CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products.
Europa Sports Products is a distributor of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores, specialty supplement retailers and sporting goods stores. Europa Sports Products will use the proceeds from the credit facility for general corporate purposes and business development.
“With consumers increasingly focused on maintaining and improving their health, we anticipate growing demand for products that support their goals,” Jeff Compton, co-founder and CEO of Europa Sports Products, said. “We greatly appreciated the expertise and agility of the CIT Northbridge team in arranging this financing to meet our business objectives.”
“Europa Sports Products is unmatched as a distributor of nutritional and sports supplements and a wide range of other products to outlets across the U.S. and abroad,” Neal Legan, who leads CIT Northbridge, said. “We are pleased to work with the company to arrange this asset-based financing that meets their needs and supports their business strategy.”
CIT Northbridge Credit is a joint venture advised by CIT Asset Management that provides revolving and term loan commitments from $15 million to $150 million.
