Daily News: March 29, 2018

CIT Northbridge Arranges $20MM Facility for Arkos


CIT Northbridge Credit served as sole lead arranger on a three-year, $20 million senior secured revolving and term loan credit facility for Arkos Field Services, a Houston-based provider of aftermarket services to the energy industry. The financing included a $4 million tranche of capital supported by fixed assets.

Arkos intends to use the credit facility to support continued growth and for general corporate purposes.

“We are pleased to lead this transaction on behalf of Arkos Field Services as the company continues to expand its ability to serve the energy industry with exceptional aftermarket support,” said Neal Legan, who leads CIT Northbridge.

CIT Northbridge Credit supports middle-market companies with a range of asset-based debt solutions.