ITPS Canada Secures $90 Million Credit Facility

ITPS Canada Secures $90 Million Credit Facility for Expansion

On September 3, 2026, ITPS Canada, a prominent provider of military tactical training and flight test services, announced a significant financial milestone: a $90 million senior secured credit facility, with the potential for upsizing. The facility was arranged by RBC (Royal Bank of Canada) and Export Development Canada (EDC) and aims to bolster ITPS Canada’s continual growth across its various divisions.

ITPS Canada operates three key divisions: the International Test Pilots School, known as the largest independent flight test training provider globally; the International Tactical Training Centre (ITTC); and a newly established engineering division. The funding from the credit facility will primarily support the company's expansion into a new facility in North Bay, Ontario. This site is expected to accommodate ITTC's growing fleet of L-39 aircraft, projected to number up to 20 by the end of 2027, along with six newly ordered M-346 T Block 20 jet trainers from Leonardo, which are anticipated to be operational starting in 2029.

Dave Lohse, CEO of ITPS Canada, expressed enthusiasm for the partnership with RBC and EDC, stating that the credit facility provides essential capital for expanding their North Bay operations and helps address the evolving training needs of allied air forces globally. Lohse emphasized the strategic importance of integrating the M-346 into their training fleet, which aligns with the company's commitment to state-of-the-art military training.

RBC's Executive Vice President, Niranjan Vivekanandan, highlighted the significance of supporting innovative companies like ITPS Canada, particularly in a transforming defence sector. He mentioned that RBC's backing signifies their dedication to strengthening Canada’s aerospace, defence, and security industries during this crucial transition period.

Guillermo Freire, Senior Vice-President at EDC, reiterated the importance of Canadian talent in the defence and aerospace sectors. He commended ITPS Canada's role in showcasing this expertise on a global scale and endorsed their growth in advanced training capabilities and market reach.

With over 25 years in the field, ITPS Canada has trained personnel from 29 air arms and currently meets the tactical training demands of NATO, Five Eyes, and allied air forces at its ITTC base.

In addition to this financial transaction, ITPS Canada was advised by Origin Merchant Partners and 43North Group, with Fasken providing legal counsel.

About ITPS Canada:

ITPS Canada specializes in advanced military tactical training and flight test training, in addition to engineering and maintenance services. The organization employs over 200 staff in its facilities in London and North Bay, Ontario.

About RBC:

As Canada's largest bank with a global presence, RBC focuses on delivering outstanding performance through innovation and community commitment, supporting various initiatives to strengthen the communities they operate in.

About EDC:

Export Development Canada is a Crown corporation focused on empowering Canadian companies to thrive in domestic and international markets, providing financial support and resources for sustainable growth.

For more information about ITPS Canada and its offerings, interested parties can contact Sheila Hodgson, the Director of Sales and Marketing at ITPS Canada.