CIT Group’s asset-based lending and sponsor finance businesses, both part of the commercial finance division, collaborated to serve as joint lead arranger on $175 million financing for MSTS, a B2B payment and credit solutions provider.
CIT Group’s asset-based lending business, working in conjunction with its sponsor finance group, served as lead arranger on a senior secured credit facility for von Drehle Corporation, which produces paper towel, tissue and dispensing products.
According to Jeff Kilrea, group head and managing director of CIT Sponsor Finance, middle market executives are more confident about future growth and are actively pursuing multi-faceted growth strategies in the coming year.
According to CIT Group’s Voice of the Middle Market study, 80% of executives in the space foresee expansion and diversification over the next 12 months.