CIT Northbridge Credit served as sole lead arranger on a senior secured credit facility for Arizona Nutritional Supplements, a portfolio company of Endeavour Capital.
Proceeds from the financing will be used to recapitalize the company, repay existing debt and provide working capital for continuing operations.
Arizona Nutritional Supplements is a contract and private label manufacturer of vitamins, minerals and supplements in a range of sizes and formats, including tablets, capsules, soft gels and powders. The company serves customers through a network of retailers, grocers, physician groups, direct selling and e-commerce channels.
“Consumers today are increasingly interested in maintaining and improving their health and wellness, and we anticipate continued growth for nutritional supplements and related products,” Mike Beardall, CEO of Arizona Nutritional Supplements, said. “We greatly appreciated the expertise and agility of the CIT Northbridge team in arranging this financing that will enable us to continue our growth and achieve our business goals.”
“Arizona Nutritional Supplements has a strong track record as a maker and distributor of a range of nutritional products to outlets across the U.S.,” Neal Legan, who leads CIT Northbridge Credit, said. “We were pleased to work with the company’s leadership to understand their needs and arrange this asset-based financing that supports their business strategy.”
