CIT’s asset-based lending business served as joint lead arranger on a $1.16 billion financing for PRO Unlimited, an integrated workforce management platform provider. The company used proceeds of the financing in part to facilitate its acquisition of Workforce Logiq, a global provider of artificial intelligence-powered workforce intelligence, technology and services, and for general corporate purposes.
“We’ve had a long-term relationship with CIT as our lender and were pleased to have them participate as joint lead arranger in this latest financing as we continue to optimize our organization for future growth and ongoing innovation,” Kevin Akeroyd, CEO of PRO Unlimited, said.
“Our decade-long engagement with PRO Unlimited is an example of how our relationship-oriented approach can help companies finance their growth trajectory,” Chris Esposito, managing director and group head for CIT’s asset-based lending business, said. “We were pleased to play a role in this latest round of financing as the company pursues its growth agenda and continues its evolution.”
