The credit facility Cortland Credit Group, a company in growth lending solutions, extended to Insulation Technology Group (ITG), a portfolio company of PHI Industrial, was successfully repaid. Executed in June 2024, this repayment was almost precisely three years after the initial funding.
At its peak, Cortland committed €34 million to the ITG credit facility, with €15 million outstanding at the time of repayment. The credit facility, initially extended in 2021, was a conforming asset-based loan designed to support the strategic acquisition of its platform company.
“Cortland’s support of Insulation Technology Group exemplifies our commitment to partnering with high-growth companies and driving substantial value creation,” Sean Rogister, CEO of Cortland Credit Group, said. “We are proud of ITG’s remarkable success and look forward to continuing to support innovative and high-growth companies through our tailored financial solutions.”
