Founded in 1968 and headquartered in Amsterdam, TIP Group specialise in truck and trailer leasing, rental, maintenance and repair, through their service network that spans 130 sites across 18 countries. They currently invest in seven ESG programmes to keep them on the road to sustainability across their four business lines of: (1) long-term leasing; (2) short-term rental; (3) maintenance, repair and roadside assistance services; and (4) telematics and other specialist services.

As NatWest have an existing relationship with the TIP Group through providing specialist finance products to a UK subsidiary, we were approached to become a lender in the accordion trigger of TIP’s existing ~€1.4 billion sustainability-linked Revolving Credit Facility (RCF), part of their borrowing base financing (BBF) arrangements. 

NatWest agreed to take a €50 million hold, joining seven other new lenders to increase the total RCF facility to €1,798.75 million, which will be used to fund further growth and support the implementation of TIP’s strategic plan.

Bob Fast, President and CEO, explains: “The increase of our existing BBF and ABS allows us to grow the TIP Group further, both organically and non-organically, and to broaden our geographical presence. The additional funds from existing and new financing partners reflect the trust in our business which is underpinned by our growth in the past years and accordingly provides a strong platform to continue along that path.”

Jacob Lloyd, Head of Specialist Asset Finance, NatWest, commented: “We are delighted to help TIP by contributing to this Sustainability-Linked RCF, which supports our customer’s growth, and transition to offering more sustainable methods of transportation. We’re determined to continue playing a part in accelerating the UK’s sustainability journey by providing £100 billion Climate and Sustainable Funding and Financing to customers like TIP, by the end of 2025.”