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
Invivoscribe® Advances Molecular Clonality Testing Portfolio with Comprehensive LymphoTrack® Flex Suite6.10.2026 12:15:00 CEST | Press release
New ultra-high sensitivity tests enable objective, automation-ready, high-throughput clonality and MRD workflow. Invivoscribe, a global leader in precision diagnostics and measurable residual disease (MRD) testing, today announced the launch of the complete LymphoTrack Flex suite, an integrated next-generation sequencing (NGS) solution to identify and track immunoglobulin and T-cell receptor gene rearrangements. As NGS-based immune receptor MRD analysis moves from academic laboratories into routine use in oncology research centers, the demand for standardized, high-throughput workflows is accelerating. Laboratories are seeking both greater efficiency and ultra-high sensitivity. This requires increasing DNA inputs while ensuring higher testing throughput and analytical performance. Translational programs need testing that is both reproducible and scalable across sites. LymphoTrack Flex meets these demands, bringing seven molecular targets (IGHV leader, IGH FR1, IGH FR2, IGH FR3, IGK, TR
Degreed Agents Enable Every Leader to Upskill Their Organization with Ease6.10.2026 12:00:00 CEST | Press release
Degreed was born with the mission to help everyone get credit for all of their learning and skills. Today, the company announces the latest phase of that journey with the release of Degreed agents, a connected system of AI agents that lets leaders and L&D teams automate personalized learning and skill building. Leaders set the direction, agents do the work, and together they form the foundation of a hybrid operating system for their workforce. Businesses today run workforce transformations as a relay. The CEO sets a mandate to get everyone AI-fluent. A talent leader then defines the end state while managers try to spot gaps on their own teams. L&D pulls reports by hand and builds what they can. Each handoff adds a delay. Now, agents can orchestrate all of that in real time. Degreed agents notice details that matter, like a promotion, a skill gap, or an engagement dip, and act on them without requiring a manager to notice, an admin to flag it, or L&D to build it. At launch, agents build
OPEX® Corporation Offers a Simplified, One-Touch Document Scanning Solution with the Introduction of Axis™6.10.2026 10:00:00 CEST | Press release
OPEX® Corporation, a global leader in Next Generation Automation providing innovative solutions for warehouse, document and mail automation, has announced the launch of Axis™, a new document scanner that brings the benefits of one-touch scanning to a simplified, single-bin configuration. Designed for document capture workflows where minimal document preparation, mixed media handling or operational simplicity are priorities, Axis bridges the gap between OPEX’s desktop scanner series and its multi-bin production scanner portfolio. “We developed Axis in direct response to market demands,” said Dann Worrell, President, Document and Mail Automation, OPEX. “Our customers want to simplify their scanning processes, reduce operating costs, and improve quality. Axis delivers on these priorities by combining our minimal-prep, One-Touch scanning technology with a single-bin design. With a lower market accessible entry point, Axis helps customers process documents more efficiently while achieving m
Rothera Goes Live on Smartstream’s Air to Automate High-Volume Derivatives Reconciliations6.10.2026 10:00:00 CEST | Press release
Key Facts - Rothera, a derivatives exchange and clearinghouse regulated by the U.S. Commodity Futures Trading Commission (CFTC), has gone live on Smartstream’s Air, deploying the Cash and Data modules to automate its reconciliation operations. - The new implementation replaces manual processes, enabling Rothera to reconcile circa 1.7 million daily transactions within a fully automated, fully audited environment. - Go-live for two data reconciliations: Exchange-to-Clearing Instruments and Exchange-to-Clearing Trades – with further reconciliation flows to follow. Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announced that Rothera, the U.S.-based CFTC-regulated event contract market, has gone live on Smartstream’s Air. Rothera has deployed Smartstream’s Cash and Data modules to automate high-volume derivatives reconciliations across its CFTC-regulated exchange and clearinghouse business. As transaction volumes on the exc
Convatec Survey Challenges Assumptions About Leakage in Ostomy Care6.10.2026 09:00:00 CEST | Press release
New global findings highlight the role of peristomal skin health in improving outcomes and confidence for people living with an ostomy Convatec, a leading medical products and technologies company focused on solutions for the management of chronic conditions, today released Rethinking leakage in ostomy care, new international research highlighting a significant gap in how peristomal skin health is understood and managed in ostomy care. The findings indicate that skin health plays a critical role in preventing leakage, and supporting confidence in daily life, yet remains widely under-recognised in routine care. For many people, leakage is not only a clinical or product issue; it can shape whether they feel able to travel, exercise, socialise or take part fully in everyday life. More than half of respondents said they avoid such activities due to worry about their ostomy. The results of the survey, which included more than 1,800 people living with an ostomy and over 400 healthcare profes
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