPE's New Hybrid Quantum-HPC Platform22.6.2026 15:22:00 CEST | Press release
The collaboration will advance practical and scalable hybrid classical-quantum applications. This follows IQM's first on-premises quantum computer installation in the United States, at Oak Ridge National Laboratory. IQM has sold 23 quantum systems globally to date and intends to list on Nasdaq in the United States by mid 2026. Hewlett Packard Enterprise has named IQM Quantum Computers among the companies collaborating on its hybrid classical-quantum computing platform, announced at HPE Discover Las Vegas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622035759/en/ IQM Radiance quantum computer at HPE Discover Las Vegas 2026 IQM, a global leader in full-stack superconducting quantum computers, is contributing superconducting quantum processor technology to the effort, in which HPE is integrating multiple quantum modalities with its Cray supercomputing infrastructure. This collaboration strengthens IQM's global expansion p
Return Abuse Goes Mainstream as Nearly Half of Consumers Use AI in Return Claims, New Riskified Research Finds22.6.2026 14:30:00 CEST | Press release
New global study shows normalization of strategic returns, widening regional differences, and rapid AI adoption reshaping ecommerce post-purchase risk Riskified (NYSE: RSKD), a global leader in ecommerce fraud detection and risk intelligence, today released a new global report, “Rewriting the Rules on Returns”, exploring how consumer attitudes and behaviors around ecommerce returns are evolving in the age of artificial intelligence (AI). The Riskified-commissioned study, conducted by eTail Insights, is based on a survey of 2,091 consumers across seven countries, alongside in-depth interviews with senior leaders from many of the largest retail companies in the world. The research finds that return abuse behaviors are increasingly normalized, while nearly half of consumers already use generative AI tools to assist with return or refund claims. At the same time, merchants are responding by tightening return policies, shortening return windows, and deploying advanced AI detection to better
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