First Citizens Bank, through its asset-based lending business, served as lead arranger in upsizing the credit facility for SG Credit Partners’ asset-based lending verticals comprised of SG Consumer Products and SG Commercial Finance, which focus on sponsor-backed CPG companies and the general lower middle market, respectively.
The upsize increases the credit facility to support SG Credit’s recent addition of its commercial finance division as part of its broader growth strategy of focusing on new lending verticals. The First Citizens asset-based lending team has worked closely with SG Credit over several years to support their financing needs.
“First Citizens ABL is well known as a premier bank with strong lender finance capabilities,” Ryan Woody, chief operating officer at SG Consumer Products, said. “We appreciated their expertise and agility in arranging additional financing capacity to meet our unique requirements.”
“SG Credit Partners is continuing its growth trajectory, leveraging its proven ability to develop a well-structured portfolio,” Chris Esposito, managing director and group head for First Citizens asset-based lending, said. “We’re pleased to continue supporting them as they advance toward their business objectives.”
