First Citizens Bank’s middle-market banking business provided $16 million in financing to FitLife Brands, a provider of nutritional supplements headquartered in Omaha, NE.
The financing includes a $12.5 million term loan for FitLife’s acquisition of Mimi’s Rock, an e-commerce wellness company that owns brands in the nutritional supplement and skin care sectors, as well as a $3.5 million working capital revolving line of credit.
“First Citizens Bank provided expert guidance and knowledge in arranging financing to support our acquisition of Mimi’s Rock,” Dayton Judd, CEO of FitLife Brands, said. “We appreciate their partnership during this milestone moment for our company.”
“We’re pleased to strengthen our relationship with FitLife through this acquisition financing, which was arranged by our team of experienced middle-market bankers in the Midwest,” Brendan Chambers, managing director and group head of First Citizens Middle Market Banking, said. “We look forward to future opportunities to work with FitLife as they continue to expand their product offerings and grow in international and domestic markets. “We are proud to support middle-market companies throughout the Midwest with our expertise and agility in arranging a wide range of financing options.”
