CIT Northbridge Credit, as advised by CIT Asset Management, provided $45 million to refinance and upsize a secured credit facility for Tubular Synergy Group, a privately held sales, marketing and supply chain services distributor.
Headquartered in Dallas, Tubular Synergy Group provides casing, tubing and line pipe products for the energy industry.
“Demand for our tubular products has been steadfast while inflationary pressure has altered our costs, which compelled us to upsize our credit facility,” W. Byron Dunn, CEO of Tubular Synergy, said. “We appreciated the seasoned expertise of the CIT Northbridge team in providing financing as we continue to deliver value to our customers.”
“Tubular Synergy has a long and distinguished history of providing clients with outstanding products and services. We were pleased to deliver the financing needed to support their ongoing operations and future growth,” Neal Legan, who leads the team that advises CIT Northbridge Credit, said.
