CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $17.4 million credit facility for Hynes Industries, a provider of custom metal solutions.
CIT Northbridge Credit, as advised by CIT Asset Management, named Todd Ping a managing director for business development activities across the southeastern United States.
CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $23 million credit facility for Nova Compression.
CIT Northbridge Credit named Sandy Thomson a managing director for business development activities across the western United States. Thomson previously worked for Wells Fargo Capital Finance, U.S. Bank Business Credit, LaSalle Business Credit and Fleet Capital.
CIT is an established name in the asset-based lending industry, but that hasn’t stopped it from continuing to evolve and innovate. In 2020 alone, the bank expanded its ABL division, hired a new ABL team leader and continued to close deals with its CIT Northbridge Credit joint venture, setting itself up for continued success in the marketplace.
CIT Northbridge Credit served as sole lead arranger on a $20 million senior secured facility for London, KY-based Laurel Grocery, a wholesale distributor of grocery products to more than 160 independent grocers in Georgia, Indiana, Kentucky, Ohio, Tennessee and West Virginia.
CIT Northbridge Credit served as sole lead arranger on a senior secured credit facility for Arizona Nutritional Supplements, a portfolio company of Endeavour Capital.
Second Avenue Capital Partners and CIT Northbridge entered into a senior secured credit agreement with Old Time Pottery, a Tennessee-based home décor retailer.
CIT Northbridge Credit served as sole lead arranger on a $50 million senior secured revolving credit facility for CITIES Market Studios.
CIT Northbridge Credit, through its investment advisor CIT Asset Management, served as sole lead arranger on a $20 million senior secured credit facility for Marquis Construction Services.