First Citizens Bank’s middle market banking business served as lead arranger on acquisition financing for Nashville-based Encore Luxury Coaches, a provider of luxury entertainment travel. The financing supports Encore’s strategic acquisition of Nitetrain Coach Company.
The acquisition will also expand Encore’s leasing and coach conversion operations; the combined company will have offices in Phoenix, Arizona; Cornelius, North Carolina; and Nashville, Tennessee with over 85,000 square feet of maintenance facilities and over 25 maintenance technicians.
“We appreciate First Citizens’ efficiency and precision in arranging acquisition financing, which will enable us to deliver our premium service to even more clients in the growing entertainment industry,” Justin Ward, CEO of Encore, said.
First Citizens’ middle market banking business worked closely with its capital markets division to arrange the financing.
“This deal demonstrates the expertise across First Citizens Bank with our capital markets group playing an instrumental role in placing and negotiating this acquisition financing,” Eric Searls, managing director at First Citizens Bank, said. “We are pleased to support Encore’s strategic business endeavors and look forward to serving more of their banking needs.”
