Daily News: February 9, 2018

CIT Arranges $180MM in Financing for HCT Group


The Corporate Banking unit of CIT’s Commercial Finance business arranged for $180 million in financing for HCT Group. CIT led the transaction, which will provide HCT with capital for growth and expansion.

Los Angeles-based HCT is a player in the global beauty and cosmetics packaging industry, with operations in the U.S., Europe and Asia.

“CIT was instrumental in pulling together the financing we need to accelerate our growth and expansion,” said HCT CEO Tim Thorpe. “We were pleased with CIT’s nimble and responsive leadership in finding creative solutions for our financing needs.”

“Our ability to understand HCT’s business and growth strategy enabled us to structure a solution that fully delivered on the company’s requirements,” said Hillary Savoie, managing director and group head, Corporate Banking at CIT. “CIT is proud to have arranged the financing for a successful and dynamic company like HCT Group, an innovator and leader in health and beauty packaging industry.”