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
GIGABYTE Showcases Full-Stack AI Infrastructure from Rack-Scale Systems to Real-World Deployment at COMPUTEX 20261.6.2026 12:30:00 CEST | Press release
Following the introduction of its "Future Landing" vision, GIGABYTE Technology, a global leader in high-performance computing and AI infrastructure, brings that vision to life at COMPUTEX 2026 through a comprehensive showcase of systems, software, and real-world deployments that demonstrate how AI infrastructure is built, deployed, and operated at scale. From rack-scale AI factories and modular data centers to Physical AI workflows, clinical AI applications, and on-prem AI agents, GIGABYTE demonstrates how AI infrastructure moves beyond planning and into production. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260525486787/en/ Rack-Scale Infrastructure, Validated for AI Factories At the foundation of “Future Landing” is GIGABYTE’s expanding portfolio of rack-scale AI infrastructure designed for next-generation AI factories. Among the latest highlights is the NVIDIA Vera Rubin NVL72, showcased as part of GIGABYTE’s broader
BeOne Medicines Highlights Accelerating Solid Tumor Pipeline with New Data at ASCO 20261.6.2026 12:00:00 CEST | Press release
Oral and poster presentations span three priority programs in breast, gynecologic, and gastrointestinal cancers, advancing rapidly toward pivotal developmentCompany to host investor webcast showcasing momentum across solid tumor pipeline BeOne Medicines Ltd. (“BeOne”) (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced new data from its solid tumor pipeline being presented at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting (May 29–June 2, Chicago). These data underscore the significant acceleration across the Company’s high-priority breast, gynecologic and gastrointestinal (GI) cancer development programs. Data from three differentiated BeOne pipeline assets will be presented, including: CDK4 inhibitor (BGB-43395) (poster presentation): First disclosure of anti-tumor activity in first-line (1L) HR+/HER2- metastatic breast cancer. B7-H4 ADC (BG‑C9074) (rapid oral presentation): Phase 1 dose-escalation and safety expansion data in adva
Electricity System Transformation Vital to Meet Future Needs, Arthur D. Little Blue Shift Report Finds1.6.2026 11:00:00 CEST | Press release
Arthur D. Little (ADL)’s Blue Shift Institute today published The Future of Electricity - From Building Capacity to Shaping Flexibility. The in-depth new report explores the growing pressures on electricity systems worldwide, and how they must transform to meet radically changing needs. With demand predicted to rise by 40-55% by 2035, it identifies practical strategies for maintaining reliability, affordability, and resilience. Electricity systems face profound challenges due to the accelerating electrification of end uses, increasing renewables deployments, and the digitalization of economies. Rising variability and system stress is already leading to instability, grid congestion, and disruption. Demonstrating this, an April 2025 blackout across the Iberian Peninsula led to at least eight deaths and an estimated US $1.8 billion in economic losses. Based on in-depth research and expert interviews, the report outlines the need to reshape infrastructure and operations to move from supply
Procore Redefines the Common Data Environment with Connected Data and Agentic AI1.6.2026 10:00:00 CEST | Press release
CDE unifies project data, workflows, BIM models, and asset information in one trusted environment—creating the foundation for AI agents to amplify the reach of construction teams Procore is the solution to fragmented data, helping ensure information integrity from approved design to handover Connects the full project lifecycle in one trusted environment with a single source of truth across BIM, Documents, Quality, and Assets Transforms BIM into a live execution workspace via BIM Model Manager, streaming models of any size directly to mobile devices to connect real-time project data with 3D coordination Leverages Procore AI with embedded Datagrid capabilities to turn project data into an actionable foundation, powering agentic AI coworkers that can help automate construction workflows and execute work directly within the platform Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced the launch of its connected Common Da
AI Investment Boom Across the UK is Fuelled More by Fear of Missing out Than Actual Results, According to Expereo1.6.2026 10:00:00 CEST | Press release
Enterprises are investing aggressively in AI to avoid being left behind – but less than a quarter say AI implementations have exceeded expectations, often due to inadequate networks Enterprise AI spending is climbing rapidly, with boards racing to deploy the technology faster than they can measure whether it works. According to the latest IDC InfoBrief, commissioned by Expereo*, around 70% of organizations are investing in AI, motivated by its potential or by the fear of falling behind the competition, but they lag in disciplined ROI evaluation, and one in five (20%) admit they are investing aggressively in AI with little evaluation, driven by the fear of being left behind. The IDC InfoBrief, based on a survey of 800 technology leaders across Europe, the US, and APAC, found that AI has become one of the most prioritized technology investments globally. When asked which technologies their organization will prioritize in terms of effort and/or financial investment over the next 12 months
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