The new facility will fund ITPS Canada’s expansion into a new North Bay facility, along with general corporate purposes, as the company builds on record growth
LONDON, ONTARIO, CANADA, September 3, 2026 /EINPresswire.com/ — ITPS Canada, a leading provider of advanced military tactical training, flight test training, and aircraft sustainment services, today announced it has entered into a new $90 million senior secured credit facility, with an option to upsize, led by RBC and Export Development Canada (EDC).
The facility will support the continued rapid growth ITPS Canada has experienced across its business divisions — the International Test Pilots School, the International Tactical Training Centre (ITTC), and a new engineering division — and will fund the company’s expansion into a new facility in North Bay, Ontario, ongoing expansion of their London facility including the construction of a new engineering facility, as well as general corporate purposes. The new North Bay footprint will support ITTC’s growing fleet of up to 20 L-39 aircraft by the end of 2027, as well as the six M-346 T Block 20 jet trainers ITPS Canada ordered from Leonardo in May 2026 which are expected to enter service starting in 2029.
“We’re excited to partner with two of Canada’s leading financial institutions as we enter our next phase of growth,” said Dave Lohse, CEO of ITPS Canada. “This facility gives us the capital foundation to expand our North Bay operations and continue meeting the evolving tactical training demands of allied air forces around the world, including our intention to introduce the M-346 into our fleet. RBC and EDC’s support positions us well for the future.”
“ITPS Canada is building the types of modern capabilities needed by Canada and its allies to elevate their defence readiness. At RBC, we back innovative, globally competitive firms like ITPS that are scaling Canada’s sovereign defence sector,” said Niranjan Vivekanandan, Executive Vice President and Chief Operating Officer, Commercial Banking, RBC. “We’re proud to support this expansion as part of our commitment to be Canada’s leading bank for aerospace, defence, and security at a time of generational change.”
“Canada is home to some of the world’s leading defence and aerospace talent and capabilities, and ITPS Canada is helping put that expertise on display globally,” said Guillermo Freire, Senior Vice-President, Mid-Market Group, EDC. “We’re proud to support the company’s growth as it expands its advanced training capabilities, reaches new international customers, and strengthens the global competitiveness of Canada’s aerospace and defence sector.”
With more than 25 years of experience delivering advanced flight test and tactical training in Canada, ITPS Canada has trained personnel from over 29 air arms to date and currently supports tactical training demand for NATO, Five Eyes and allied air forces at its ITTC base in North Bay.
Origin Merchant Partners acted as financial advisor and 43North Group as consultant to ITPS Canada on the transaction. Fasken acted as legal counsel to ITPS Canada.
About ITPS Canada
ITPS Canada is a Canadian corporation providing advanced military tactical training and flight test training, as well as engineering, maintenance, repair and overhaul services. The company operates through three divisions: the International Test Pilots School, the largest independent provider of experimental flight test training in the world; the International Tactical Training Centre, providing advanced and lead-in fighter training, and a new engineering division where ITPS will provide aircraft sustainment, maintenance, repair and overhaul capabilities to its internal fleet and customers worldwide. ITPS Canada employs over 200 staff at facilities in London, Ontario and North Bay, Ontario.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 105,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.
About Export Development Canada (EDC)
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca
Sheila Hodgson
ITPS Canada Ltd.
+1 519-457-3625
press@ITPSCanada.com
Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Media gallery
