First Citizens Bank’s middle-market banking business provided $25 million in financing to F.W. Webb, a wholesale distributor of plumbing, heating and industrial products in the Northeastern United States.
The closing of this financing coincides with First Citizens’ expansion of its middle market banking services and capabilities to serve midsize business clients across the Northeast.
The financing provided by First Citizens will be used to refinance F.W. Webb’s newly constructed warehouse and distribution center with a showroom in Boston, Mass., located at 101 Hampden Street.
“We appreciated working with the First Citizens team for their expertise and thoroughness in arranging this loan to refinance our new warehouse and distribution center,” Robert Mucciarone, chief operating officer at F.W. Webb, said. “The new center is well-located and advances our business strategy during a time of steady growth for our industry.”
“We’re pleased to provide this financing to F.W. Webb, a company with a longstanding history in the Northeast region, where we’ve just expanded our middle market banking business,” Brendan Chambers, who leads First Citizens’ middle market banking business, said. “We look forward to future opportunities to support F.W. Webb and other businesses in the Northeast region.”
“We enjoyed working with the experienced management team at F.W. Webb throughout the financing process,” Nate Pusey, Northeast market executive at First Citizens, said. “This deal is a great example of the capabilities and tailored financing solutions that we’re now offering to middle market businesses throughout the Northeast.”
